Still sailing through the bear market, crypto enthusiasts gathered once again in a physical meetup to discuss the ups and downs of the space during the Mid-Winter Fireside Chat at the Draper Startup House Manila in Makati City held last August 16, 2022. The event was organized by the homegrown crypto news provider BitPinas and gaming guild Yield Guild Games (YGG) and sponsored by RFOX Games.
To heat up the event, a diverse panel set the stage on fire as they tackled the past, present and future of cryptocurrency, especially during this crypto winter, as well as non-fungible tokens (NFT), blockchain technology, web3, and the metaverse as a whole in the Philippines.
The first panel was composed of cryptocurrency expert and YGG Country Manager Luis Buenaventura, game ambassadress and non-fungible token (NFT) enthusiast Myrtle Sarrosa, and the Managing Director of crypto wallet Coins.ph Eprom Galang; the talk was moderated by the editor-in-chief of BitPinas, Michael Mislos.
“Just because it’s winter (it) doesn’t mean that all of the amazing tech and innovations that we are so excited about. It just states that nag-iba yung perception ng market, for the time being. And having gone through this business for the last eight years or so, I know that it will eventually warm up,” Buenaventura stated. Buenaventura also co-founded crypto exchange BloomX and art guild CryptoPop Art Guild. He was also the first Filipino NFT artist.
He added that it’s actually helpful to talk about what happens during this winter time, “just to remind ourselves that it’s not permanent, it’s not a long wait… we’re going to come out of this.”
Galang, on the other hand, shared their perspective on the bear market as a registered and regulated crypto wallet in the country. According to him, it is a great time to build more; in fact, Coins.ph has revamped the platform and is currently creating and launching new projects.
“Just keep building, the opportunity in bear markets is better. There is a more relaxed environment in building products,” he said.
Further, he noted that Coins.ph is open for partnerships not only to web3 entities but also for web2 firms as this will also help them onboard more into the metaverse.
Sarrosa then shared—since she and the majority of the Filipino crypto adaopters in 2020-2021 started with Axie Infinity— that her followers are often asking her what to do with their NFT wallets and assets especially during this current bear market where the value of their tokens are unstable.
She also mentioned that now is the best time to build a community to promote space and educate.
“For me, as a media personality, we have to put ourselves in the shoes of our viewers and educate them. Make sure that you are really doing your research and be organic when talking to your viewers,” Sarrosa stated.
Moreover, she added that she personally, in a gamers perspective, believes that blockchain is the future of gaming.
“We’ll bear through this bear market,” she affirmed.
At some point, Buenaventura asked who were the adopters around the bull market in 2021 and left them with a task.
“It’s easy to be part of crypto if the market is going up. If you come into crypto without experiencing winter, you’re still not a crypto person. When it’s easy, it’s not a crypto experience. Survive this winter first and then you can now call yourself a crypto person,” he stated.
This article is published on BitPinas: [Event Recap] Mid-Winter Fireside Chat First Panel: Crypto Winter in Three Perspectives
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.