MetaMask revealed exclusively to BitPinas that it has reached 3.57 million users in the Philippines, which is 17% of the 21 million users the wallet said it acquired November of last year. This is a 78.5% increase from the previously reported 2 million Philippine users last August 2021.
“Regarding MetaMask’s November 21M users announcement, in November, roughly 17% of MetaMask’s monthly active users were based in the Philippines, although privacy mechanisms within the app make it difficult to give specific user counts per country,” says Jacob Cantele, Lead of Operations at MetaMask.
Jacob said they will publish a more detailed report and analysis in the future.
When MetaMask announced that it surpassed 10 million users last August, BitPinas reported that 20% of these users are from the Philippines, which signals the increasing number of Filipinos accessing the decentralized space. MetaMask is described as the gateway to decentralized applications, from games, to decentralized finance, and non-fungible tokens. Jacob did say that there are a lot of MetaMask users in the country even before. “Historically, we’ve had a lot of Filipino users even pre-dating the gaming boom,” he said.
“We’ve seen people using MetaMask for decentralized finance services in the Philippines. We’ve seen a lot of art collecting, NFTs, all of those different usecases have brought more people into the decentralized web,” he said in a previous interview.
At 21 million users globally, MetaMask increased its users in 2021 by 38% vs the previous year. “Web3 allows creators to capture the true value of their work and communities to organize in real time, largely unfettered by borders. These applications include NFT marketplaces, play-to-earn games, decentralized autonomous organizations (DAOs), decentralized finance (DeFi) applications, and metaverse world,” MetaMask said in a statement.
The 21 million users announcement came at the heels of another announcement – a $200 million financing round for ConsenSys the developers MetaMask. Part of the funding will be used to expand in Asia. According to Amit Rajpal, Partner and CEO for Asia at Marshall Wace, “We particularly look forward to working with Joe and his team to enhance their presence in the Asian region where adoption rates are rising rapidly.”
While BitPinas does not have data to confirm the rising number of DeFi users in Asia, outside the increase in MetaMask users in the Philippines, a number of entities in Asia, such as Yield Guild SEA, has raised $15M in funding which would be use to onboard more users to play-to-earn games in Southeast Asia, signalling the growing adoption in the region.
This article is published on BitPinas: MetaMask Has 3.57 Million Users in the Philippines in 2021