By Shiela Bertillo
Peter Ing, Founder of metaverse guild hub BlockchainSpace, expressed his surprise with how the blockchain and cryptocurrency industry as well as non fungible tokens (NFT) exploded due to Axie Infinity’s popularity. Peter brought this up during the second episode of BitPinas’ weekly webcast.
“I remember some of the Axie (Infinity) gamers doing live streams, watching other people play and hosting tournaments. And (it got me) thinking, wow this is going to be really big. I think I could see other games coming into this space and other people spectating on this, but I just really didn’t expect how fast the whole blockchain game or NFT game industry would actually explode,” he stated.
The Early Days of BlockchainSpace
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The BlockchainSpace founder revealed that they used to host at least 120 meetup for cryptocurrency enthusiasts as early as 3 years ago to advocate adoption of blockchain technology and teaching people how to get into wallets, teach them how to trade, teach them about the protocols and this new technology. (Editor’s note: BitPinas regularly attend these events.)
The Fabled Axie 2019 Meetup in Manila
He also mentioned that they also hosted one for Axie Infinity in Manila in June 2019 with Gabby Dizon, co-founder of Yield Guild Games (YGG) and Jiho or Jeffrey Zirlin the co-founder of Axie Infinity himself, noting that the community as well as the game we’re very different at that time.
Peter witnessed the transition of Axie Infinity into mobile and the release of the cryptocurrency SLP in January 2020.
Peter stated that these changes made it “very clear that for me there was no going back. We had to go in and shift BlockchainSpace into some kind of a different vertical.”
The New BlockchainSpace
“I mean, the mission is still the same; encourage adoption of the technology to as many people around the world as possible. But Axie (Infinity) showed us that maybe the way that we were going with the education was the wrong way.” Ing said.
He emphasized how Axie Infinity brought in at least 2.2 million players. And the game brought millions of people into crypto without going into the “hurdles of teaching them” such as the creation of the wallets, how to do transactions, and how to understand private keys from the very start.
“It was amazing to see. I have been in the industry for so many years but I’ve never seen this widespread adoption of decentralized wallets as quickly as when Axie took off in the Philippines,” the BlockchainSpace founder expressed.
The Most Compelling Way to Onboard People into Crypto
He also mentioned this rapid growth was the signal that NFT games will onboard the next hundreds of millions of people into crypto and into web 3.0.
“It is just the most compelling way to bring people in with no hurdles, no technical barrier, no upfront cost and of course the Axie Scholarship model basically was the one of the key drivers of this growth,” he pointed out.
Moreover, Peter Ing also disclosed that BlockchainSpace was one of the first Axie Infinity’s scholarship providers which started back in September last year.
“Axie Academy basically started growing and because of my background in fintech and ecommerce and having access with tech co-founders I was able to build some tooling around the Axie scholarship model,” he said.
Peter stated that he sees Axie Infinity scholarships as a business model community of gamers called guilds. He looks forward to seeing the upcoming models for other upcoming games in the future.
“Even Axie itself, I think will (have) another business model that evolves. Just like in Land gameplay, so when Land launches the rental model will be different, Land gameplay won’t be about loaning accounts for people to play for a commission share but it will be rather incentivising. Communities to come to your Land and farm yields. I think there will be a lot of business models to come out here.” Peter explained.
BlockchainSpace Discord Bot
Further, he also introduced their discord bot which allows their players to check their balances at any given time. He reiterated to the scholars, players that what is inside their wallet, it’s not just tokens of any game.
“If you earn tokens in Axie, those are equivalent to dollars or equivalent to real life money. It’s equivalent to seeing money in your bank accounts. I think that is something people have to absorb. If you look at a wallet for a play-to-earn game, all the tokens you are looking at are basically an extension of your wealth, of what you own financially,” he stated.
Peter assured that the bot is safe and it only informs the owner of their balance and won’t take from it.
Recently, BlockchainSpace announced that it has raised another $2.4 million strategic funding round led by Morningstar Ventures with the participation of Crypto.com, Alameda Research (FTX), Kingsway Capital, OKEx Ventures as well as play-to-earn guild UniX Gaming. The funds will be used to onboard the next 20,000 play-to-earn guilds worldwide as well as accelerate its growth in the rapidly expanding NFT gaming industry. (Read more: BlockchainSpace Raises Additional $2.4M In Strategic Funding Round)
This article is published on BitPinas: BlockchainSpace Founder: Axie Infinity Is The Most Compelling Way to Onboard People Into Crypto and Web 3.0