When it comes to metaverse interest, Philippines is leading globally amid government drive to improve digital economy

Interest in the metaverse in the Philippines has recently surged to frenetic levels, with the country occupying the top position in a new study.

Research from the virtual currency learning platform Coin Kickoff noted that Filipinos are “most interested” in virtual worlds ahead of every other nation. The study, titled The Meta-Verdict: Metaverse Interest and Sentiment Around the World, swept through Google searches of 193 countries to reach its conclusion.

The report noted 2,421 searches per 1,000 people related to the metaverse in the Philippines. The closest nation to the Philippines was Grenada, with 1,472 searches per 1,000 persons, while Peru came close at third place.

Other countries that made Coin Kickoff’s top ten list include Nigeria, Ukraine, Taiwan, Sri Lanka, Turkey, Singapore, and Portugal.

In 2022, the Philippines hosted Asia’s largest metaverse conference, drawing major industry players to Manila. Prior to the event, Filipinos have already been dabbling in metaverse gaming while those in the corporate sectors are experimenting with its utilization to improve workplace productivity.

However, despite the Philippines’ interest in virtual currencies, Coin Kickoff’s latest study shows that the country ranks second for metaverse positivity. Vietnam occupied the first position, hinting at a whiff of skepticism among Filipino users towards the metaverse.

Blockchain initiatives in the Philippines

The Philippines have been making giant strides with blockchain technology, mainly driven by its tech-savvy population. Asides from the ingenuity of citizens, the government and regulatory policies have played their path in driving up the adoption metrics of the technology.

In November, the Maritime Academy of Asia and the Pacific (MAAP) announced that Filipino seafarers would no longer need to present physical copies of their documents to maritime companies. Instead, credentials will be stored on the distributed ledgers, allowing cadets to use an e-wallet to show their credentials.

Other initiatives include forming a Blockchain Council, the government’s plans to create a state-run distributed ledger, and UnionBank’s plans to stimulate growth for small- and medium-sized enterprises using blockchain. Recently, the Provincial Government of Bataan has signed a memorandum of understanding with nChain to lay down the framework for a digital platform that will streamline government services.

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