GCash, the number one finance app in the Philippines, has partnered with the NFT game Axie Infinity to enable players to buy and sell AXS (Axie Infinity Shards) and SLP (Smooth Love Potion) tokens via the mobile wallet app's GCrypto feature.
Through this collaboration, the Filipino Web3 gaming community can securely transfer their cryptocurrency from the Axie ecosystem to GCrypto. Additionally, they can effortlessly convert their in-game currencies into fiat money or Philippine pesos (PHP), all within the same app. Further, users can utilize GCrypto as a conversion portal for other games in Sky Mavis' Ronin ecosystem, including Pixels.
The Philippines has been a hub for Axie Infinity, Ronin, and Web3 gaming. For instance, Filipinos showed the highest interest in Web3 gaming globally in the last three years. However, the strict crypto regulations can sometimes limit these early adopters.
The user base of the Axie Infinity game is mostly dominated by Filipinos, accounting for up to 50 percent of the total users. The same trend can be observed in Pixel's user base, with an increase in the number of Filipino players. This has resulted in the Philippines becoming the largest geography for the game, which boasts over 170,000 daily active users (DAU).
This initiative by GCash and Axie Infinity ensures compliance with the industry's most stringent governance practices and introduces new measures to make the user experience even safer and more secure.
Luis Buenaventura, GCash head of GCrypto, said:
This collaboration is another step ahead in our mission to transform the potential of blockchain technology and to democratize it even more, going beyond the purchase, sale, and maintenance of cryptocurrencies in the GCash app. By working together with Axie Infinity and its Ronin ecosystem, we will continue to achieve our mission to remove the financial and technical barriers of crypto gaming while putting our user's safety as a top priority.
Jeff Zirlin, co-founder and chief growth officer at Sky Mavis, said:
The Philippines is the beating heart of Web3 gaming. GCash has over 80 million installs in PH, and we're ecstatic to bring economic freedom to this massive community. This partnership will make it even easier to onboard everyday people to our movement.
Here's How to Use the GCash/GCrypto Feature for AXS/SLP Trading
You can buy and sell AXS and SLP coins on GCrypto. Here are the simple steps you need to follow:
Step 1: Log into your GCash app via your MPIN and click on GInvest on the homepage.
Step 2: Select GCrypto. Update your account details if prompted.
Step 3: To begin trading, top up your crypto wallet using your GCash.
Step 4: Once your crypto wallet is funded, you can look for AXS and SLP to buy or sell.
In addition to the games it offers, Ronin also provides Katana DEX which is a decentralized exchange for trading in-game tokens such as AXS and SLP directly on the blockchain. This platform is currently used by games like Axie Infinity and Pixels on the network. Recently, Sky Mavis has relaunched Axie Infinity Classic and launched a merch store to introduce more people to Axie Infinity and encourage a new generation to join the Web3 community.
Sources:
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