BinaryX Presented at the Biggest GameFi Event in the Philippines
Collision Of The Brilliant Minds
BinaryX presented to over 2000 attendees, 30 journalists, and the most prominent thought leaders in the industry at the Marquis Event Place, BGC, Philippines.
The Philippine Web3 Festival was mainly organized by BlockchainSpace, the enabler of play-to-earn guilds to scale in the metaverse, and the renowned Yield Guild Games (YGG), the world’s leading X-to-Earn guild.
BinaryX has been invited to participate in one of the panels. It was a pleasure to have our Global Head of Business Development, Chun Peng S., join the panel to discuss GameFi with some truly heavy hitters.
The panel was called “Which Play-To-Earn Models Work Best” and featured outstanding thought leaders from other notable projects. During the panel talk, everyone on the stage had their own perspectives on understanding GameFi economic models, and representing BinaryX, Chun mentioned, that all of us heard about the accusation that most GameFi are ponzi pyramid schemes. To shake off this stigma, GameFi projects need to reevaluate their economic model and create more circular value for players to promote continued interest and long term engagement in their games.
“This can be done by making game assets and tokens that are actually functional beyond a holding investment. There’s been talk of game utility tokens that allow gamers to farm or request for new items that can be used in game, or a community staking mechanism that allows gamers to stake their unused funds to provide value to newer players. Gamers are encouraged to hold on to their assets, or be more selective with selling them off if they have more use for it.”
However, the collision between these thoughts indirectly benefited the audience. It made audiences really put in the effort to think about the best way to drive GameFi to a peak higher than it has ever been before.
The Fans, The Players, The Opportunities
Aside from the panel talk, BinaryX was present with our own booth at the event center. The whole event lasted for three days and was dedicated to discovering the GameFi trends happening within the Philippines community and Global blockchain scenes. The event gathered more than 2,000 attendees, over 20 projects, institutional investors, and some venture capitalists.
We seized the opportunity not just to connect with our users and players in the Philippines, but also to seek collaboration opportunities with other projects, especially GameFi Guilds. As we just launched our latest game, CyberChess, guilds could be the most efficient way for us to maximize our regional coverage in this country. Fortunately, we connected with some local guilds with great potential and are looking forward to building a long-term relationship with them.
Lastly, we want to thank each of you for joining the festival with us, and we were really flattered by your passion and support! At the end of the day, Web3 is an ever-changing environment at an extremely rapid pace, but it’s you, our player, who holds our backs no matter how challenging the moment is, and for that, we will always be there for you all!
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