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IPFS News Link • Korea/North Korea

Non-Fungible Tokens Are "Changing The Lives" Of Many In Southeast Asia

•, by Tyler Durden

At least that was the topic of a new report by Nikkei, which took at look at how skeptics and believers are clashing head-to-head about NFTs, whether they have any value and whether or not they could be the future of asset ownership and finance. 

"NFTs are indeed changing the lives of some Southeast Asians" the report notes, with some people using them to earn extra income. One such person is Gilbert Jalova, who has been buying and selling digital assets in a game called Axie Infinity. He can earn up to $550 a month doing so, the report notes, which is "more than he makes in his regular job". 

Jalova said: "It's a huge help to us and at the same time, it has become our family bonding."

The report estimates that more than 80% of Axie Infinity's player base comes from emerging economies where it is tough to find work or where inflation has run rampant. 

"People are turning to these games as a way to supplement their income or as an alternative means of employment," one Filipino game developer said.