Why crypto has made a comeback in the Philippines

Published: March 25, 2024, 9:47 a.m.

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Crypto is once again big in the Philippines. It first took off during COVID-19 lockdowns in 2021 with a now-defunct video game called Axie Infinity, where players earned money \\u2014 often more than minimum wage \\u2014 through non-fungible tokens, or NFTs. Of course, the crypto winter soon followed with the implosion of FTX in 2022, but now crypto is back in a big way on the island nation. Marketplace’s Meghan McCarty Carino spoke with reporter Eli Tan, who recently visited and wrote about the scene for The New York Times.

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