Coins.ph, the Philippines’ leading digital wallet provider and crypto exchange platform, last week launched the country’s first ever virtual reality (VR) avatar studio at its office at the UnionBank Plaza in Ortigas.
“We look forward to helping pioneer the adoption of the metaverse here in the Philippines. We have the opportunity to become a global leader in this new digital environment where physical constraints no longer hold us back. With a young and tech-savvy population, the Philippines is in a prime position to make the most of this new technology, making our lives easier, more efficient and productive,” said Eprom Galang, General Manager of Coins.ph.
Galang noted that how virtual influencers have been fast gaining popularity across the globe. The VR avatar studio merges the unique value of NFTs with the power and reach of virtual influencers.
A female model wore a motion capture suit or a CGI suit that was accurately mimicked by an NFT, in this case, a Bored Ape NFT.
NFTs have gained popularity in the past years as they allow people to either create or own digital art that’s one of a kind, with monetary value up to millions. NFTs have gone beyond digital art, with businesses and brands leveraging NFTs in marketing campaigns.
These include fashion brands creating digital art of their physical clothing collection, multinational companies creating unique NFTs to help promote their corporate social responsibility efforts, and lifestyle brands giving exclusive rewards and benefits through NFTs.
In the Philippines, NFTs are being embraced by Filipinos and companies are making the most of it by engaging their customers. Now, brands can bring consumers to a unique universe where their products are showcased, Coins.ph executives said.
They said the Coins VR Avatar Studio is a step forward towards the metaverse.
By launching the first ever VR Avatar Studio in the Philippines, Coins pledged to tap into the metaverse by creating entertaining content and growing VR Avatar influencers to bind crypto, gaming and more communities together.
Brands and users will be able to transform their NFTs into VR avatars through Coins VR Studio. The NFT VR Avatars can act as an extension of their online and metaverse identity.
In the near future, Coins plans to have a set of virtual influencers and hosts that can engage the Coinmunity through interactive content that will educate Filipinos on how to achieve financial freedom through cryptocurrency, NFTs and play-to-earn gaming, the company said.