South Korea’s Kakao and Japan’s LINE are set to introduce a new blockchain platform named Kaia in the Philippines, leveraging the country’s growing interest in Web3 gaming. Kaia, formed from the merger of Kakao’s Klaytn and LINE Tech Plus’s Finschia, will capitalize on the rising popularity of blockchain technologies in the region.
Kaia will be officially launched worldwide in the coming months as one of the largest blockchain platforms in Asia. Kakao and LINE have previously focused on blockchain technology in games, non-fungible tokens (NFTs), and cryptocurrency, combining their expertise to establish Kaia.
Web3, the third generation of the World Wide Web, enhances user control over digital assets, such as cryptocurrencies and non-fungible tokens (NFTs). This decentralized ownership model aims to empower users within the blockchain ecosystem.
During the launch event, a Klaytn Foundation representative highlighted the importance of gaming in the Philippines’ Web3 landscape. The foundation plans to establish a strong presence by introducing blockchain-based games and collaborating with local gaming teams. While gaming will be the primary focus, Kaia also intends to explore other blockchain applications in the Philippines over time.
Sam Seo, Representative Director of Klaytn, emphasized Filipino users’ active participation in gaming and the potential for integrating blockchain technology into various sectors, including partnerships with local governments, banks, and developers.
Kaia has over 420 decentralized applications (DApps), which are programs running on a blockchain or peer-to-peer network of computers. The platform also announced the release of Infinite Shooting and four other games in collaboration with 3KDS, alongside Web3-powered arcade games from Another World. These diverse applications aim to attract a wide audience and enhance user engagement within the Kaia ecosystem.
The foundation’s representative expressed a desire to collaborate with the government, financial institutions, game developers, and other DApp creators to have a supportive environment for blockchain innovation. This approach underlines Kaia’s commitment to building a robust and inclusive blockchain ecosystem in the Philippines.Â
Despite the promising outlook, there are challenges to widespread cryptocurrency adoption in the country. A senior campaigns manager from Coins.ph highlighted that there is still a prevalent perception among Filipinos that cryptocurrency is a scam, largely due to a lack of education. However, he noted that the cryptocurrency landscape in the Philippines is progressing well compared to other Western countries, though it remains in its early stages.
The Kaia team envisions a future where Web3 achieves mass adoption, recognizing that while many crypto enthusiasts and traders are already on board, broader acceptance among the general population is still a work in progress. Their strategic partnerships with organizations like Yield Guild Games, a gaming guild that coordinates players to earn crypto-based rewards in play-to-earn (P2E) games, and virtual currency provider Coins.ph, reflect their commitment to overcoming these challenges and fostering a broader understanding of blockchain technology.
As Kaia prepares for its launch, the platform’s multifaceted strategy includes leveraging the existing interest in NFT gaming, collaborating with key stakeholders, and addressing educational gaps in cryptocurrency understanding.Â
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