Crypto platform gains traction in PH

MANILA  -Hong Kong-based tech firm Rola is projecting a “strong growth” in its crypto-focused social media platform this year, citing rising usage in the Philippines where its active users have hit 100,000 to date.

Rola chief product officer Rosalind Lee told the Inquirer that Filipinos comprised more than half of the current user base of the Rola.ai platform, which was launched three months ago.

“Filipinos, they are so passionate about the crypto world. When they love something, they engage. That’s why more than half of our users are from this country,” Lee said on the sidelines of a forum recently sponsored by the company at the Palace Club in Taguig.

Rola touts its social media platform as a pioneering crypto community platform designed to democratize the Web3 experience, citing that it combines artificial intelligence (AI) technology with a user-friendly interface and community-driven features.

One of its salient features is a predict-to-earn system, where it rewards users with the platform’s very own crypto-currency called $Rola tokens for accurately predicting crypto market trends.

“It can be used to purchase NFTs (non-fungible tokens) and participate in our other games as well. And of course, they can trade the token for cash,” she said.

Another game-based social aspect of the platform is its answer and earn feature, rewarding users with $Rola tokens as well.

Because of the strong reception in the Philippines, the Rola executive said they were looking to roll out a Filipino language, as well as a Visayan dialect, translation feature in the future.

“In our community, many of our Filipino users, they speak in Tagalog or Bisaya. But we have users from the U.S., UK and Singapore, for example. They don’t speak the language. So, we want (a translation feature) to help them communicate),” Lee said.