In Venezuela, cryptocurrencies are part of a political candidate’s program

In Venezuela, candidate José Alejandro Terán bets on cryptocurrencies and NFTs. He wants to create a real “talent pool” for cryptocurrencies.

Cryptocurrencies are becoming more and more popular. If most governments are still quite averse to these digital currencies, some are quite favorable to them. This is particularly the case in Latin America. El Salvador, for example, has made bitcoin its second legal tender. Today we head to Venezuela, with a gubernatorial candidate campaigning promoting cryptocurrencies and non-fungible tokens (NFTs).

In Venezuela, candidate José Alejandro Terán bets on cryptocurrencies and NFTs

José Alejandro Terán thus announced through Instagram the creation of a scholarship, called Axie Infinity La Guaira, for citizens who wish to join the Technical Training Center for the extraction and administration of digital assets. This center will offer specialized training in NFT, mining and cryptocurrency trading. This is supported by the National Cryptoactive Superintendency (SUNACRIP), the Axie Infinity Academy, the Independientes con Terán political group and the youth of the United Socialist Party of Venezuela (JPsuv). Therefore, the candidate’s objective is: to make this Center a “talent pool” for cryptocurrencies. Your goal is to create 1,000 jobs in a year.

and intends to create a true “talent pool” for cryptocurrencies

According to the crypto and blockchain company Chainalysis, Venezuela is in seventh place in its ranking of countries for crypto adoption (Global Crypto Adoption Index). And according to SimilarWeb data, Venezuela has the second highest number of Axie Infinity players, only behind the Philippines, but ahead of the United States or Argentina and Brazil. And the reason is simple. According to Angélica Valle, head of the Celo ecosystem in Mexico, Venezuelans do not see Axie as a game, but as “a way to make money,” a way to deal with hyperinflation in the country. What Carlos Betancourt, founder of BKCoin Capital, sums up very well: “Axie allows Venezuelans to earn money in cryptocurrencies instead of their deficient currency.”

This difficult economic situation makes the country a very interesting region for certain cryptocurrencies. So it is quite logical, ultimately, that games like Axie Infinity are experiencing awesome craziness. As for how it will all end, that’s another story …

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