Following the recent launch of FishBlocks—a new take on the traditional Filipino street food fishballs, paired with a non-fungible token (NFT)—the news garnered reactions from industry thought leaders and the community, with most criticizing it and questioning its use case.
What are FishBlocks?
During the March 31 press launch of the upcoming Philippine Blockchain Week (PBW) 2025, Marvin Agustin, an actor and a restaurateur, introduced FishBlock, a block-shaped fishball dish bundled with NFTs minted on Bayanichain.
The food is available at his two restaurants, Cochi and Kondwi, for 1,000 KIKI tokens. The launch noted that it aims to make blockchain more relatable while ensuring the dish remains delicious, featuring flavors inspired by Luzon, Visayas, and Mindanao.
In a Facebook post, Bayanichain co-founder Gelo Wong highlighted that the NFTs included with each order of FishBlocks were created by Filipino artists, adding in the comments that each purchase comes with a free NFT claim.
Local Industry Leaders Reaction
- In a comment on a BitPinas post, Tacloban-based Paytaca CEO Joemar Taganna criticized what he called the blockchain gimmicks of PBW. He noted 2023’s Miss Universe coin and this year’s FishBlock NFT, questioning their purpose and arguing for more meaningful blockchain applications.
“For this year there’s Fishblock: buy a fishball, get an NFT. This time, it’s backed by Marvin Agustin’s celebrity charm, adding a splash of star power to the mix. It’s quirky, it’s fun—but it makes you wonder: what’s the real objective? If the goal is to promote blockchain tech to a wider audience, I’m not convinced these gimmicks are doing the trick. This technology holds so much more promise—let’s not sell it short.”
Joemar Taganna, CEO, Paytaca
- In addition, DVCode CEO and ICP Hub PH Tech Lead Eliezer Rabadon emphasized the importance of real use cases for FishBlocks and cautioned against cluttering the blockchain with worthless assets.
- Moreover, in a separate Facebook post, ETH63 core member Christine Erispe also criticized FishBlock as a pointless blockchain use case. She suggested turning Agustin’s food business into a tokenized real-world asset experiment, where attendees own fractionalized shares and track earnings—highlighting the potential of blockchain beyond gimmicks.own fractionalized shares and track earnings, highlighting the potential of blockchain beyond gimmicks.
“People will get sick of eating fish balls by the end, thinking Marvin should have tokenized an apartment complex instead.”
Christine Erispe, ETH63
On BitPinas Facebook posts (1, 2, 3) highlighting the FishBlocks launch, the comment sections are overwhelmingly skeptical, with many users dismissing the NFT project as a likely “rug pull” or cash grab.
- Some criticize Filipino celebrity-backed crypto projects in general, arguing that they often end up worthless.
- Some comments pointed out how the project is a misuse of blockchain technology, especially since fishballs are associated with affordability:
- On a more serious note, there were also some community members who questioned its purpose, wondering if it truly promotes blockchain adoption or is just a marketing stunt. Concerns were also raised about sustainability and practical use cases beyond being a novelty.
This article is published on BitPinas: Don’t Sell Blockchain Short: Crypto PH Grills Fishball NFT ‘Gimmick’
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