HO CHI MINH CITY, Vietnam, September 15, 2021 (GLOBE NEWSWIRE): Headquartered in Southeast Asia RedFOX Labs has launched its first STORE auction for the RFOX FALL metaversa, which begins on September 14, 2021, at 16:00 GMT + 7, and lasts 72 hours. The shops available for the tender are located in the artistic-themed neighborhood of Callinova of the metaverse RFOX VALT.
RFOX VALT is a totally immersive shopping experience and compatible with virtual reality. Combining game elements, RFOX VALT forms its own autonomous metaverse experience. Bring the best in class encryption through NFT and real-world e-commerce, gaming and entertainment applications. All SHOPs, assets and billboards are NFT and create unique opportunities for people to win, interact and create.
The first SHOP auction of the RFOX VALT metaverse is a significant part of a larger metaverse movement within the cryptographic space and beyond. The global metaverse market is projected to reach $ 280 billion by 2025, representing more than 600% growth from just $ 46 billion in 2020, according to Strategy Analytics Inc.[1]
Major technology and video game companies around the world are joining the metaverse market, such as the gaming platform Roblox, which went public this year and had a market capitalization of $ 52 billion in June 2021, and WeChat , which has already been called Metaverse 2D, where customers can do just about anything, from socializing and shopping to paying for real-world stuff and communicating at work.[2] Meanwhile, Facebook has voiced its vocation on the transition from a social media company to a metaverse, and Epic Games has recently raised $ 1 billion, claiming that its success Fortnite is a metaverse rather than a game .[3]
This interest in metaverse has also manifested itself in many institutional and individual cases. Galaxy Digital billionaire cryptocurrency investor Mike Novogratz recently took on a leading investor role in virtual real estate developer Republic Realm, in particular his $ 10 million investment vehicle, through his venture capital arm Galaxy Interactive .[4]
Janine Yorio, co-president and CEO of Republic Realm, commented:[5]
“There was a reason for interest in digital real estate in the metaverse. We thought that creating a fairly simple investment product for the participation of individual investors … would be something that would have a lot of positivity. We are starting to invest in the same metaverse platforms in some infrastructure, so we are very excited about the metaverse space ”.
With the RFOX VALT SHOP auction, Red Fox gives individual investors a meaningful voice in dictating the future of the retail metavers they are building. Investors may have a virtual STORE in RFOX VALT participating in the auctions to be held for these assets. An RFOX VALT SHOP can unlock unlimited opportunities within one of the 120 STORES that make up the RFOX VALT.
For the first auction, RFOX VALT offers 25 shops in the Callinova neighborhood with an artistic theme through the Ethereum network. The neighborhood of Callinova got its name from a combination of “Street”, which represents calligraphy and is also inspired by the moon of Jupiter Callisto and “Nova”, after the supernova. The new name represents an artistic explosion of brilliance, which RedFOX aims to achieve for this quarter.
RFOX VALT will strive to incorporate VR and AR technology, as well as future AI technology, in addition to offering digital items, including those issued through blockchain smart contracts and non-fungible tokens (NFTs). In its first iteration, RFOX VALT will be a purely online platform offering digital resources worldwide. As e-commerce evolves into virtual space, RedFOX will launch virtual spaces located in Southeast Asian countries, where digital and physical purchases can be made using RFOX VALT.
Ben Fairbank, CEO and co-founder of RedFOX Labs, commented:
“We are building a future that I am extremely excited about. It is a big and complex vision with many moving parts, but we are starting one step at a time and we are extremely proud to present to you what we believe is not just the future of our ecosystem, but it will also redefine digital inclusion, e-commerce and immersive experiences. “
To participate in the first SHOP auction of the RFOX VALT metaverse, visit https://www.rfoxvalt.com
About RedFOX Labs
RedFOX Labs is a Southeast Asian-based business builder that identifies and builds successful business models for emerging markets in the region. It focuses on unlocking the true market value of the Southeast Asian digital economy for services with high consumer demand, such as e-commerce, e-media, e-travel, and sports / games, and focuses on adding value. in the digital economy -ons through blockchain. As a company, its value is negotiable as $ RFOX witnesses on the Ethereum platform.
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References:
1 – https://www.kedglobal.com/newsView/ked202107080010
2 – https://www.washingtonpost.com/video-games/2021/07/01/metaverse-investments/
3 – https://www.gamesindustry.biz/articles/2021-08-20-what-is-the-metaverse-and-why-is-it-worth-so-much-money
4 – https://www.reuters.com/business/exclusive-crypto-billionaire-novogratz-leads-funding-virtual-real-estate-firm-2021-06-30/
5 – https://www.youtube.com/watch?v=9SPlEH3TmLs