This week, NFT News Insider , a leading blockchain media dedicated to NFT and the Metaverse, had an interview with RedFox Labs CEO Ben Fairbank , deep-diving into the company recent launch of RFOX VALT; Arkamoto. Here are the snippets:
Can you please introduce yourself what you do in the company?
I am the co-founder and CEO of RFOX. I built this company and led the creation of the different businesses within it, including the RFOX VALT, which is our company’s core offering, and the other parts of the RFOX Ecosystem such as RFOX Games (play-to-earn online gaming), RFOX Media (live streaming and digital marketing), RFOX Finance (decentralized finance), RFOX NFTs (NFT platform development), and more.
A brief description what RFOX VALT: Arkamoto is about?
Allow me to talk about the RFOX VALT metaverse first. The RFOX VALT is a fully immersive, virtual reality-driven retail and entertainment experience in the metaverse that combines gaming elements, bringing together the best-in-class of crypto through NFTs and real-world applications of e-commerce, gaming, entertainment, and more. We are building a metaverse that will be accessible through whichever platform is available to you, whether through VR headsets, personal computers, or mobile devices. And in this environment, you have the power to virtually interact with other people in the metaverse, whether through events, games, markets, and more.
We recently introduced Arkamoto as RFOX VALT’s gaming-inspired quarter, though we welcome all businesses to participate. Arkamoto is named after the combination of the words “arcade,” which is of course gaming-related, and “Nakamoto,” after Satoshi Nakamoto, the pseudonym of the creator/s of Bitcoin. Aside from the virtual land that we are making available for auction, which we call SHOPs, Arkamoto will have several areas dedicated to gaming and live e-sports tournaments in the RFOX VALT metaverse.
Could you briefly share your first campaign: SHOP Auction?
During the upcoming SHOP auction for Arkamoto, a total of 25 SHOPs will be available for sale to interested parties, starting December 9, 2021, at 12 PM GMT+8.
To join this auction, acquire some ETH that you will use to buy SHOPs in the RFOX VALT. Connect the crypto wallet that contains your ETH to https://auction.rfoxvalt.com/ to join the auction and submit your bids.
Auction winners will get their SHOPs in the form of NFTs, which will give them access to tools for customizing their 3D SHOPs with different interior designs and textures, as well as managing their NFT assets on sale. In the future, they will also be provided a hosted white-label storefront website with an integrated NFT marketplace and NFT creation tools
What's the special features that make Arkamoto different from other competitors?
The RFOX VALT allows its SHOP owners to tap into not only the tools it provides for setting up your SHOP but in addition, it allows you to plug into a network of users from across the RFOX ecosystem, of which many are already familiar with NFTs, digital items and the type of transactions that will take place in the metaverse.
Having a ready-made audience, access to cutting edge technology and being able to offer your customers an immersive experience, gives you a significant advantage over your competition.
The RFOX VALT's SHOPs are extremely limited in supply. Other virtual worlds typically just expand and create additional land and spaces, but the RFOX VALT is limited to the number of SHOPs in each quarter. They are as follows:
25 SHOPs per quarter for public auction
2 SHOPs per quarter for marquee brands
3 SHOPs reserved for RFOX ventures and partners
Compared to the land supply of other metaverse projects, including The Sandbox (166,464 LANDs) or Decentraland (90,601 LAND parcels), the 100 SHOPs for sale in the Genesis RFOX VALT have proven scarcity.
What will you do when you receive the ETH from auction?
For this auction, SHOPs will be available for sale in exchange for ETH, which will be used as the cryptocurrency of choice for the auction. RFOX intends to use 45% of the ETH collected from the auction to buy back RFOX on the open market and allocate those tokens for staking, farming, burning, rewards, and funds for RFOX VALT caretakers that we call Quartermasters. We will also use some of the proceeds for further development of the RFOX VALT, for our global marketing effort, and for attracting builders, innovators, and collaborators to join us in expanding the metaverse.
You can refer to this infographic we made for more information about how we’ll use the ETH proceeds from the auction:
How can Arkamoto and the SHOP Auction benefit RFOX community?
With the SHOP auction, we are bringing the RFOX community closer to our metaverse vision. The community has supported us through our creation of the RFOX VALT, as well as the rest of the RFOX ecosystem: RFOX Games, RFOX Finance, RFOX Media, RFOX NFTs, and more. And by getting closer to the full launch of the RFOX VALT, we are showing the community that the support they gave us has been very fruitful. Plus, they get a chance to own rare virtual land when they join the auction.
Arkamoto is actually our second SHOP auction, and this has been timed well with the increased public attention given toward the metaverse. We expect the momentum around the metaverse to fuel further growth for our RFOX token holders, as well as the winners of the auction and the general public that will use the RFOX VALT soon.
Aside from the SHOP auction, there are other developments on the RFOX VALT that have benefited our users in the long run. Through our partnerships with blockchain companies such as CoinGecko, ICON, and Yield Guild Games, these companies will gain a foothold in the metaverse we are building. This expands the potential audience of the RFOX VALT when it launches, and this expansion also benefits RFOX stakeholders such as those who currently hold RFOX tokens.
Why do you want to start this project?
We have started RFOX in 2018, and the metaverse has always been our main focus. We want to be a major player in shaping the future of the Internet through the metaverse. We see the metaverse as the next big frontier in the advancement of tech worldwide. We have also shown through the businesses that we built that we are adept in building solutions for fast-growth industries. More importantly, these businesses form the RFOX Ecosystem, which enhances our RFOX VALT metaverse by offering the kinds of services that will be highly used in the metaverse of tomorrow.
About RFOX
Based in Southeast Asia and established in 2018, RFOX is a blockchain metaverse builder. Building in the fastest growing sectors of the internet economy, RFOX builds interoperable companies and applications that are showcased in a virtual world called the RFOX VALT.
RFOX has established ventures in RFOX Games (a play to earn NFT Gaming platform), RFOX Finance (DeFi Protocol), RFOX TV, RFOX Media (which acquired MYMEDIA MYANMAR with 13 million active users) and RFOX NFT Whitelabel Platform. The RFOX ecosystem is powered by its currency token RFOX, and rewards users through its VFOX rewards token.
Website: https://www.redfoxlabs.io/rfox
Facebook: https://www.facebook.com/redfoxlabs.io
Twitter: https://twitter.com/redfoxlabs_io
YouTube: https://www.youtube.com/channel/UCjSvr6RFSMlN00mWRiU0mSQ
Discord: http://discord.gg/rfox
