Blockchain Games & Blockchain-Enabled Tech Ventures Are 2 Different Animals
Staying current with news out of RedFOX headquarters means hearing, seeing, and reading a lot about blockchain gaming. Yes, we absolutely love it!
Now, you may be asking yourself why Southeast Asia’s first blockchain venture builder is flying reps out to Los Angeles. Why does RFOX feel the need to have a presence at one of gaming’s hottest annual conventions?
Well, rather than tell you about it from Vietnam, we’ll let Adam explain things from the show floor:
RedFOX Labs is extremely excited about the upgrades blockchain tech offers the world’s gamers. From transparency to disintermediation to a secure means for exchanging digital assets, blockchain is a massive value-add for the gaming industry. As such, we created a gaming division of RedFOX Labs.
And now that you have an idea of what our first venture entails let’s put everything into perspective according to our plan of attack.
The RedFOX Labs Venture-building Strategy
To be clear, RFOX isn’t a gaming company. Instead, we’re a venture builder, and the first venture we’re building is within the gaming industry. Do you see the difference?
Now, as this fan-made article explains, we have a very deliberate and calculated method for replicating unicorn companies.
Here’s a quick rundown for you:
The First 100 Days
It’s important to note that before we even start counting the days, a venture is selected. We reach this phase only after choosing a successful business model to replicate using blockchain tech.
In other words, if we can’t apply blockchain and other emerging technologies to enhance a proven revenue-generating concept, we won’t build anything at all.
We’re actively involved in project execution during this time frame, assuming the following responsibilities:
- Hiring local experts
- Developing and testing products
- Defining a target market
- Marketing strategy and execution
- Establishing a compliant legal framework
The first three months are meant to get the proverbial ball rolling. And we’ll be in the thick of it with every new venture we build.
The Next 100 Days
Now that our venture-building gears are in motion, it’s time to scale. We enable expansion by tackling a new assortment of tasks:
- Devising a 2- to 3-year business plan
- Mapping customer experience and touch-points
- Fund-raising assistance
- Reviewing, refining, and improving products
- Analyzing market opportunities
Once our 200 days end, we head back to RFOX castle. And we’re anything but empty-handed.
During the first 200 days, we’re very active in the entire creation and promotion of new ventures. But once we get back home, we hit reset and begin the whole process all over again.
However, before handing the venture off to local experts, we retain a few valuable items:
- A majority stake in the new venture’s equity
- Seats on the venture’s board of directors
Our team of local experts takes over and handles the day-to-day operations, while we take a backseat and focus on building another blockchain-boosted venture.
The blockchain and gaming industries are on a collision course. Once the gaming industry at large gets wind of how blockchain can improve its games, it’s game over for traditional gaming.
And this powerful confluence heavily influenced our decision to select gaming as the niche for our first venture. We’re already making inroads into the industry, and further announcements are forthcoming. That said, we want to ensure you know what defines RedFOX Labs as an organization.
We’re a blockchain startup that builds blockchain startups.
And while our first venture is in the gaming industry, it’s the first of many. We won’t pigeonhole ourselves as all games, all day, every day. Yes, we’re building a blockchain game, but please refrain from referring to us a blockchain gaming company, okay? Cheers!
We’ll see you back here on Friday when we take a deeper dive into how blockchain tech levels up the gaming industry. Catch you then!
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