Year after year, Southeast Asia’s ‘Big Six’ countries — Indonesia, Malaysia, the Phillippines, Singapore, Thailand, and Vietnam — continue to experience phenomenal rates of economic growth.
Earlier this week, we shared insights into Google’s 2019 ‘e-Conomy SEA’ report, which validates our choice in organizational headquarters. With the region’s Internet economies recently crossing the $100B mark, the competition for brand recognition is increasingly intense.
Now, on the surface, it may seem prudent to immediately inject products and services — like our upcoming cashback app — into each of these rapidly developing regions. However, to bring about sustainable growth, we must carefully choose a road to travel.
But rather than sprinting ahead, frantically running in multiple directions, we’re following a map. Team RedFOX is playing the long game, which, as you’ll soon see, is the only way to move ahead of the pack.
Slow and Steady Wins the Race
A typical growth strategy among blockchain startups is to purchase social followers. But all you’re doing by going that route is building a castle made of sand. Before long, the moon creates a tidal shift that washes away the layers until nothing remains.
Fake followers are wholeheartedly disengaged — which is why we refuse to buy them. Conversely, organic growth lays a framework on which engaged users can interact with our blockchain-powered creations.
Social media bots are ineffective users of products and services.
Yes, being genuine requires much more effort. But we can’t measure success by how many fake profiles we have sitting in a Telegram channel. Point is, buying our way to the top is not a feasible long-term strategy. We’re building real-world products and services that real-world people can use to make their lives easier.
Brain Over Braun
Now, if you’ve read the report, you know that Indonesia possesses the most significant and fastest-growing Internet economy within all of SEA. So, why didn’t RedFOX Labs set up shop in this island nation?
The answer is simple: we’ve done our homework. As one of the first countries to see a massive influx of investment capital, Indonesia already contains its share of unicorn companies.
The image above reveals similar growth percentages between Indonesia and Vietnam. Both countries’ Internet economies grew by more than 40% over the past four years. The difference is, Vietnam remains relatively untapped.
Operating from Vietnam allows us to entrench ourselves within the country’s blooming Internet economy.
You see, we’re not trying to muscle our way into a fight over scraps dropped by Indonesia’s established players. Instead, we’re calmly traveling to our destination along a charted route.
From phony followers to listings on questionable exchanges, the blockchain industry offers ample methods of buying success. But that’s just it — any ‘success’ is merely an illusion.
And to us, genuine traction is far more important than perceived popularity. As Daymond John of Shark Tank fame can attest, the ‘cool’ organizations are usually broke. Companies that big-spend on opulence and lavish, “hey look at us” parties often end up with little more than a hangover.
Yes, our path is longer than others trying to reach the same peak. But we believe that building high-quality anything takes time and commitment. There are no shortcuts because nothing worth achieving comes easily.
RedFOX Labs aims to become a significant player within Southeast Asia’s flourishing Internet economies. And as the region’s first blockchain venture builder, we’re just settling in.