Last week, we highlighted our collaboration with one of Myanmar’s most popular media companies. Because of our partner’s expansive social following — surpassing 11M fans — we have an enormous opportunity to bring blockchain adoption to the masses.
In case you haven’t seen it just yet, here’s MYMEDIA’s elevator pitch:
“MYMEDIA is a digital marketing corporation providing full-scale marketing and advertising services tailored to meet the needs of businesses of all sizes. We specialise in deploying creatively branded, cost-effective, online advertising and media campaigns that strengthen brands, engage audiences, and elevate business in Myanmar. Our focus is on digital and social media, and we utilize cutting-edge technology. Our partnership with RedFOX Labs brings a new kind of loyalty program to the people in Myanmar — rewarding them for daily online activities like watching videos, playing games, and viewing ads.
Our previous post covered mostly our part of the equation. In a nutshell, we’re using blockchain plus an underlying, non-tradeable cryptocurrency to revamp the loyalty rewards industry.
Here’s a bit more about how the system operates:
But today is less about us and more about them. We figure you’re interested in the reasoning behind selecting MYMEDIA as our partner of choice. Of all the media companies operating within Southeast Asia, why them? Well, you’re in luck because we’re ready to share details about their side of the story.
Now, you may have already figured it out. But our guess is that from here, you won’t have to read much farther before realizing why we’re so optimistic about this collaboration! Regardless, we’ll provide you with a few reasons.
MYMEDIA Knows Myanmar
Southeast Asia’s emerging markets represent countless opportunities for business growth. County by country, the region’s online, tech-savvy population continues to swell.
Per our business model, every new blockchain venture entails teaming up with local experts. And to reach our new partner for in-person meetups, we need only make a quick journey across a few small countries.
Teaming up with MYMEDIA offers the chance to build a community-driven rewards portal. In other words, members have a say in how they earn and spend points.
“The digital landscape of our own Social Media Platforms allows us to reach the generation of young millennials all over Myanmar. And with this new loyalty program we bring more value to our audience and help them benefit from our services,” says Mr. Rene Heumueller, Co-Founder of MYMEDIA Myanmar.
Their team knows the region, and they understand their followers’ online habits. In turn, RedFOX gains insight into how to create a rewards program in alignment with local market sentiment.
Champions of Facebook
Within Southeast Asia, it’s not uncommon for Internet newcomers to begin their online journey with Facebook. It’s typically the first app installed onto a new phone and encompasses searching, shopping and, of course, being social.
Some of SEA’s residents even forgo using Google, the world’s most popular search engine. Why? Because they rely on FB to feed them everything they hunt for online. And this deep connection to Facebook fuels MYMEDIA’s highly successful social marketing efforts.
Consisting of six distinct channels — food, health, media, sport, style, & tech — MYMEDIA captures 25M+ page impressions per month.
Not only is MYMEDIA’s overall social reach impressive, so is the speed at which it grows. The latest portfolio addition is the media channel, which soared to 1.5M followers in only a few short months.
MYMEDIA’s far-reaching social presence gives our rewards portal a springboard to an engaged audience. We’re leveraging the company’s market analytics to construct a program geared towards providing participants precisely what they want.
An Expanding Regional Footprint
Because of MYMEDIA’s stature as a reputable organization, they’ve made inroads into Myanmar’s online marketplaces. In other words, they’ve gained the trust of customers and merchants alike.
Moreover, Myanmar is only the source of roots expanding into neighboring kingdoms. An initial target is the Philippines, boasting one of the largest online populations in the area.
Yet another candidate for expansion is our home turf of Vietnam. A Vietnamese version of our rewards portal is a natural progression of our new partnership. After all, we live here! Plus, we chose this country as our headquarters because its residents are highly receptive to the blockchain ventures we’re creating within local territories.
Not all partnerships are created equal. Sometimes you go in cold and have to establish and nurture new relationships. It may take months or years before you get a solid grasp of what it’s like working with individuals and organizations.
But in this case, there’s a longstanding history. The previously mentioned Mr. Heumueller and RedFOX Labs’ CEO joined forces to help launch Ooredoo Myanmar, a telecommunications startup.
Recalling his time at Ooredoo and imagining what the future now holds, Ben had this to say:
“Working alongside Rene on the Ooredoo Myanmar startup gave me an appreciation for the people, the culture, and the huge technological advances on the horizon. Rene and I would often talk about the possibilities of doing something together at a later date. We’re all excited about bringing blockchain tech to the region and building upon the excellent work MYMEDIA’s already begun.”
The year 2019 marks an established business relationship spanning half a decade, which bodes well for an enduring partnership.
Building Southeast Asia’s largest rewards and loyalty platform is no easy task. From revenue models to rewards structures and marketplace merchants, we’ve plenty to accomplish.
Now, we’ve said this before, but it bears repeating here: if we capture only 10% of MYMEDIA’s social following, RedFOX Labs gains over 1,000,000 customers. As far as we know, there’s no other blockchain project eligible to make the same claim. Let us know down in the comments section if we’re wrong!
During a series of talks before making our new venture official, RFOX and MYMEDIA shared a mutual exuberance. Both parties are fully aware of our new rewards portal’s enormous potential. MYMEDIA brings the audience and market insight, while RedFOX Labs adds the strategy and tech to power the platform. Together, we’re creating a new blockchain venture designed to deliver value to millions of users throughout Myanmar and beyond.