2019 was equally rewarding and challenging. After assembling our team, we began designing and building out what will be the future for RedFOX Labs. Like any startup, we faced our fair share of tests.
We failed in the choice we made in one of our partners and were reliant on a deal that didn’t eventuate. Good businesses learn. They grow. And they don’t seek to blame outside forces or influences. We control our future — and 2020 looks exceptionally bright.
2019 was a formative year, where days melded into weeks and weeks into months. Having a team of 10 spread across the globe meant something was happening at any given moment. The vision we chose was always going to be an ambitious one, and we wouldn’t have it any other way.
However, thanks to the fantastic team at Komodo, we’re blessed to have incredible technology with which to work. We were fortunate enough to have CA333 provide us with a beautiful wallet that leverages the Komodo technology. And, we’ve had constant support and guidance with the build-out for our other soon to be released products. A huge thank you to JL777, who is instrumental in what we have and will achieve through his creative brilliance.
We’ve now partnered with MYMEDIA MYANMAR, with whom we’ll co-launch our Cashback and Rewards App. In addition, Misfit Technologies is providing us with AI chatbots and other emerging technologies. We now move into 2020 as a well rounded, more polished company utilizing emerging technology to build ventures.
What we’ve learned along the way
Things haven’t always gone to plan, as they rarely do. We learned the hard way the importance of choosing the right partners, and we’re now working through a resolution for this.
Regulations for exchanges and listings shifted, causing us to reconsider our options. Plus, a deal we had for funding didn’t eventuate. We see these as tests of our model, our structure, and our belief. We control what we build and what we become, so we always pursue other avenues. Our end goal is clearly defined, so how we get there will always be open for discussion and subject to pivots and changes.
We now focus on delivering our new products and helping these projects get adequate funding to be successful. Our partners, our network, and our team will ensure the future is bright as we now enter our equity raise round.
A new look & roadmap
We look forward to a brand refresh to better describe our move towards being an emerging technology venture builder as well as our strong focus on Digital Inclusion.
Along with updated messaging and language, we’ll also release a top-level roadmap highlighting the projects we are working on along with their delivery dates.
What’s next for RedFOX Labs
We have had some tremendous wins this year, and our team has been amazing. Despite the busy schedules and immense workloads, we’ve been able to achieve a lot.
We can’t wait to release this to the world. The first NFT blockchain game to have the entire game logic on-chain. This feat wouldn’t be possible on other blockchains, so this is as much a Proof of Technology as it is a game release.
The game has collectible pieces that can be stored, traded, and used for gameplay. The game’s initial design had the backend in mind and, once ready for testing, saw integration with the actual game.
With our artists madly finishing the collectible pieces and our devs working on polishing the final product, we anticipate a release very shortly. Make sure you don’t miss out on your chance to secure 1st Edition pieces in what will be blockchain history.
Cashback and Rewards App
This app is our first real step to promoting and advocating digital inclusion. We’ll soon release an application into the Myanmar market, allowing users to claim rewards every time they spend or shop at selected stores. Users also gain rewards for completing surveys, providing product reviews, watching videos, and playing games.
Our partners — MYMEDIA MYANMAR — are one of the country’s leading content and marketing platforms with over 11 million fans and a highly engaged audience. This product is a perfect fit to reward these users for doing what they are currently doing for free. The product will be enhanced and made even more scalable by the implementation of the alice.ai chatbot, providing 24/7 support and assistance.
The app will scale into neighboring Philippines and Vietnam in the months to follow. Stay tuned for demos and your chance to test the app before its release in Q1 2020.
2020 Airdrop to RFOX Holders
With the narrative surrounding 2020 as the ‘year of staking,’ we believe our airdrop to holders will be well received. The airdrops — spanning 10 months — will see 28% of the total supply shared among RFOX holders.
Each monthly airdrop of 28,000,000 RFOX will be divided among RFOX token holders, based on how much of the circulating supply an individual holds at the time of the snapshot.
The circulating supply will increase month by month as RFOX is unlocked and released into the market. Therefore, every month, 28,000,000 will be divided by a higher circulating supply than the previous month.
There is no minimum and no limit to how many you can hold at the time of the snapshot. Although the exact snapshot date is still TBD, the airdrop begins in March 2020.
We remain focused on the same industry sectors, which are e-commerce, e-travel, e-media, and ride-hailing/logistics. We’ll update these plans in the forthcoming roadmap.
We’re required to carry out a hard fork before launching the game and the cashback app, to ensure we have all the latest technology offerings currently available on the Komodo platform. We’ll keep you informed of what this entails, along with pertinent dates.
RFOX Adoption & Liquidity
The situation with centralized exchanges has become increasingly difficult. With the changes to legislation, China imposing bans on listing new coins, and general uncertainty, we see a pronounced shift toward decentralized exchanges.
We’re also seeing numerous reports stating that most of the volumes on these exchanges are not real. Therefore, at this time, we think funding should go towards getting adoption, which brings liquidity naturally.
The upcoming release of our game, coupled with the cashback and rewards app, will see increased demand and usage of the RFOX coin. Bringing on users and revenue streams is the fastest way to adoption, and provides an actual use case for the coin that goes well beyond exchange listings.
We firmly believe that if we’re to truly reach the goal of mass adoption, we should pool our resources and work together. There are a number of amazing people working on groundbreaking, open-source technology in the blockchain space, and also outside of it.
There’s only so much we can achieve on our own. Therefore, we’re always looking to partner with like-minded companies who share our passion and can help us reach our goals faster. If you are working for or know a company that may be a good match for us, please make sure you put them in touch with us.
Our 2020 roadmap is coming soon. Inside, we’ll reveal RedFOX Labs’ plans for using emerging tech to facilitate digital inclusion throughout SEA.