Since the dawn of digitization, the world has seen a burgeoning of new digital economies and alongside, new value creation. RedFOX Labs is a venture builder that identifies and builds successful business models in the new digital economies for Southeast Asian markets.
We speak to Ben Fairbank, CEO and Co-Founder, who gives more insight into how RedFOX Labs leverages emerging technologies to navigate these new digital frontiers.
Q. Please introduce yourself and what you do at RedFOX Labs.
Ben Fairbank, CEO and Co Founder, so I create the vision, develop the strategy and generally navigate a path through the waters.
Always start with the end in mind, lead from the front, and never ask anybody to do something you wouldn’t do yourself.
Q. Can you describe what RedFOX Labs is about?
RedFOX Labs is a tech forward venture builder that delivers companies and platforms that are secure, scalable, highly engaging and innovative. We believe in unlocking value for users within the new era of technology and believe in providing platforms that are easy to use, and inclusive.
Q. Tell us about some of your venture builds.
At RedFOX Labs, we have what we call a DBOT model. This is essentially ‘Design, Build, Operate and Transfer’. Currently we are very proud that we have launched two successful MVPs. The first one launched is the extremely popular KOGS game that players can collect limited edition NFTs, compete in slamming competitions, stake their KOGs in choobs and earn $RFOX tokens and in the very near future use their KOGs in other games being developed by the RFOX Games team. The concept of playing games to earn is a very important theme we intend to drive across the globe.
The second MVP we have recently launched is our very own DeFi staking, liquidity and rewards protocol RFOX.Finance. We are thrilled to have seen the immediate success and uptake of this platform with over USD 40 million TVL, high yields (APRs) of over 400% in the single staking pools. This also has set RFOX on a course overtaking USDT on the ETH > BSC bridge. The future DeFi utility will be developed over the course of the next few months and will act as the economic backbone to the metaverse we will be launching later this year.
Q. We’d love to know more about RFOX Finance which, we have heard, has also been launched on BSC recently.
Yes, we are confident about this offering as previously mentioned. The uptake has been very encouraging in trying market conditions. Essentially we have forked pancakeswap and it provides RedFOX Labs with a robust economic platform to launch many additional DeFi projects. We will also be assisting other projects in the staking and harvesting opportunities that can be paired against $RFOX, $VFOX and other tokens.
$VFOX is the rewards token of the ecosystem being built and holders will be entitled to various rewards based on the transaction volumes going through the metaverse, from land sales, rent and e-commerce sales.
Q. What do you see as some of the challenges your project and industry face?
Finding the right skill sets, blocking out the noise and building sustainable businesses. There is far too much attention being given to tokens that have zero utility or technology foundation. The average trader might not know the essential differences between meme coins and coins that are backed by credible projects that are building businesses with genuine revenue streams and audiences.
We are focused in our endeavours and with two successful MVPs, we know we are on the right path to building and unlocking value and helping to build the new digital economic future. We also feel our market is far too reactive and there are some growth areas that are much needed. This is however inevitable considering that we are only a decade or so old as an industry. This is part of the reason we find skill sets that come from more mature industries, who have built global organizations in their careers.
Q. Any other exciting news you’d like to share?
We are nearing the land sale in a few weeks’ time and have some extremely exciting marquee clients on board who are major international brands and personalities. We will be rolling out with a global campaign which leads up to the eventual launch of our truly unique metaverse which we are calling RFOX VALT.
More information on RedFOX Labs can be found here.