Southeast Asian Venture Builder RedFOX Labs Launches First SHOP AuctionPosted by Dinesh Kumar on September 20th, 2021 Ho Chi Minh City, Vietnam, Sep 20, 2021 -- Southeast Asian based RedFOX Labs has launched its first auction of SHOPs for the RFOX VALT metaverse, beginning on September 14, 2021, at 4:00 PM GMT+7, and lasting for 72 hours. The SHOPs being made available for bidding are in the Callinova art-themed quarter of the RFOX VALT metaverse. RFOX VALT is a fully immersive shopping experience compatible with virtual reality. Combining gaming elements, RFOX VALT forms its own standalone metaverse experience. It brings together the best in class of crypto through NFTs and real-world applications of e-commerce, gaming, and entertainment. All SHOP, assets and billboards are NFTs and create unique opportunities for people to earn, interact and create. The debut SHOP auction for the RFOX VALT Metaverse is a significant part of a larger metaverse movement within the crypto space and beyond. The global metaverse market is expected to reach 0 billion by 2025, representing a growth of more than 600% from just billion in 2020, according to Strategy Analytics Inc.[1] Major tech and gaming companies around the world are joining the metaverse market, like gaming platform Roblox, which went public this year and had a market cap of billion as of June 2021, and WeChat, which has already been called a 2D Metaverse where customers can do practically anything, from socializing and shopping to paying for things in the real world and communicating for work.[2] Meanwhile, Facebook has been vocal about transitioning from a social media company to a metaverse one, and Epic Games has recently raised billion while stating that its hit game Fortnite is a metaverse instead of a game.[3] This interest in the metaverse has also manifested in many institutional and individual instances. Billionaire crypto investor Mike Novogratz of Galaxy Digital recently took a lead investor role in virtual real estate developer Republic Realm, particularly its million investment vehicle, through his venture capital arm Galaxy Interactive.[4] Janine Yorio, Co-President and Managing Director of Republic Realm, commented:[5] With the RFOX VALT SHOP auction, Red Fox is giving individual investors a significant voice in dictating the future of the retail metaverse they are building. Investors can own a virtual SHOP in RFOX VALT by participating in auctions that will be held for these assets. An RFOX VALT SHOP can unlock unlimited opportunities within one of the 120 SHOPS that make up the RFOX VALT. For the first auction, RFOX VALT is offering 25 SHOPs in the arts themed Callinova quarter through the Ethereum network. The Callinova quarter got its name from a combination of “Calli,” which represents calligraphy and is also inspired by the Jupiter moon Callisto, and “Nova,” after the supernova. The new name represents an artistic explosion of brightness, which RedFOX aims to achieve for this quarter. To participate in the first SHOP auction for the RFOX VALT Metaverse, please visit https://www.rfoxvalt.com Like it? Share it!More by this author |