The investment by Galaxy Digital in the Vietnam based Venture builder is great news.
It shows another massive vote of confidence in RedFox, who have passed due diligence by Coinsilium, Galaxy Digital, and several others we're sure to discover. Galaxy Digital and Mike Novogratz are big names and this helps put RedFox on the radar.
It is important to know that know Redfox has turned down VC money before in the past because it would have harmed their vision so this is a good sign that there was a mutual understanding from both companies.
https://twitter.com/redfoxlabs_io/status/1337330116628647936?s=20
- redfoxlabs_io
https://www.redfoxlabs.io/vietnam-venture-builder-redfox-labs-gains-investor-ahead-of-game-release
Galaxy Digital:
Principal Investments focuses on providing strategic, long-term capital to industry-leading businesses throughout our ecosystem. Our mission is to stand behind companies that we believe will be successful in helping to accelerate and promote the institutional adoption of blockchain technology and digital assets.
Our team has extensive experience investing across the capital structure, including large and small-cap cryptocurrencies, illiquid ICO/Pre-ICO contributions, early- and later-stage venture capital, growth equity, private equity, and all forms of secured, unsecured, and structured lending.
The thing the company is known for most is the release of KOGS the "keys to other games" on the WAX chain with 2nd version being released soon.
But they are building out an ecosystem that will be self-sustaining and spinning off their gaming division is one first part of this.
The next venture that is a possible release for Q1 2021 is an e-commerce live streaming app. This is not big in the West but is a huge market in the East especially in China and is growing in the rest.
It went from 0 - 63 Billion since 2016 and is growing by 20% per year.
With e-commerce doubling YOY, RedFOX Labs has the opportunity to compete against local giants such as Lazada, Shopee, and Zilingo by leveraging blockchain technology to process faster, cheaper transactions and provide easier market entry points for the under-served. Its focus is to unlock the true market potential of the digital economy for high consumer demand services such as e-commerce, e-media, e-travel, and esports/gaming.
In the Telegram group a member asked what the process was like to get a group like galaxy digital on board and this was the answer from Benny (redfox CEO)
Yes, I had to go through a pretty exhaustive DD process and answer some tough questions and really go through what we are doing in all of the businesses. They are most bullish on the e-commerce streaming app. Im not allowed to speak about the investment due to the contract, but yes, its fair to say they benefit in many of the same ways you would. Thanks we believe the investment is a sign of our company maturing. They approached us too which is the satisfying part and there were no other parties which I am told is also rare.
That alone for me is a really bullish sign what the token is concerned
If you want to grab some and hodl then you can do so here in the UNISWAP pair. The token has over 1 million in liquidity which is not bad for a project that has a 30 million marketcap.
https://info.uniswap.org/pair/0x4214290310264a27b0ba8cff02b4c592d0234aa1
Good luck with your own research...
I just wanted to share a bit of mine and I declare that I do hold RFOX in my portfolio as a long term hold.
