What Is Redfox Labs (RFOX)?
RFOX is a metaverse ecosystem that aims to create opportunities for individuals through virtual environments that benefit everyone. The platform seeks to enable users to play, develop, and earn. It aspires to be the world's leading provider of interactive technology for retail, enjoyment, incentives, and community engagement.
Redfox addresses the issues that businesses face in trying to get more customers into the digital economy and inaccessible technology issues that keep the majority of people out. The solution is where businesses and creators can utilize this comprehensive platform to access banking, gaming, virtual reality (VR), NFTs, and retailing tools. Users can quickly join RFOX metaverse, be paid for their participation, and finally gain access to the digital market with minimal effort on their part. Virtual reality is referred to as a three-dimensional, computer-generated setting that a human can explore and interact with. RFOX token holders can use DeFi products to seek to gain largely untapped revenue streams through the platform.
The platform has multiple ventures like RFOX Vault, RFOX Games, and RFOX Media. RFOX Vault aims to be a truly immersive virtual reality shopping, retail, and recreational experience. It's a standalone metaverse that combines numerous gaming aspects. RFOX Games is a tournament-based game system that focuses on the play-to-earn (P2E) business model. RFOX Media aims to be an online media leader in creating solutions and networks that enable users to receive incentives for creating content, winning games, and contributing to the community.
According to its whitepaper, Redfox employs blockchain technology, artificial intelligence (AI), and virtual reality (VR) to enhance organizational performance. The RFOX token is an ERC20 utility token that enables the RFOX Vault and the entire ecosystem. RFOX token is used to compensate for trading fees, liquidity pools, transactions, and NFT formation. All ventures on the platform use the token as their primary currency. RFOX aims to handle multiple payment settlements across multiple chains owing to its single log-in system, additional payment provider, and wallet connections.
The RFOX token is accessible on Ethereum, Binance Smart Chain, and WAX, with more chain integrations planned in the near future.
History of Redfox Labs (RFOX)
The RFOX platform was founded in July 2018 with Ben Fairbank as its chief operating officer. Fairbank has over 20 years of international experience and has led economic expansion for companies such as Virgin, Ooredoo, and GRAB. As per the whitepaper, RFOX has a maximum total supply of 487 million.
