Southeast Asian Venture Builder RedFOX Labs Launches First SHOP Auction for 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 $280 billion by 2025, representing a growth of more than 600% from just $46 billion in 2020, according to Strategy Analytics Inc.
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 $52 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. Meanwhile, Facebook has been vocal about transitioning from a social media company to a metaverse one, and Epic Games has recently raised $1 billion while stating that its hit game Fortnite is a metaverse instead of a game.
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 $10 million investment vehicle, through his venture capital arm Galaxy Interactive.[
Janine Yorio, Co-President and Managing Director of Republic Realm, commented:
"There was such a groundswell of interest in digital real estate in the metaverse. We felt that creating an investment product that's fairly straightforward for individual investors to participate... would be something that would be met with a lot of positivity. We're starting to invest in the metaverse platforms themselves in some infrastructure, so we're just very enthusiastic about the metaverse space."
To participate in the first SHOP auction for the RFOX VALT Metaverse, please visit https://www.rfoxvalt.com
read full press release: https://www.prpocket.com/