RedFOX Labs, a blockchain-based gaming company out of Vietnam, has announced a streaming platform that will provide new ways of monetizing adverts via NFT purchases.
Unlike traditional streaming platforms which have annoying pop-up ads that interrupt viewing, the RedFOX platform can overlay the stream with ads and interactive buttons. This allows advertisers to offer users a convenient and non-intrusive one-click way to collect NFTs as a purchase or prize.
Virtual space within the stream such as billboards or bus stops can also be integrated with a marketer’s virtual interactive ad. This offers a way to grow brand awareness and provide users with a way to spend $RFOX tokens in-game.
RedFOX founder Ben Fairbank believes the new platform delivers a unique way to make these NFTs “different from the current collectibles in the marketplace.” In an official press release, he goes on to speak about how the NFT space is evolving rapidly, with new means of ownership transfer being discussed.
“With recent attention from leading investors, Mike Novogratz, Gary Vaynerchuk and Mark Cuban, we know beyond a doubt that NFTs have a bright future in decentralized finance,” he said.
In the future, it’s possible that NFT holders can gather new NFT tokens within their existing tokens using the Ethereum ERC-1155 protocol. This will even provide a method of operating an entire virtual shop to sell NFT merchandise or the underlying IP addresses connected with them.
RFOX Games, a subsidiary of RedFOX Labs, recently announced a closed beta version of its popular NFT game KOGs: SLAM! – based on the old 90’s collectible game POGS. KOGs are already the number one selling NFT on the Worldwide Asset eXchange™ (WAX) platform.
To help head up the release, RedFOX recently hired a new Head of Business Development, Philip Cahiwat, previous co-founder of LevelUp! Games – one of the largest online game publishers in the Philippines and Brazil.
The RedFOX Labs token RFOX has seen some impressive gains lately on the news, growing by over 100% in the past month. After reaching a new high of $0.17 in February, RFOX traded horizontally until mid-March when it exploded to a new all-time high of $0.33 on March 27, 2021.
The exciting new project now holds a market cap of $362.8 million with a 24-hour trading volume of $2.8 million. DeFi exchange Uniswap (v2) is one of the most popular places for trading the RFOX/ETH trading pair, holding on average $35,000 of depth with $858,000 daily volume.