Who are the key players in the NFT space? A take on RFOX ventures
NFT’s, which is the acronym for Non Fungible Tokens, have been the craze of the last month. The reasons are various, but the main one remains to be the rise of cryptocurrencies popularity and price. Now that that crypto has passed the casp from being owned by innovators and tech-savvy insiders, to more mainstream large-scale companies such as Microstrategy, Square and most notably Tesla, the world at large has had a
But who are the main players in this space, and how would their strategy drive adoption further as the early majority flocks to this new opportunity?
The team behind the infamous crypto kitties and NBA’s tops shot were first to show the potential of NFT and their potential to the wide market. When one of their kitties went for as much as 600 ETH (around $390.000) and they closed a contract with the NBA to create basketball players digital collectibles on the blockchain, everyone understood that this wasn’t all fun and games, but a new opportunity emerged that might change the way we own digital assets on the internet for good. As a matter of fact, Dabber Labs has since raised a series A investment round from Universal Music of $11 Millions to expand their technology into, among others, music’s fan engagement, by building a new platform called Flow.
Nifty Gateway started riding the NFT collectibles wave in the digital art space for quite sometimes now. Together with Rarible and Opensea they own the biggest market share in this market. Since the artist Beeple (Mike Winkelmann) broke the record of digital sales at a whopping 3,5 Million with his “every day” piece, things got really hectic in the digital art space and growth has sky-rocketed for this platforms.
Decentraland is the first ever fully decentralized virtual-world space with DAO (Decentralized Autonomous Organisation) net. At its core, it gives its users voting power and freedom as to how to create and shape the virtual landscapes, scenes and avatars. Decentraland is part of an ever growing market, which, like the most famous Fortinite and the likes, is capitalising on the opportunity of giving gamers a platform to create, own and customise their virtual personas in the meta-space. Harnessing the power of blockchain, these new DeFi platforms enjoy the value proposition of ownership, scarcity, immutability and interoperability. As the world increases its digital adoption and more of our lives tend to be lived online rather than offline, the rise of “the Sims-like” metaverses with your own avatar, land and life, increases. Once VR sets prices drop and the computable power of gaming architecture companies such as Unity grows, it’s likely we will have entire portions of our lives in a digital world.
With the growing rise of community-driven and user-centric creative platforms, Zora gives the ability for any creative — from fashion, to music — to sell their goods to their niche as if they’re stocks. Fundamentally, the price of a good rises or drops as more people buy or sell “shares” of it. It’s a spin on the bidding tokenomics that is generally used. The leverage rests in the power, or better, the demand of a certain community to want a certain piece and the scarcity of that good. Once a price is set by a general consensus, the token owners can redeem the good and destroy the token in the process. This is a technique
Enter RFOX Ventures:
RFOX Ventures has prided itself at being the leader in the south-east Asia region, with a big first move advantage in a rising economy that is likely to be disrupted with digital wallets and digital currency as their population is largely unbanked. As of writing RFOX Labs’s coin sits at a whopping $186,089,409 market cap, trading at $0,14. With an increase in demand of both gaming and NFT projects, the natural increase for this type of ventures seems a no-brainer. The attraction for Roblox-like platforms has been at an all time high, specifically as the anticipation of Roblox IPO is imminent. Their Kogs gaming collectibles arm has a fantastic feature that incentivises staking. The more Kogs you own, the more games of KOGS you can play.