Today, metaverse builder RFOX announced the launch of the newest quarter of its upcoming RFOX VALT metaverse: Arkamoto, a gaming-inspired virtual space that is also open to all businesses. To spearhead this launch, RFOX VALT has set the auction of 25 premium SHOPs in Arkamoto on December 9, 2021.
The RFOX VALT is a fully immersive, virtual reality-driven retail and entertainment experience in the metaverse that combines gaming elements, bringing together the best-in-class of crypto through NFTs and real-world applications of e-commerce, gaming, entertainment, and more.
RFOX formally unveiled the RFOX VALT in September 2021, when it launched the RFOX VALT SHOP Auction in the metaverse’s arts-inspired quarter, Callinova. During this auction, all 25 SHOPs, or virtual spaces dedicated to metaverse-based shops for various businesses, were sold for a total of 29,503,803 RFOX, which was worth USD 1.4 million at the time.
Arkamoto, the newly-introduced gaming quarter of the RFOX VALT, is named after the combination of the words “arcade,” in reference to popular gaming machines in public venues, and “Nakamoto,” after Satoshi Nakamoto, the pseudonym of the creator or creators of Bitcoin, the first and biggest cryptocurrency. Aside from the SHOPs available for auction, Arkamoto will have several areas dedicated to gaming and live e-sports tournaments in the RFOX VALT metaverse.
During the upcoming SHOP auction for the RFOX VALT’s gaming quarter, a total of 25 SHOPs will be available for sale to interested parties. Auction winners will get their SHOPs in the form of NFTs, which will give them access to tools for customizing their 3D SHOPs with different interior designs and textures, as well as managing their NFT assets on sale. In the future, they will also be provided a hosted white-label storefront website with an integrated NFT marketplace and NFT creation tools.
For this round, SHOPs will be available for sale in exchange for ETH, which will be used as the cryptocurrency of choice for the auction. RFOX intends to use the ETH collected from the auction to buy back RFOX from the market. The shift from the use of RFOX during the previous auction to the use of ETH for the upcoming sale is a strategic move to enhance the tokenomics of the RFOX token through ETH-fueled buybacks of RFOX. In addition, RFOX can more easily spread awareness of the RFOX ecosystem to the wider crypto and blockchain community, while facilitating a more convenient onboarding process to the RFOX VALT.
In the days leading up to the auction on December 9, RFOX will unveil more details about Arkamoto, including additional details of the SHOP sale, use cases for the quarter, and more. These upcoming updates are geared towards giving auction participants and the general public a more comprehensive picture of the prospective value and utility of the gaming quarter.
The upcoming RFOX VALT metaverse is supported by the RFOX ecosystem of products and services that provide enhancements and support to the metaverse that RFOX is building. The RFOX ecosystem includes gaming and NFT generation platforms powered by RFOX Games and RFOX NFTs, crypto financial instruments such as staking and liquidity pools created by RFOX Finance, and potent online media and marketing support from RFOX Media.
Ben Fairbank, CEO and Co-Founder of RFOX, said: “The world is increasingly becoming more aware of the metaverse and its promise as the logical evolution of the Internet. We are excited to welcome the newest participants of the metaverse through our SHOP auction for the Arkamoto gaming-inspired quarter of the RFOX VALT. Together, we will be the pioneers that will have a key advantage as the world capitalizes on metaverse technology in the coming years.”
Since the inaugural RFOX VALT SHOP auction in September, public awareness of the metaverse has significantly increased. Thus far, RFOX has partnered with major blockchain companies Yield Guild Games and ICON Foundation for the RFOX VALT, and these partners will prominently use the RFOX VALT metaverse to showcase their latest offerings and engage with their respective communities in a fully immersive way. Ultimately, the RFOX VALT will be an open-platform, inter-operable metaverse that interconnects with and supports various blockchains, enabling the exhibit of NFTs from different platforms and implementation of several features running on smart contracts and other programs inherent in these networks.
RFOX VALT is a fully immersive shopping, retail, and entertainment experience in virtual reality, combining gaming elements and forming its own standalone metaverse. It brings together the best in class of crypto through NFTs and real-world applications of ecommerce, gaming, and entertainment.
RFOX is a metaverse builder based in Southeast Asia, with a mission to be the global leader in immersive metaverse experiences focused on retail, media, gaming, and rewards, through the RFOX VALT metaverse. The company has built the RFOX ecosystem of products and solutions that include online games, whitelabel NFT platforms, crypto-financial products, digital media platforms, and more. Its main token is RFOX, the digital asset that fuels the RFOX metaverse ecosystem and its immersive technology.
RFOX Media has combined forces with, Goama, to address their combined audience of more than 20 million Southeast Asian residents and to go after the largely untapped gaming market in Myanmar.
RFOX NFTs was created in 2021 as an end-to-end whitelabel creation, website, marketplace, and shared liquidity pool platform that allows businesses to simply create NFTs without significant technical understanding.
An NFT stands for a Non-Fungible Token. And its meaning will be broken down here.