Land in the RFOX VALT metaverse is a preciously rare commodity. After all, they sell them 25 pieces at a time, with 36-hour auctions spaced a few months apart.
So far, half of the publicly available land inside the VALT resides in Ethereum wallets as NFTs. That means you can buy them on OpenSea if you missed out on one of the first two auctions.
Live auctions for the video game-themed Arkamoto Quarter were an exhilarating spectacle. Just when you thought a bid was decided and there’s no way the on-chain transaction would clear in time, a sniper prevailed.
I did some bidding of my own but never came close to winning any of them. I guess I hadn’t jacked the $ETH gas fees high enough. One bid was the exact amount I had put in, auto-populated by the auction platform, but my transaction failed. Close but no SHOP for me.
Nevertheless, team RFOX, which recently went through a rebranding and is now formerly known as RedFOX Labs, hauled in another cool $1.2M US to build out the VALT’s metaverse environments.
But RFOX isn’t one to hoard profits. As exemplified by the 5M $RFOX KOGs NFT staking program, RFOX ventures tend to design methods for rewarding the community.
Here’s what’s in store for all that new $ETH team RFOX is holding:
- Holders of $VFOX tokens are in for another round of staking rewards on RFOX Finance
- Over 860k $RFOX will go into a blackhole wallet that doesn’t allow for withdrawals
- Overall, 45% of the collected $ETH is being used to market-buy $RFOX tokens for various initiatives
If we knew when those buybacks will occur we could make a tidy profit. Therefore, there will be no announcements until after the fact.
But no matter your timing, the $RFOX price is bound to temporarily rise once all that $ETH converts to $RFOX. So if you’re holding some already there’s nothing left to do but have some patience.
The metaverse as we know it is still in its infancy. It’s now up to RFOX and other metaverse builders to create environments that keep us entertained while enriching our lives.
A monumental task, no doubt. But given its track record, I’m confident in RFOX’s ability to do a bang-up job.