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Is RFOX a good investment? What is the RFOX Token?
About a week ago I posted about a new investment I made in the RFOX token from RedFOX Labs. I thought RFOX was a good investment.
I am unsure how many of you checked out RFOX or bought the token after reading my post. I sometimes get emails and comments on certain posts and other times I do not. Looking at the analytics though, I do know that a number of you read the post.
Well, If you did your DD and bought some RFOX tokens then congratulations! Because you are up over 300% now on your investment.
Investments don’t always work out this way, or this fast. But sometimes they do. RFOX is trading at almost 18 cents now. As you might recall it was between 02 and 03 cents a week or so ago.
I definitely thought RFOX offered some promise but it exploded even faster than I expected. But hey, I am not complaining. So let’s delve into why RFOX is trading so well right now.
Much of that seems to be driven by some of the NFT frenzy. As you may know, Coin Market Cap breaks out tokens by type, like DeFI, and NFT.
RedFOX is currently number 5 in the NFT token list. I think that some people are stumbling across the token looking for NFT trades, and that helped to drive up its value. NFT is really hot right now. I will write up a separate NFT post, but you should definitely familiarize yourself with it.
As I mentioned before, there are a number of reasons I got in on the RFOX token and RedFOX Labs project. The fact that it is involved in DeFI and NFT, was just part of the reason. They have a solid footing in the Southeast Asian market, and working projects have already been launched.
Another reason RFOX popped to the current price level, is this piece of news that RedFOX Labs just released.
HO CHI MINH, Vietnam, Feb. 17, 2021, From PRNewswire. — Vietnam based RedFOX Labs Joint Stock Company, (‘RedFOX,’) has made its first significant investment as a venture builder with its acquisition of MYMEDIA Digital.
MYMEDIA Digital is Myanmar’s largest digital marketing platform that connects consumers directly to brands and influencers across food, fashion, sport and entertainment. It is one of the most heavily visited platforms in the country.
Its advertisers include global brands such as Samsung, Huawei, Nestle, Lenovo, Grab, Realme, VIVO and GrandRoyal, who market directly to the 35 million users engaging in the platform per month.
Click on the press release link above to read the entire article.
I am still holding my RFOX investment for now. However, I might sell some off slowly as the price goes higher. I believe that I will hold a portion though as a longer play to see how RFOX labs grows, as I think there is more upside here.
So it appears RedFOX Labs is making moves. Galaxy Digital has invested in them, giving them credibility. While the RFOX token is already up 300% from a week ago it could still be a good project to check out and consider.
As always, do your own research. This is not professional advice, just my thoughts and opinions.
Also published on Medium.