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RFOX Media Introduces Play-to-Eat Gaming Model in Myanmar with New Mobile Game RFOX Run | by Bit Media Buzz | Sep, 2021

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MANILA, Philippines — RFOX Media, a subsidiary of Southeast Asia based RedFOX Labs, has launched RFOX Run, a new jump-and-run casual game in Myanmar, powered by prolific tournament game platform Goama. RFOX Run introduces a new gaming rewards model called Play-to-Eat, an innovation of the increasingly popular Play-to-Earn model, where players that are identified as winners and have signed up for an RFOX ID can redeem food vouchers from foodpanda, the leading food delivery service in Myanmar.

At RedFOX Labs, we believe that blockchain companies have a responsibility to explore humanitarian approaches to the innovations they produce. Through our Play-to-Eat model, we believe that RFOX Run users will gain the dual benefits of food rewards and blockchain education, providing them with both immediate- and long-term solutions.

The top RFOX Run players can claim their prizes through the RFOX Media website by registering for an RFOX ID. Winners will receive foodpanda vouchers redeemable with a unique voucher ID, and get their choice of food delivered to their doorstep. To kickstart the campaign, RFOX Media has allocated $22,000 worth of vouchers as rewards.

The global play-to-earn market, mainly driven by blockchain-based companies, has experienced exponential growth this year, with a total market capitalization of $9.21 billion and average year-to-date growth rates of 1,604.12%, according to analysis from CoinMarketCap data on 36 identified play-to-earn companies. From a larger perspective, the video game industry is currently valued at around $170 billion and is expected to grow to $268 billion after five years, according to CoinTelegraph.

In this context, RFOX Media can become a crucial participant in the high-growth play-to-earn market through RFOX Run. Its unique approach to encourage further adoption through play-to-eat and other models reflects RedFOX Labs’ endeavors in empowering blockchain-related growth in Southeast Asia. RedFOX Labs also operates RedFOX Games, which currently runs the KOGs Slam! NFT game on closed beta testing, with more products about to launch.

Earlier this month, RFOX Media and Goama entered a partnership for the launch of RFOX Run in Myanmar, with plans to extend the relationship across the Southeast Asia region. This collaboration brings together an audience of more than 20 million Southeast Asian residents and aims at serving the largely untapped gaming market in Myanmar.

Ben Fairbank, CEO, and Co-founder of RedFOX Labs commented:

“Just weeks after we revealed the partnership between RFOX Media and Goama, I’m happy to see that it has delivered innovative results through the new RFOX Run game and the first-of-its-kind Play-to-Eat model in Myanmar. The Myanmar market is still so young, with a lot of potential, and through this collaboration we have quickly launched a new casual game that has an added benefit of rewarding top players with food. We look forward to serving millions in Myanmar with innovative gaming solutions like this, among other things we are planning to launch in the future for the country.”

Wayne Kennedy, CPO and Co-founder of Goama said:

“We at Goama are very thrilled to work with RedFOX Labs to be the first ones to bring both NFTs and tournament prizes to Myanmar! This furthers our ambition of bringing a casual eSports platform to leading apps throughout Southeast Asia. We’re also very happy to have created RFOX Run, where users can compete for the top spot and at the same time be compensated with food vouchers!”

About RedFOX Labs

RedFOX Labs is a Southeast Asian venture builder that identifies and builds successful business models for the region’s emerging markets. It is focused on unlocking the true market value of the Southeast Asian digital economy for high consumer demand services such as e-commerce, e-media, e-travel, and esports/gaming and focuses on adding value to the digital economy using emerging technologies such as blockchain. As a company, its value is tradable through its native token ($RFOX).

RedFOX Labs Official Channels:

Buy RFOX: https://www.redfoxlabs.io/rfox

Website: https://www.redfoxlabs.io/rfox

Facebook: https://www.facebook.com/redfoxlabs.io

Twitter: https://twitter.com/redfoxlabs_io

YouTube: https://www.youtube.com/channel/UCjSvr6RFSMlN00mWRiU0mSQ

RFOX Games Twitter: https://twitter.com/RFOX_GAMES

KOGS Twitter: https://twitter.com/KOGS_GG

KOGS Facebook: https://www.facebook.com/kogs.gg/

KOGS Discord: https://discord.gg/5kNdg7U9bU

About foodpanda

foodpanda is a leading delivery platform in Asia dedicated to bringing consumers a wide range of food, groceries and more, quickly and conveniently. Powered by technology and operational excellence, foodpanda is spearheading the growth of quick-commerce (q-commerce) across the region with its network of retail partners, as well as pandamart cloud stores to provide more on-demand options beyond the millions of food delivery options. foodpanda operates in more than 400 cities across 12 markets in Asia — Singapore, Hong Kong, Thailand, Malaysia, Pakistan, Taiwan, Philippines, Bangladesh, Laos, Cambodia, Myanmar, and Japan. foodpanda is a subsidiary of Delivery Hero, a global leader of the food delivery industry. www.foodpanda.com

About Goama

Goama is a leader in platform gamification, setting the benchmark in digital innovation and user engagement, working with some of the world’s biggest superapps and brands. Its turnkey solution offers a plug and play platform that creates unique gamified experiences that empower its business partners to build engaged communities. Goama has partnerships with the leading apps across 24+ countries to help them drive user engagement, increase monetization opportunities, and acquire new users. https://goama.com

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September 22, 2021
Ethereum Topside Bias Vulnerable If It Struggles Below $3K
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Ethereum settled below the $3,000 support zone against the US Dollar. ETH price could resume its decline unless there is a clear break above the $3,000 resistance zone.
- Ethereum started a fresh decline below the $3,100 and $3,000 support levels.
- The price is now trading below $3,000 and the 100 hourly simple moving average.
- There is a major bearish trend line forming with resistance near $3,000 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could resume its decline unless there is a clear break above the $3,000 resistance zone.
Ethereum Price Remains At Risk

Ethereum started another decline from the $3,100 resistance zone. ETH traded below many important support zones near $3,000 and the 100 hourly simple moving average, similar to bitcoin.

The price even broke the $2,800 support level to move further into a bearish zone. A low is formed near $2,651 and the price is now correcting losses. There was a break above the $2,800 and $2,850 resistance levels.

The price recovered above the 23.6% Fib retracement level of the recent drop from the $3,105 swing high to $2,651 low. An immediate resistance on the upside is near the $2,880 level. There is also a major bearish trend line forming with resistance near $3,000 on the hourly chart of ETH/USD.
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Source: ETHUSD on TradingView.com
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The trend line is close to the 50% Fib retracement level of the recent drop from the $3,105 swing high to $2,651 low. A close above the $3,000 resistance could start a decent recovery. The next major resistance might be near the $3,105 level. A clear break and close above the $3,105 level could start a steady increase. The next major resistance sits near $3,135 and the 100 hourly SMA.

More Losses in ETH?

If ethereum fails to correct higher above the $2,880 and $3,000 resistance levels, it could start another decline. An initial support on the downside is near the $2,800 level.

The next major support seems to be forming near the $2,650 level. A downside break below the $2,650 support zone could lead the price towards the $2,550 zone. The next major support is near the $2,500 level, below which ether price might decline towards the $2,420 support zone.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.

Hourly RSI – The RSI for ETH/USD is still below the 50 level.

Major Support Level – $2,650

Major Resistance Level – $3,000
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September 22, 2021
Ethereum’s spot setup looks grim, but derivatives data tells a different story
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Ether (ETH) price fell below the $3,000 support on Sept. 20 as global markets entered a risk-aversion mode. The Invesco China Technology ETF (CQQQ) closed down 4.2%, while the SPDR S&P Metals and Mining ETF (XME) lost 3.8%.

Some analysts pointed to the potential ripple effects of the default of Evergrande, a major Chinese real estate company. In contrast, others blame the ongoing debates over the debt limit in Washington as the catalyst for this week’s volatility. As a result, the CBOE Volatility Index (VIX), usually referred to as the “stock market fear index,” jumped by more than 30% to reach its highest level since May.

On Sept.19, U.S. Treasury Secretary Janet Yellen called for Congress to raise the U.S. debt ceiling again in a Wall Street Journal op-ed. Yellen suggested that avoiding this would risk causing the government to default on payments and generate a “widespread economic catastrophe.”

One of the major focuses for traditional markets is this week’s U.S. Federal Open Market Committee meeting, which ends on Sept. 22. At the meeting, the Federal Reserve is expected to signal when it will cut back its $120 billion monthly asset purchase program.

How these events impact Ether price

Ether price in USD at Bitstamp. Source: TradingView

Even though the $3,000 level sits near the bottom range of the previous performance of the past 45 days, Ether still accumulated 210% gains in 2021. The network’s adjusted total value locked (TVL) jumped from $13 billion in 2020 to $60 billion and the decentralized finance (DeFi), gaming, and nonfungible token (NFT) sectors experienced an impressive surge while Ethereum maintained dominance of the sector’s market share.

Despite mean gas fees surpassing $20 in September, Ethereum has kept roughly 60% of the decentralized exchange (DEX) volume. Its largest competitor, Binance Smart Chain, held an average daily volume slightly below $1 billion, albeit having a transaction fee below $0.40.

Ether futures data shows pro traders are still bullish

Ether’s quarterly futures are the preferred instruments of whales and arbitrage desks due to their settlement date and the price difference from spot markets. However, the contract’s biggest advantage is the lack of a fluctuating funding rate.

These fixed-month contracts usually trade at a slight premium to spot markets, indicating that sellers request more money to withhold settlement longer. Therefore, futures should trade at a 5% to 15% annualized premium in healthy markets. This situation is technically defined as “contango” and is not exclusive to crypto markets.

ETH futures 3-month annualized premium. Source: Laevitas

As displayed above, Ether’s futures contracts premium spiked to 15% on Sept. 6 as ETH price tested the $4,000 resistance. Apart from that brief overshot, the basis indicator ranged from 8% to 12% over the past month, considered healthy and bullish.

The crash to sub-$3,000 in the early hours of Sept. 21 was not enough to scare seasoned traders. More importantly, U.S. Securities and Exchange Commission chairman Gary Gensler’s interview on cryptocurrency regulation also had no noticeable impact on Ether price. Had there been a generalized fear, Ether futures premium would have reflected this.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.