Q&A — Ben Fairbank, co-founder & CEO RedFOX Labs.
Today I’m sharing a Q&A with Ben Fairbank, the co-founder & CEO of RedFOX Lab. They’re a blockchain company positioning themselves as a “Venture Builder”, their main focus lays on Southeast Asia to build out and incubate market leading business models in this massive emerging market.
RedFOX Labs is being built on Komodo and has a team-member who know their way around in the so-called “world of crypto”. As I participated in their pre-sale I am excited to see that besides their upcoming IEO, they’re also making huge progress in locking in other exchange listings right after their IEO ends.
Make sure to check their website & follow their social channels:
Without further ado, let’s start!
“Good day Ben! For some you have a familiar face, where can people know you from?”
Yes, I'm a global C level executive and have worked for multi-nationals such as Grab, Virgin, and Ooredoo. I have an active social media presence and I am also known for being the GM of Komodo Platform. Being involved in Komodo has lead to this point today.
We decided to help accelerate mass adoption of Komodo by starting a blockchain venture builder that would build companies that showcase the amazing tech Komodo has to offer.
“So what is RedFOX Labs all about?”
RedFOX Labs is a blockchain venture builder. It replicates unicorn business models from countries such as China and the USA and introduces them to the emerging markets where they either lack presence or are in huge demand. We follow a very strict process.
- We use a 9 point ‘funnel system’ to assess a business models viability.
- We then come up with the idea — The innovation phase
- We then fund the idea to be built out and help with the process — The incubation phase
- We then work with the team on how we further enhance the model with blockchain and hand the business over to the team we have hired — The integration phase
- We remain equity holders and board members of the companies until such time as we exit.
“RedFOX’s foundation is built on the Komodo Platform, what makes their blockchain technology so suitable for your company?”
The RedFOX Labs venture builder model requires us to tackle some industry heavyweights who are well versed in their crafts and have vast experience in their industry sectors. For us to operate as a true attacker brand, we must first have a competitive advantage. This is where the Komodo tech comes into play.
The Komodo platform allows us to lean on well established and tested features.
- The security layer gives us peace of mind as we build out these companies as we know they aren’t castles built on sand.
- The scalability layer allows us to build without the fear of congestion or outgrowing our projects capability in servicing vast numbers of customers.
- The adaptability layer allows us to be sure that whatever trends or changes come into play, we are agile in our approach and flexible enough to move with the times, without fear of repercussion.
- The interoperability layer gives the added level of comfort of knowing that being largely language agnostic, we can partner with, introduce or merge with most systems on the market, with a little bit of work.
All in all, we believe this is the most complete end to end platform and as a result, we are able to capitalise on moving faster toward integration into existing business models which have been proven successful, time and time again.
“You’ve been expanding your team lately, what can you tell about the latest team members?”
Yes, that’s true. We started with 3 people, a vision and a building, but always had a support cast of many. We started with a successful entrepreneur and company turnaround expert, an operations expert with scaling experience and a dual skilled marketing and finance expert with blockchain experience with Komodo.
We bring on people in line with our needs, and these people each play a very significant role in our development and our end goals. Being a company that focuses on the internet economy, you may find a few clues to our direction with who we have either partnered with or employed.
Recently we brought on CA333 and JL777 who obviously will play a huge role on the tech side of development. I think neither of them needs an introduction as they are industry legends and integral in the Komodo ecosphere.
As we will be building out many businesses we needed to have someone like Brian Cu, who is a seasoned expert in building out unicorn companies in Southeast Asia, having been a founder of Grab, Go-Jek, and Zalora.
We brought on gaming legend Arclegger from H1Z1 fame and made a partnership with Komodore64 games, which also speaks volumes.
We have a CLO who handles company set-up, structure and keeps us on our toes and we have more recently brought on a team member who is a mechatronics and robotics major, which may also indicate future moves. We also have an advisor who is well versed in securities and their structure which will be imperative with new company structures as we enter the STO era.
We are only just beginning and have many more moves left to make.
“RedFOX Labs is clearly focussing on Southeast Asia’s markets, why?”
Vietnam is an obvious choice for us to base ourselves as it is one of the fastest growing markets in the region.
With some impressive growth predicted to follow, I think we will have our hands full here for quite some time as we carve out a name for ourselves in the Southeast Asian markets.
“Do you have some clients already? And what can you tell about their business case?”
We have a POC in Zaddex Exchange which will be released shortly. We are a part owner in this hybrid exchange and STO platform that will utilize Komodo technology as it builds new tech offerings into its functioning model.
We also have a joint venture with a Middle Eastern-based company called Kinetic Consulting Services which will allow us to form strong bonds with the government within the MENA (Middle East, Northern Africa) region. We were in Dubai last week for talks.
We also have another product soon to be released which we are very excited about. So although we are raising now, we have already achieved a lot, thanks to the Komodo tech.
“Your native token is called RFOX, how will it be utilized by users / companies?”
It has 3 main use cases.
- Future buy-in for companies we build out, in the form of early entry or swaps.
- As fuel for the sidechains we run as some companies we build won’t require us to produce their own token and will just use the blockchain tech
- As payment within the enterprise ecosystem
“You are running an IEO soon, what can you tell us about that?”
Yes, we decided to go with an IEO as we think this is the right pathway for us, considering the developments we have coming up soon.
- Register at Coineal.
- Fill out the ID requirements, which are processed at warp speed for an exchange
- The IEO will start on Wednesday at 2 PM UTC
- You can buy up to 10k (USDT) per person
We are also approved for several top 20 exchanges and will name them closer to the time but at least one will go live at the same time as Coineal later this month.
“Looking at your roadmap, what are you most excited for?”
I’m actually most excited about the things we can’t mention due to NDAs. However, of the items on the roadmap I am most excited about the first project of course. We have 3 cracking projects and I am very excited after a year of planning to finally get cracking.
“How can people stay up-to-date”
I am not a financial advisor who tells people to buy certain assets.
That being said, as I stated before — I participated during RedFOX Lab’s pre-sale. Also, you must understand that my time is limited and I am being compensated for my time writing this article.
Thanks for reading,