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RFOX opens regional office in Dubai

Metaverse startup plans to use Dubai as a hub for its expansion plans

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RFOX, a metaverse startup, has selected Dubai as its regional office and plans to use it as the hub for its expansion plans. The company is currently domiciled in Southeast Asia and has carved out a reputation as one of the hottest blockchain companies.

The RFOX VALT metaverse, a virtual world the company is building in virtual reality (VR), and its integration with the multiple other businesses the company has already built to create a vibrant ecosystem, is focused on shopping, retail, and entertainment experiences, offering users the ability to have new and immersive experiences with brands and celebrities in VR.

RFOX established a roadmap to build a metaverse two years ago. The plans accelerated once Facebook announced it was pivoting to become a metaverse-focused company called Meta. RFOX is one of the few companies that have specifically targeted both retail and entertainment sectors for its metaverse focus. The two sectors are expected to dominate the metaverse market, estimated at USD 1.6 trillion by 2030, according to Emergen Research.

The company said it looked at multiple jurisdictions and decided that Dubai was making great progress in giving users confidence in virtual assets. Dubai’s adoption of the Virtual Asset Regulation Law, the first law governing virtual assets, and the establishment of a regulator to oversee the sector. will help facilitate the mainstream adoption of virtual assets.