Ms. Apinya Ruangthaveekoon, Managing Director, Kubix Digital Asset Co., Ltd., said, "Currently, businesses are facing difficulties in accessing funding sources amid the rising interest rate trend. Soaring funding costs have thus led to a decline in liquidity in financial markets and decelerating investment. However, many businesses which are in the growth stage and with satisfactory performance are still in need of capital for further expansion. A new funding source to access a variety of investors will be a viable option for entrepreneurs in this era. In 2023, the business sector in Thailand has thus far converted real-world assets into more than 5 billion Baht worth of investment tokens via ICO. This trend has increasingly been seen in international markets as well."
Thanks to this trend, Kubix, as an ICO portal platform under KASIKORN Business-Technology Group (KBTG), has partnered with Rev Edition Co., Ltd., the operator of REV RUNNR stores, to explore the possibility of mobilizing funds for their lifestyle business through ICO fundraising. Being a leading importer and distributor of sports equipment for modern lifestyles, Rev Edition exhibits promising business prospects, which should attract strong interest from investors. Kubix and Rev Edition will work together to design tokenomics that would be suitable for the issuance of investment tokens in the future.
Mr. Pornsak Chinawongwatana, CEO, Rev Edition Co., Ltd., said, "The collaboration between Rev Edition and Kubix to explore the possibility of fundraising via ICO reaffirms Rev Edition's leadership in the retail sporting goods business and endeavor in promoting the sporting lifestyle among Thais. The company will continue to work with Kubix to deliver value that aligns with the needs of target customers and investors. Additionally, Rev Edition has partnered with Kubix to introduce special privileges via the Kubix app, offered as New Year's gifts for health enthusiasts. Those who open a Kubix account and create a digital wallet via Kubix app during December 14, 2023 - January 14, 2024, will get a total discount of 600 Baht when shopping at Rev Edition's shops. Plus, customers can also join an upcoming online activity on the Facebook page @Kubix.DigitalAsset to win a pair of limited-edition HOKA Nicole McLaughlin Mafate THREE2 shoes, with only 34 pairs available in Thailand. More details can be found at www.kubix.co."
Rev Edition, an operator of REV RUNNR, the No.1 running specialty store, imports and distributes many world-renowned premium running shoe brands which are well-known in Thailand, including HOKA, Saucony, Kailas, Nike, Under Armour, Puma, Adidas, Oakley, Rabbit, Lupine, LEKI, GOODR, Atreyu, Brooo, On, and Scott, as well as lifestyle fashion brands such as Champion and Teva. The company has operated its sports-related business for over 22 years and presently has a total of 158 stores in its chain both at home and abroad.
Source: Kasikorn Bank
