FOR IMMEDIATE RELEASE — February 13, 2023
FIBTECH hires Outsider DAO to help lead its commercialization, business development and brand positioning efforts.
FibTech Corporation, formerly FibSwap DEx, LLC, is pleased to release today its second major update covering the many recent significant developments at the company. In our first update in December, we communicated the following milestones:
- closing our first round of outside capital;
- changing the company’s jurisdiction to the Republic of Panama;
- completing our Certik code audit;
- releasing our latest product, FibPal, the world’s first multi-cross chain NFT payment system;
- migrating our utility token, Fibo, to Polygon.
In this update we describe our new partnership with the advisory services and investment DAO Outsider.
In December, we officially engaged the Outsider team to accelerate our go-to-market efforts, and in particular to increase market adoption of our FibSwap and FibPal products. More specifically, Outsider is committed to four key objectives. These include:
- Commercialization strategy: developing a thoughtful strategy that contemplates the timing and execution of strategic partnerships, future product development, and customer acquisition, among other go-to-market initiatives
- Business development: developing well-designed and lasting partnerships with both respected industry incumbents and emerging platforms, with the intention of acquiring users who will embrace, utilize and socialize our products at scale, and thereby contribute to increased transaction fee income and price appreciation of our native token Fibo
- Brand positioning: strengthening FibTech’s market position and brand by identifying and then serving key user demands, with the intention of making FibTech the most trusted and successful payments facilitator in our industry
- Stakeholder communication: effectively communicating our progress to and seeking feedback from FibTech’s diverse audiences and communities to guide future work
We are delighted and humbled to partner with such experienced and capable executives at Outsider, whose experience spans decades in interactive software development, technology investment and M&A advisory. Together, our two teams have begun laying important groundwork to build FibTech into a trusted organization and critical component of the overall blockchain payments infrastructure serving enterprises and consumers alike, and ranging across industries from gaming and NFTs to decentralized finance.
In last month’s communication, I referenced the overwhelmingly positive response we continue to receive from our existing users, who find our products safe, novel, and perhaps most importantly, easy to use, with virtually instantaneous settlement times — attributes that other similar providers have delivered with only partial success, and which are fundamental to enabling this industry to achieve mass market adoption. Indeed, these same product characteristics represent not only a significant competitive advantage, but also the needs communicated most to us by potential partners engaged in talks with the Outsider team. We are therefore optimistic that these partnership discussions will continue to make headway, and we look forward to updating you further as we begin to formalize these new and important strategic relationships.
The Outsider team’s efforts to strengthen the FibTech brand are also beginning to bear fruit. A large part of this process entails understanding the specific needs of not only our existing end users but also the partners organizations through whom we hope to scale our user base over time. Ongoing discussions with several new potential partner organizations are already yielding important insights about specific customer needs, which will be instrumental in our ability to refine how we communicate our value to the market and guide future product development. We’re grateful for all the feedback we’ve received in these conversations, and we are working with unflagging determination to take the FibTech brand to new heights.
In closing, I want to reiterate that our unwavering objective is not simply to build the fastest growing or financially lucrative business possible (which indeed are our aims), but also to create a brand that engenders the very ideals of trust and safety — based on both a superior product offering and a tireless effort to keep our systems secure and relevant to ever-evolving customer needs.
Thank you for your continued interest in FibTech, and we look forward to providing you with additional updates in the near future. Please stay tuned.
Leo Fibonacci, Founder
FibTech is a blockchain infrastructure technology company that allows for the immediate and safe exchange of any tokens across all blockchains, without the use of intermediate tokens or bridges, and without the need for users to ever leave their wallets. FibTech’s major products include FibSwap, its core swapping technology, and FibPal, which is the world’s first DeFi multi-cross-chain NFT payment system.
Outsider is an advisory services and product development studio that serves the blockchain, AI and metaverse industries. Outsider’s core team has built, operated and advised some of the most recognized software companies in the world, spanning social media, games, consumer VR, enterprise SaaS and a range of other Web2 and Web3 organizations. Outsider DAO makes targeted investments in the same industries, providing early stage capital to teams with ambitions to be category leaders.