The patents have been granted in South Korea, Singapore, and some other places. Singapore Airlines uses blockchain for their loyalty program and appears to be in breach of the Loyyal patents that have been granted.
The founder appears to have run this company into the ground, clocking up huge debts and overspending prior to achieving meaningful revenue.
RFN invested a few years ago at a $15M valuation, I think it was USD $2.4M in total. It may have put in an additional $100K as part of $1M at these levels, in the form of a SAFE.
They did have Emirates contract that was signed late last year but never really appears to have got going properly due to COVID-19. I also recall some other deals but can't remember the customer names and details.
There are some positive items to be picked up cheaply from the bankruptcy trustee, but the new team will need to keep costs down and execute properly this time around.
The patents have been granted in South Korea, Singapore, and...
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