Name: Worldwide Asset Exchange - Virtual Marketplace for Game Assets
Price Info- https://coinmarketcap.com/currencies/wax
Worldwide Asset Exchange [WAX] is a decentralized platform which allows anyone to operate their fully operational virtual marketplace without having going through the hassles of investing in security, infrastructure, or payment processing.
WAX aims to connect this loose global marketplace that is originally based on a high degree of trust and scattered user-forum communications by offering a smart contract-based peer-to-peer marketplace.
Developed by the founders of OPSkins (the world’s leading marketplace for gamers), WAX has been designed to serve more than 400 million gamers worldwide. William Quigley is the CEO of both WAX and OPSkins, having also co-founded Tether.
Developed by the founders of OPSkins, WAX is a digital marketplace for the millions of people who buy and sell in-game items. Wax is also being advised by Dave Anthony, creator of the popular video game Call of Duty.
WAX integrates the concept of a decentralized exchange with multi-party agents and settlement agents and is also asset agnostic.
WAX, the token native to the platform, is governed by a Delegated Proof of Stake (DPOS), the same one originally created by BitShares. The token generally serves as a platform utility medium. This means every item listed on the site has its value based in WAX.
WAX is also used to determine the number of vote allocations users get. Users are also charged small amounts of WAX for transactions and messages as a fee for using the network, similar to ETH Gas.
The WAX token is divisible to 17 decimal places and can be used for micro-settlements.
The DPOS consensus algorithm allows for high transaction throughputs. The main difference between DPOS and POS is that in DPOS, confirming nodes are elected by token holders who pledge votes to proposed delegates. These confirming nodes, called “Guilds” on the Wax platform, exist to ensure the platform and exchange of tokens is running smoothly. The WAX platform supports 64 Guilds, which are ranked by the number of votes they receive.
The WAX Platform also makes use of “Transfer Agents”, which are trusted users to accept and transfer virtual goods between users. What adds a degree to these Transfer agents over the traditional third-party escrow party is that the Transfer Agents have to put up a bond of WAX tokens. These Transfer Agents are rewarded a percentage of the fee in WAX tokens.
These Transfer Agents can also signal to the Guild that they want more additional settlement execution contracts when they are online.
WAX is becoming the go-to platform for in-game items and crypto collectibles.
WAX is forming a number of partnerships and continues to add assets to its platform:
1. OPSkins partnered with Salt Lending to enable WAX tokens to be used as collateral for cash loans.
2. WAX formed a strategic partnership with Gifto, the blockchain virtual gifting protocol, where Gifto virtual gifts will be tradable on WAX.
Today, more than 5 million in-game digital items are listed for sale in exchange for WAX on the OPSkins platform. Items range anywhere in price from pennies to tens of thousands of dollars.
That means buyers can use WAX to purchase items. Sellers can accept earnings in WAX. Then, WAX can be used to purchase other items or can be sent to a crypto wallet for other uses.
Looking forward, the focus for the remainder of 2018 is launching the WAX blockchain.
The first half of 2018 will see a testnet and alpha development. The second half of the year brings the beta and oﬃcial launch of WAX’s custom blockchain.
That will bring WAX one step closer to its ultimate goal of creating a complete decentralized platform for virtual goods.
The Worldwide Asset Exchange is quickly becoming the leading exchange for crypto collectibles, also known as digital collectibles. A prime example of a crypto collectible is CryptoKitties.
So far in q1 2018, WAX has partnered with CryptoKitties, Etherbots, Fishbank, and CryptoBots. Each of these games involve creating digital collectibles. And those collectibles will all be available to trade on OPSkins using WAX tokens.
WAX is the global decentralized marketplace for virtual assets.
Created by top virtual goods marketplace OPSkins, WAX allows anyone to host their own marketplace to buy and trade securely and with low fees from anywhere in the world.
WAX is designed to serve the 400 million gamers who already collect, buy, and sell in-game items with a simple exchange that leverages blockchain technology for transaction verification and recording.
OPSkins boasts over 2 million transactions on its platform, with 200,000 new users joining every month.
Cryptocurrency and gaming are a natural fit. Gamers tend to be technologically savvy and are more comfortable with the idea of cryptocurrencies. For example, 55% of millennial gamers own cryptocurrency, compared to just 5% of all millennials.
Now, with cryptocurrencies, games can monetize their virtual gaming goods.
You can simly buy WAX on the following exchanges. They are delimited in WAX/BTC pairs.
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