WAX WAX refers to a global asset platform designed for virtual items in gaming. related to video games This completely decentralized framework enables anyone to operate a virtual marketplace without needing to invest in payment systems, infrastructure, or security measures. The creators of WAX are the same minds behind OPSkins, a leading video game asset marketplace. WAX was designed to serve over 400 million gamers who trade, collect, and sell virtual items.
The WAX platform offers countless traders the ability to open their own virtual shops on one decentralized network. Each of these shops benefits from trusted services, security, and rapid transactions, potentially drawing millions into the expanding network.
Who Is Behind WAX?
As discussed, the creators of WAX also founded OPSkins. Since its 2015 inception, OPSkins has been a frontrunner in the virtual gaming asset marketplace. They've facilitated over 100 million transactions annually across 95 countries. Despite its centralized nature, OPSkins' potential through decentralization became apparent, empowering users even more.
What Are WAX Tokens?
WAX tokens act as the utility currency for the exchange, simplifying the process of tokenizing and exchanging virtual goods with crypto. While predominantly aimed at gaming, their functionality extends outside this realm. Smart contracts ensure trustless transactions between parties.
The WAX Token event saw 64,750,000 tokens (35% of the total) sold, with each contributor gaining tenfold their purchase. This tenfold token method simplifies calculating microtransactions, essential for a platform facilitating such exchanges. Allocation included 30% for market growth, 15% for advisors and early backers, and 20% for the WAX founders and team.
What Is the WAX Blockchain?
WAX Platform functions as a global library for virtual items, accessible to all. Mirroring blockchain principles, users can access a live feed of available for-sale items. Blockchain integration gives WAX users global market access alongside security and transparency benefits.
Who Can Engage with the WAX Ecosystem?
Participants can become Store Owners, managing personal virtual item markets. WAX likens this to entrepreneurial expansion like early online market platforms revolutionizing traditional business reach.
Users may join or create Guilds for transaction governance related to specific game servers. Guild members enjoy rewards for active participation.
Transfer Agents oversee deals, earning commissions in the process. As agents accumulate fees, more tokens circulate within the ecosystem, boosting its growth.
Knowledgeable WAX enthusiasts can become Appraisers, offering valuation and certification services to marketplaces in need.
Lastly, Asset Creators leverage their creative and design prowess to craft virtual assets for sale in their unique shops.
What Partners Does WAX Have?
WAX continuously seeks fresh collaborators committed to refining the ecosystem's user experience while ensuring security and enrichment. Partners share a vision to democratize global tech access, rewarding users based on contributions. Key partners include Kyber Network, Robot Cache, Bancor, Jaxx, and SALT.
What WAX Applications Exist?
An online SDK, WAX Connect allows seamless listing widget creation, user onboarding, and remote wallet transactions. It can automatically discover nodes based on guild association, facilitating listing retrieval.
WAX Nodes serve as complete network nodes, indispensable for Guild operation and Transfer Agent bonding. They provide access to APIs, nodes, and Guild discovery, with each node maintaining a full plex of the WAX blockchain.
Non-Guild WAX participants utilize the WAX Wallet to manage tokens and engage as DPOS delegates.
Finally, the WAX Core SDK bundles WAX Wallet and Node functionalities, underpinning delegate forging and blockchain alignment, alongside offering a comprehensive developer API for platform growth.
What Does the WAX Roadmap Look Like?
WAX's roadmap started in Q4 2017 with a whitepaper release and the initial WAX version on OPSkins. Q1 2018 featured manual onboarding and ERC721 outreach, culminating in blockchain decision-making. Q2 plans include launching a Crypto Collectibles market and implementing WAX DPOS on Guild Nodes.
The Q3 agenda encompasses listing contracts, self-service automation for Crypto Collectibles, settlement contracts, and dispute resolution development. Q4 introduces user rating systems, guild setups, and guild polling. The year's end sees a WAX beta release, moving to full platform operation by Q1 2019.
Conclusion
WAX's vision supports transactions involving online gaming assets, bolstered by a reliable team with OPSkins credentials. As WAX evolves, it promises to be noteworthy in the industry.
