Published on Feb 21, 2020
WAX is a decentralized platform that enables anyone to operate a fully functioning virtual marketplace with zero investment in security, infrastructure, or payment processing. Developed by the founders of OPSkins, the world’s leading marketplace for online video game assets, WAX is designed to serve the 400+ million online players who already collect, buy and sell in-game items.
Harnessing the power of blockchain technology, WAX Tokens are utility tokens that allow virtual goods - and not just for use in video games - to easily be tokenized and exchanged for cryptocurrency. The smart contract underlying the transaction acts as the mechanism that permits trustless trading between buyers and sellers. The WAX Platform will allow millions of traders to create their own virtual stores on one decentralized platform, providing instant payments, security, and trust services that will bring millions of new participants into a growing ecosystem.
The role of the WAX Platform as a virtual goods marketplace is to decentralize exchanges while allowing users to purchase goods with a global token. With this important shift in structure, millions of buyers and sellers will have the power to use their social graphs to buy and sell virtual goods effortlessly. WAX can support a variety of selling structures to maximize liquidity, such as bidding, reserve bidding or fixed price. The cottage industry of buyers and sellers currently served by OPSkins will not have to develop complex backend systems but, instead, will use the WAX Platform to leverage the most powerful aspects of the OPSkins asset exchange.
WAX will enable a new generation of virtual asset traders, in a similar way that modern marketplaces enabled entrepreneurs to become power sellers online, ride share drivers or hosts for travelers (Alibaba, Amazon, Uber, and Airbnb). These platforms enhanced commerce for millions of small business owners and created hundreds of billions of dollars of Seller WAX Listed Asset Buyer Offer Accepted? YES NO PAYMENT ASSET TRANSFER TRANSFER AGENT 7 new value by making their platforms easy to use and widely available, while simultaneously solving expensive problems like fraud prevention, settlement execution, product and seller reviews, standardized catalogs of product information, supply and demand matching, etc.
WAX is designed to serve the 400+ million online players who already collect, buy and sell in-game digital items.
Store Owner
Guild
Transfer Agent
Appraiser
Asset Creator
Operate Your own Virtual Item Marketplace
WAX enables a new generation of virtual asset traders, similar to how earlier online marketplaces enabled entrepreneurs to become power sellers.
Oversee the Markets for Your Favorite Games
Start or join Guilds that self-govern and oversee transactions specifically for your favorite game or game server, and receive rewards for your involvement.
Ensure Transactions are Valid and Secure
By reviewing and facilitating transactions, WAX members can earn significant fees. With more fees earned, there will be more tokens available for using and accessing the entire ecosystem.
Get Rewarded for Your Marketplace Expertise
WAX members familiar with assets and pricing for their favorite games can offer appraisal services to marketplaces in need of valuation and verification services.
Make and Sell Your Own Items
Entrepreneurial designers and makers will be able to create virtual assets and offer them for sale in their individual marketplaces.
The WAX Platform is a global virtual item repository, accessible to anyone, that provides a complete catalog of all items available for sale in real time. This provides users of WAX with access to a worldwide market, with all the advantages of blockchain technology.
WAX’s Partners help to make our ecosystem feature-rich, secure, and optimized for all users. Like all of us at WAX, our Partners love working to decentralize and democratize the world through groundbreaking technology, empowering our users to benefit proportionally to their contributions. If your organization shares those values, we'd love to hear from you..
