WAX.io is a subsidiary of Opskins, which operates a centralized trading platform for virtual in-game items that have video game players have acquired and may want to monetize. The goal of the project is to create a blockchain-based decentralized platform that will leverage its transparency and efficiencies to further empower gaming enthusiasts.
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- Founded 2017
- Los Angeles
- Blockchain-Based Gaming Marketplace
The Worldwide Asset eXchange (WAX) is a decentralized marketplace for in game virtual items. It specifically targets video game players. WAX was created by Opskins, which already operates a centralized trading platform that allows millions of gamers to buy and sell in-game assets. WAX is designed to serve the estimated 2 billion video game players that hold a variety of digital items. A decentralized trading platform, that is powered by the native WAX token, would enable anyone to operate an item marketplace similar to Opskins. The company launched this token in an ICO that raised $64 million. WAX promises to empower virtual asset holders with a secure exchange that has free transaction processing and instant payments. This would also create greater liquidity for a wide range of virtual items that would otherwise be difficult to monetize.