⏰ Time Stamps ⏰
5.31 What is WAX?
7:50 The Tech
11:58 WAX Could Power Crypto Into Gaming?
13.04 The WAX Coin
14.37 WAX Team
15:45 WAX Partnerships
18.17 Final Thoughts
⛓️ 🔗 Helpful Links 🔗 ⛓️
► Website: https://wax.io/
► Whitepaper: https://github.com/worldwide-asset-exchange/whitepaper
► Github: https://github.com/worldwide-asset-exchange
►Guilds, Staking and Voting: https://github.com/worldwide-asset-exchange/whitepaper#guilds-block-producers-staking-and-voting—enhanced-governance-features
► WAX Guild Rankings: https://wax.bloks.io/
📱️ Socials 📱
📝 Project Overview 📝
Did you know that the virtual items market is huge business? It is projected to hit $190 billion by 2025 and the biggest segment of this market is gamers buying virtual in-game items like swords, magic wands, guns, digital real estate and more to help them level up in games.
WAX aims to tap in this market through its Worldwide Asset Exchange by making digital items tradable by gamers around the globe.
❓What Is WAX❓
In short, WAX is a marketplace platform for virtual items which has its own blockchain that is backward compatible with EOS. The project is all about serving video gamers who collect and trade these items, whilst opening up crypto to an ever expanding audience.
On the business front, WAX enables anyone to open up their own virtual item store easily and become a digital item entrepreneur. This opens up completely new monetization opportunities for businesses like gaming blogs or even your typical guy with a lot of gamer friends.
⚙️ The Tech ⚙️
The WAX blockchain protocol uses Delegated Proof of Stake as its consensus mechanism and block production is carried out by 21 block producers which are dubbed ‘Wax Guilds’.
WAXtoken also uses staking to incentivize voting participation on things like improvement proposals, Guild elections and more.
Another thing to know is that 40% of WAX’s annual inflation goes to Guilds as a reward payment.
🔮 How WAX Could Power Crypto Into Gaming? 🔮
Every year the world’s gamers are spending billions of dollars on in-game items. As long as a virtual item is in demand and is scarce, it will always have monetary value. The problem with the current system is that for people to buy or sell items peer-to-peer, gamers are currently forced to use black or grey marketplaces which are rife with scammers.
WAX does away with that problem through it’s digital asset exchange and, even better, it pools together the liquidity from all the marketplaces on the platform. That means gamers don’t have to price compare across multiple different platforms and can be confident they are buy or selling at the true market price.
As WAX is crypto powered, this means that users have minimal transaction fees to pay too which is a pretty nice value proposition for gamers.
💰 The WAX Token 💰
The WAX token is used to power the WAX digital asset market place. This includes the buying and selling of digital items. At the time of shooting this video, the WAX staking reward is just a little over 4% per year and the inflation rate stands at 5% per year.
👯 WAX Team 👯
The project is brought to you by the same guys that built OPSkins. This was a centralized digital asset marketplace that saw over 100 million trades per year. That same team saw the flaws of the centralized marketplace model and bring that experience to WAX.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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