This guide will introduce you to what is WAX eXchange and whether it is worth to invest. The first decentralized marketplace focused primarily on video games and trading virtual collectibles. This is the first protocol that allows gamers to truly own assets without relying on providers or networks.
What is WAX eXchange?
WAX, which stands for Worldwide Asset eXchange, is a blockchain dedicated to trading virtual items, such as video games and rarities, and collectibles in virtual worlds. The WAX Blockchain serves as a decentralized marketplace and dapp platform with a strong focus on video games and virtual collectibles.
Instead of trusting a centralized video game provider or network, players can truly own their virtual assets and trade with anyone on the WAX platform. Holders of virtual goods can also know that these items are provably rare and cannot be made until the game developer decides to make more.
Who is the inventor of WAX?
William Quigley (current WAX CEO) and Jonathan Jantis (current COO) launched WAX in 2017. Both have a long history in the industry. Yantis was a pioneer in virtual products back in 1997, and Quigley founded WAX after two years at OPSkin, the largest marketplace for gamers to trade digital items.
Wax launched its initial coin offering (ICO) in December 2017 and reached a market cap of $1.2 billion by January 2018.
How is WAX produced?
During the WAX ICO, 64,750,000 WAX tokens were sold for $9.6 million. The tokens used during the ICO are ERC20 tokens on the Ethereum blockchain.
During the genesis or first block of the official WAX blockchain, the total supply is 1,850,000,000. With the launch of the WAX Blockchain mainnet, the original ERC20 WAX tokens can be exchanged for the new blockchain's native WAX tokens.
Is it worth investing in?
Worldwide Asset eXchange (WAX) is one of the best-performing companies in the cryptocurrency market right now. It is a blockchain and protocol token specifically designed to make e-commerce transactions safer, easier and faster for all participants. Technical analysis and forecast data show negative sentiment in the short term, but the future value of the coin is bullish, and those who invest in the long term are expected to receive a profitable investment return. The cryptocurrency world is volatile; therefore, accurate WAX predictions are impossible. It is necessary to do your own research before enrolling. Considering the level on a particular date, you can take some appropriate investment advice for better returns.
So I hope now you know what is WAX eXchange and whether Is it worth investing in or not. The platform provides developer-friendly microservices and provides an ecosystem for developers and eSports enthusiasts. As a result, users can build in the blockchain without the friction or any other difficulties that are common when creating dApps.
