WAX WAX

$0.1176
Market Cap $ 110.040 MM (#62)
24h Volume $ 897.270 K
Chg. 24h: -4.60%
Algo. score 3.4/5  (#243)
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WAX project purpose and description

WAX clarity of purpose

WAX purpose and aspects

WAX is a decentralized platform that enables anyone to operate a fully functioning virtual marketplace with zero investment into security, infrastructure or settlement. 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. With the inclusion of WAX’s simple exchange widget, gamers will have access to a worldwide market, with blockchain trust and transaction verification.

WAX additional differentiation against competition

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. 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.

WAX categories

MarketplaceGamingBuild dappsPlatform

Short description

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.

Abstract

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 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

Link to Roadmap: https://wax.io/documents/WAX_White_Paper.pdf?1525725161177
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