WAX is a platform that has been decentralized and for people to operate excellently in the virtual marketplace. The renowned founders of OPSkins developed WAX. This is a leading marketplace for all online videos games assets. Currently, WAX is proudly serving more than 400 million online players in the world who are busy collecting, buying, and selling in-game assets. In the recent times, WAX tokens was introduced tokenization of virtual goods in exchange for the cryptocurrency.
This mechanism is used to enhance easy trading between the sellers and buyers without issues of trust. It is yet to be launched, and it is expected to allow various traders to create their virtual stores on a decentralized platform, security, provide instant payments, and trust services that are targeted to grow the ecosystem with new participants.
Malcolm Casselle is the CIO OPSkins. OPSkins leads in the sales of in-game virtual assets as the best-known bitcoin merchant in the world. However, it has many limitations in the area of technological capacities. The creators are yet committed to making the blockchain trading a success.
They are launching a brand new blockchain platform for virtual assets trading referred to as Worldwide Asset eXchange, WAX. This new blockchain platform has been built on the foundation of decentralized smart contracts and blockchain to allow any buyer or seller to trade their virtual assets effectively. It is viewed to solve two major issues in the virtual asset market. The issues are fraud and fragmentation.
According to Malcolm Casselle, there have been concerns in the virtual asset trading ecosystem regarding security, payment processing, and language. These have been a limitation for many traders from different countries and regions. To solve this fragmentation issues, WAX introduces WAX token that will allow the sellers to tokenize and sell their preferable assets as well as the buyers to buy without issues.
It will enable purchases from one individual to another. The second problem solved is fraud according to Malcolm Casselle. Buyers and sellers are always concerned about their security in the virtual market. The new WAX blockchain will address this issue for good. It eliminates the need for intermediaries and middlemen in the virtual market.