Crypto Coins: Overview: WAX (WAX) the Global Decentralized Marketplace for Virtual Assets. Should you invest?

  • Monday, 30 April 2018 16:38
Overview: WAX (WAX) the Global Decentralized Marketplace for Virtual Assets. Should you invest? Overview: WAX is a decentralized platform that enables anyone to operate a fully functioning virtual marketplace with zero investment in security, infrastructure, or payment processing. The aim of the WAX Platform as a virtual goods marketplace is to decentralize exchanges while allowing users to purchase goods with a global token making the entire process faster, easier and safer for everyone. They ran ICO in November when they raised a very significant amount of over $68 million. Usage: WAX enables store owners to operate their own virtual item marketplace and can support a variety of selling structures to maximize liquidity, such as bidding, reserve bidding or fixed price. Usage wise if the user decides to purchase a virtual good by selecting “buy now” in the WAX widget and is presented with an authentication window. If this is the first time he is interacting with the WAX Platform, he’ll be taken through an onboarding process that creates an identity, allocates a WAX Wallet, and allows him to fund the immediate purchase. Tokens: WAX Token is the native token of the WAX Platform, and supports all activities and functionality on the WAX Platform. WAX Token is a platform utility medium that enables users to list items for sale, transact value between each other, settle the transfer of virtual goods, create and service contracts, and propose and vote for WAX Virtual goods’ sales prices are listed in WAX Token; when a user wants to purchase the virtual good they pay with WAX Token. If the item is listed in a different currency the WAX Token must be converted by the listing agent at the current exchange rate at time of purchase. Availability and price: WAX is listed on several significant exchanges with the main ones being: Bittrex (35% of volume), Huobi (32%), Upbit (25%), Ethfinex (4%), Kucoin (2%) BTC is the most popular pairing but also paired with ETH, USD, Tether, BNT Current price as of 26th of April is around $0.35 with WAX being ranked on 87th place in terms of the market capitalisation and market cap of around $222M. Around 622M out of 1.8B tokelns are currently in circulation meaning around 33% of tokens are already in circulation. Other aspects It is designed and developed by founders of OPSkins, the world’s leading marketplace for online video game assets. According to LinkedIn there are over 40+ employees in that team. The WAX is already implemented on OPSkins and users who list things in WAX tokens get discounts on commision. The upcoming developments include crypto collectibles marketplace in Q2 as well as listing, settlement and dispute resolution contracts in Q3. WAX Beta planned at the end of 2018 with full platform at the beginning of 2019. Team is very active on social media and different events. My verdict One of the few cryptocurrencies with actual real life application where users can recieve and pay in WAX tokens. On the WAX platform the token will be the only mean of payment even if other currencies are used so there should be plenty of demand for the token. Competition include Enjin (104M but different use case), Gameflip (not listed) and DMarket (29M but limited current application). WAX has huge advantage due to OPSkins connection. With the current mcap of around 200M it's actually seems to be an interesting option and one of the safer safer from cryptocurrencies that aren't in top 50 especially considering at some point this project was valued at over 1B. Follow me on social media: Telegram: https://t.me/crypto0coins Twitter: https://twitter.com/Crypto0Coins Facebook: https://www.facebook.com/crypt0coins/ Steemit: https://steemit.com/@dmae Twitch: https://www.twitch.tv/dmae You can also use my referrals: Coss referral: https://sso.coss.io/api/invite/XJZ89O9XRU Binance referral: https://www.binance.com/?ref=10136785 Coinbase referral: https://www.coinbase.com/join/580f4ae28bfa31697d9a8f7c I no longer accept donations! Love you but keep in mind that this is not a financial advice!

Additional Info

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

Disclaimer: As a news and information platform, also aggregate headlines from other sites, and republish small text snippets and images. We always link to original content on other sites, and thus follow a 'Fair Use' policy. For further content, we take great care to only publish original material, but since part of the content is user generated, we cannot guarantee this 100%. If you believe we violate this policy in any particular case, please contact us and we'll take appropriate action immediately.

Our main goal is to make crypto grow by making news and information more accessible for the masses.