What is World Asset eXchange (WAX)?

WAX is a purpose-built NFT blockchain and protocol token designed to make e-commerce transactions faster, easier, and safer for all participants. The WAX Blockchain uses delegated proof of stake (DPoS) as its consensus mechanism and is meant to be fully compatible with EOS. The custom features and incentive mechanisms developed by WAX are designed to optimise the blockchain's usability in e-commerce and encourage voting on guilds and proposals.

WAXP is the protocol’s utility token.

A brief history of World Asset eXchange (WAX)

William Quigley and Jonathan Yantis started working on WAX in 2017. William Quigley is a Harvard-trained CPA who’s been involved in the crypto space for nearly ten years. Yantis had been engaged in digital asset trading and sales since the late 1990s, selling online items on MMOs like EverQuest and Ultima Online.

Since its founding, the team behind WAX have studied the interest gamers have in blockchain technology and its incorporation into the video game industry. As a result of that research, in 2019 WAX developed and released a variety of new features and membership options.

Taking advantage of a delegated proof of stake consensus method, WAX offers a decentralised NFT and digital asset marketplace that prioritises carbon neutrality. Its unique blend of convenience, security, and eco-friendliness have made it the digital marketplace of choice for brands as diverse as Atari, Hasbro, Sony, and more.

How World Asset eXchange (WAX) works

World Asset eXchange benefits from a dedicated blockchain and token built to streamline digital asset creation and exchange. WAX’s use of a (DPoS) consensus method ensures it’s as eco-friendly and optimised as possible.

Creators can take advantage of WAX’s many features by launching and selling NFTs on the platform and using WAX’s own blockchain to develop decentralised apps, offering users a myriad of play-to-earn gaming experiences.

What is World Asset eXchange (WAX) used for?

The entire WAX ecosystem can be accessed and enjoyed by creating a WAX Cloud Wallet and depositing WAXP tokens into it. The WAXP token can be used to purchase NFTs and staked for rewards, including ETH and WAXG Governance Tokens.

The team behind WAX has recently unveiled plans to offer vIRL NFTs, a kind of NFT that’s associated with a physical product and can be bought, sold, and traded before being redeemed for its physical twin.

The World Asset eXchange price page is part of the Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies.