World Asset eXchange (WAX) is a virtual marketplace that enables people to fully operate without necessarily investing in infrastructure, security or payment processes. WAX is a development done by the founders of OPSkins, a leading online video game assets trade center. according to its design, Wax is capable of serving over FOUR million players collecting, buying and selling in-game items.
WAX is headed by Malcolm CasSelle who is also the CIO of OPSkins. formerly the president and CTO of Tronic (previously known as Tribune Publishing), Malcolm lead properties leveraging digital assets’ rapid growth. Malcolm also worked at SeaChange international at the posts of SVP and GM of digital media.In addition, the digital industry experience startups as a result of Malcolm’s leadership.These include a leading solution to digital subscription by major media companies, a 22M social network for gamers called Xfire.
Malcolm was also the co-founder of PCCW in his early carer, a Hong Kong-based publicly traded telecom company. In his career, Malcolm insisted on raising a lot of funds for PCCW’s public offering as well as for other private transactions. Malcolm is both a Japanese and Mandarin speaker.He holds degrees in computer science from Stanford University and MIT.
buyers select, pay (in WAX tokens) and accept the item using the WAX’s simple exchange widget without necessarily leaving the site that they are on. Through interaction with the WAX platform, any buyer can view and purchase a product from any seller. Problems experienced by digital time traders such as fees paid for processing of high payments and limited inventory access will be solved by WAX through decentralization.The size of items trading will increase by eliminating these barriers way beyond the current $50 billion size.
Through the wax platform, buyers from all over the world are enabled to access the global pool of supplies of virtual goods without encountering any financial risks.Through blockchain technology, wax tokens allow easy tokenizing of an exchange of cryptocurrency. By the smart contract during the transaction, trustless trading between sellers and buyers is permitted. Millions of traders will be allowed through a decentralized platform to create their own virtual stores. This will provide instant payments, trust, and security which will lead to attractions of new players into the ecosystem under constant growth.