What is WAX? Your Gateway to the NFT Ecosystem Explained
A Closer Look at WAX Blockchain
In 2017, the visionary founders William E. Quigley & Jonathan Yantis embarked on a mission to democratize the world of digital collectibles. Enter WAX Blockchain — a revolutionary platform created specifically for digital assets. But what sets WAX apart from other platforms like Ethereum? Let’s dive into the world of WAX and find out …
Understanding Digital Collectibles
Digital collectibles, known as NFTs (Non-Fungible Tokens), represent ownership of something unique and scarce in the digital realm. They’re like physical collectibles, only digital, and bring a whole new dimension of convenience and potential. They represent ownership of everything from exclusive video game skins to original digital art.
Now, let’s take it a step further — imagine owning a virtual sculpture that is linked to an actual, physical sculpture. That’s what the WAX team brought to life with vIRL NFTs, patented by the WAX Team. With vIRL NFTs, you can own physical items without taking delivery. When you own a vIRL NFT, you have the option of selling it, holding onto the NFT, or redeeming the physical item. And the best part? vIRLs® save the environment from excess shipping. With NFTs and vIRL NFTs, the possibilities are endless.
The Role of WAX Platform & WAXP Token
The WAX platform offers a powerful and user-friendly environment for creating and trading digital collectibles. It serves as a bridge that connects creators, collectors, and developers, providing a marketplace that leverages blockchain technology for enhanced user experience and security. Create a wallet & dive into the world of digital collectibles on WAX here.
WAXP, the native token of the WAX Blockchain, is the primary medium of exchange used to buy and sell digital collectibles on both primary NFT sales and secondary markets. As the lifeblood of the WAX ecosystem, WAXP seamlessly powers transactions, ensuring a smooth and secure experience for creators, collectors, and traders alike.
What about decentralization and governance on WAX? Get to know the Office of Inspector General (OIG)! The OIG functions as a watchdog agency, impartially asessing the contributions of WAX Guild Candidates to the ecosystem, fostering transparency for the community. The OIG comprises three members, each independently elected by the community, which helps to enhance the decentralization of the WAX Network.
Who is the WAX Blockchain For?
Gamers, are you ready to truly own what’s yours? Play games on WAX and experience a whole new level of immersion. Unlock achievements, trade in-game items, and turn your gaming prowess into real-world value. With the WAX Blockchain, your virtual victories have never been more rewarding. Game On.
Collectors, are you ready to own a piece of the digital world? The WAX Blockchain provides a rich ecosystem for discovering, owning, and trading digital collectibles. Dive into a diverse collection of NFTs and take pride in your unique digital ownership. Discover NFTs.
Developers, are you up for pushing the boundaries of Web 3? Join the WAX Blockchain and be part of the revolution. Build tools, create applications, and drive innovation in the ever-expanding WAX NFT ecosystem. Build Now.
Creators, it’s time to step into the digital arena and capitalize on your talent. Leverage the variety of tools offered by WAX to digitize your artwork, create unique NFT collections, and build a thriving digital marketplace that rewards your creativity (all without spending WAXP on gas fees). Get Started.
Six years ago, we introduced WAX as a platform that eliminates the problems associated with digital item trading through the use of cryptocurrency, smart contracts, and blockchain-based settlement. With the WAXP utility token, trust is eliminated, transactions are seamless, and buyers and sellers worldwide can discover and trade virtual items securely.
Fast forward to today, WAX has become a powerhouse in the digital collectibles space, offering unparalleled transparency, access, and security. With over 400 million video gamers already trading virtual items, WAX has laid the foundation for an even greater future; where blockchain-based systems could become the new standard for video game publishers, expanding the scope of item trading capabilities.
Behind the WAX Platform are experienced founders who have made significant contributions to the fields of item trading, cryptocurrency, partnering with major brands, and video game publishing. Their expertise has paved the way for a robust platform that caters to the unique needs of virtual item trading.
But WAX’s potential extends beyond the gaming and collectible space. By providing a secure, blockchain-based open architecture, WAX can empower entrepreneurs to create new business opportunities around safe and secure item trading, including digital-to-physical item trading. It’s a tool that already redefines how we trade and value items, both digital and physical.
