Worldwide Asset eXchange (WAX) is a platform built on a decentralized blockchain that allows any user to create a virtual gaming asset marketplace. The platform is an online system for gamers that makes it possible to exchange NFTs from games for various popular cryptocurrencies. The main assets being traded on this specialized exchange are the objects from online games and WAXP coins. The WAX token is intended for settlements between gamers within the platform. It is created on the Ethereum blockchain. The current price of WAXP can be seen on this page. The Markets tab shows which exchanges have already listed WAX and what WAXP pairs are available for trading, including the respective price of WAXP.

What are WAX’s key features and how does it work?

A main feature of WAX is that it allows you to trade non-fungible NFT tokens on its platform. This can be done using the WAX Random Number Generator. WAX RNG is WAX's own blockchain service that is programmed to generate fair random numbers for individual users. Smart contracts can also be built using WAX RNG.

The purpose of the WAX platform can be summarized as follows:

Completion of transactions using a special widget perfected for buying game assets using cryptocurrencies;
To make transactions, users only need to hold WAXP tokens and register an account on the platform;
Payment for skins and other game assets via tokens. These can then be used to purchase other valuables, exchanged for other tokens/currency, or stored in a wallet for future use
Creation of games, marketplaces, dApps, and more.

The features of this innovative platform can be taken advantage of by any gamer whose games are compatible with the exchange.

What makes WAX noteworthy?

Gaming is one of the fastest-growing sectors. WAX reduces transaction costs, creates marketplaces for games where it was previously impossible to exchange assets. Tokenization also allows owners of virtual assets to transfer them into physical assets. The blockchain and smart contracts, which make the exchange of virtual assets safe, fast, and global, are the key advantage of this project. Being an NFT focused, the blockchain allows anyone to build or update their games, dApps, marketplaces, and more. It has everything one needs to successfully launch an NFT collection.

Another feature that makes it noteworthy is that thanks to the Proof of Stake (DPoS) system, there is no need to have powerful machines to mint new tokens. This project is more environmentally friendly as it is 66,454 times more energy-efficient than Bitcoin.

What can WAX be used for?

The WAX project improved the way sellers and buyers of a particular game object interact. Transaction security is guaranteed by smart contracts, which is beneficial for both parties. There is also no need to incur currency conversion costs or pay high payment processing fees, amongst other benefits. This means that sellers can get more for their assets and buyers can save some money.

In addition to benefiting from more convenient and less expensive transactions between players, individuals who are not gamers can invest in the WAX token.