WAX is a decentralized platform that enables anyone to operate a fully functioning virtual marketplace with zero investment into security, infrastructure or settlement. Developed by the founders of OPSkins, the world’s leading marketplace for online video game assets, WAX is designed to serve the 400+ million online players who already collect, buy and sell. With the inclusion of WAX’s simple exchange widget, gamers will have access to a worldwide market, with blockchain trust and transaction verification.

The WAX Platform will allow millions of traders to create their own virtual stores on one decentralized platform. The WAX Platform unites everyone, providing security, transaction, and settlement services that will usher millions of new participants into a growing ecosystem.

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With massive liquidity, buyers and sellers get the best prices and the quickest settlement, while the global gamer community as a whole receives their own secure virtual asset exchanges on the blockchain with WAX. Similar to how marketplaces such as Amazon, Alibaba, Uber and Airbnb changed commerce for millions of small business owners and created hundreds of billions of dollars of new value, WAX empowers a new generation of virtual asset traders. 400+ million multi-player online gamers are increasingly familiar with buying and selling virtual online game assets.

 

To provide a trusted third party assist, transfer agents are required to facilitate moving items from sellers to buyers. This complicated process is operated by a combination of Application Programming Interfaces (API’s) and bots. Virtually all the open source software used in the industry was written by the OPSkins team. OPSkins, a pioneer in the online gaming industry, has developed the method for WAX to empower all key constituents of the ecosystem to earn more by expanding their ability to buy and sell online game assets.

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For example, a site attracts someone to list their item for sale, that site owner would get a share of the listing fee. Similarly, if a site attracts a buyer who ultimately buys an item, that site owner would get a share of the transaction fee. Many affiliates working with OPSkins today have already leveraged their participation into small virtual goods businesses. But that process is complicated, settlement takes more than 30 days, and there are problems with transaction verification and accounting. These and many not-yet-developed silos of activity will work independently and collectively to make the decentralized exchange work. OPSkins runs as a centralized mechanism, and by sort of “exploding those out” and atomizing them, we allow the whole ecosystem to grow, because everyone gets to play a role where they can provide value. Now rather than one market player many times larger than its nearest competitors, thousands of sites can all be just as significant without having to invest tens of millions of dollars in software development and hardware infrastructure.