The virtual item trading industry is fragmented across hundreds of competing marketplaces, each utilizing different business practices tailored for their region of the world. This creates territorial supply and demand imbalances.
The ideal solution to this problem is a global virtual item repository, accessible to anyone, that provides a complete catalog of all items available for sale in real time. Such a repository, when coupled with a reliable, low cost settlement network, will vastly improve price discovery and market liquidity thereby increasing market size.
WAX is a decentralized platform that enables anyone to operate a fully functioning virtual marketplace with zero investment in security, infrastructure, or payment processing. 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 and provides instant payments, security, and trust services that will bring millions of new participants into a growing ecosystem.
Based on blockchain technologies, WAX Tokens will enable 1.8 billion gamers worldwide to quickly and easily harness the power of a fully developed, highly complex virtual goods exchange that provides escrow, liquidity through access to a large number of buyers and sellers, and other complex parts of a well functioning marketplaces. By decentralizing these exchanges, vastly more trading in the already sizeable $50 billion video game virtual goods trading market is possible.