What is Worldwide Asset eXchange?

Worldwide Asset eXchange is a blockchain-based platform specifically designed for trading Non-Fungible Tokens (NFTs) and other game assets from a plethora of Player-to-Earn (P2E) gaming environments. Initially conceptualized to support e-commerce, WAX later tailored its focus to P2E gaming and NFT niches, emerging as a vast marketplace for gaming assets.

Who created the Worldwide Asset eXchange?

The brainchild of John Brechisci, Jonathan Yantis, William Quigley, and Brent Cohen, WAX was first established in 2015 as OPSkins, an online marketplace for gaming asset trade. The founders then transitioned the concept to a blockchain environment in 2017, leading to the official launch of WAX in July 2019. Built on the base of EOS (EOS) chain, WAX maintains backward compatibility, allowing for smooth porting of decentralized applications (dApps) developed and used on EOS.

What is $WAXP used for?

The native cryptocurrency of WAX is known as $WAXP, playing a critical role in facilitating all NFT asset trading on the platform. The token is used for payments, both for assets and store creation, making it a valuable asset for NFT or blockchain gaming enthusiasts. As one of the top ten P2E cryptocurrencies by market cap, WAXP stands as one of the largest P2E-related blockchain coins.

The WAXP token model is built around the principles of staking, rewards, and voting, encouraging community participation and ecosystem growth. WAXP Staking Rewards enable token holders to vote on the WAX Blockchain and earn rewards for their participation. The platform also employs a Delegated Proof of Stake (DPoS) decentralized consensus algorithm to enhance the performance of applications on the blockchain and incentivize honesty within WAX Guilds. The staking and reward mechanisms work together to facilitate no-fee transactions, enhancing the overall user experience.