Worldwide Asset eXchange (WAX) is a platform powered by a decentralized blockchain, enabling anyone to set up a virtual marketplace for gaming items. It serves gamers with an online way to trade NFTs from games into a range of widely used cryptocurrencies. The primary assets traded on this exchange are items from online games and WAXP coins. WAXP is designed for settlements between gamers on the platform and is issued on the Ethereum blockchain. You can view the current price of WAXP on this page. In the Markets tab, you can see which exchanges have already listed WAX and which WAXP trading pairs are available, along with WAXP prices.

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

A core capability of WAX is trading non-fungible NFT tokens within its ecosystem. The process can use the WAX ​​Random Number Generator. WAX RNG is WAX’s native blockchain service, built to output unbiased random numbers for individual users. In addition, smart contracts can be created using WAX RNG.

The WAX platform’s main purpose can be outlined like this:

These functions are available to any gamer as long as their games are compatible with the exchange. 

What makes WAX noteworthy?

Gaming is one of the fastest-growing industries. WAX helps lower transaction costs and enables game asset marketplaces where exchanging assets previously wasn’t possible. Tokenization also makes it possible for holders of virtual items to move those assets into physical forms. The project’s main strengths are the blockchain and smart contracts, which aim to make virtual asset exchange safe, fast, and available globally. With an NFT-first approach, the blockchain supports people in creating or updating games, dApps, marketplaces, and more. It provides the tools needed to launch an NFT collection.

Another standout aspect is its Proof of Stake (DPoS) setup, which removes the requirement for powerful hardware to mint new tokens. As a result, the network is presented as more environmentally friendly, described as 66,454 times more energy-efficient than Bitcoin.

What can WAX be used for?

The WAX project enhances how sellers and buyers of a particular game object interact. Smart contracts handle transaction security for both sides. It also eliminates currency conversion expenses and helps avoid high payment processing fees, among other advantages. Practically, this can mean sellers may receive more for their assets, while buyers may spend less.

Beyond supporting smoother, cheaper transactions between players, non-gamers can also choose to invest in the WAX token.