The growth of Worldwide Asset eXchange, a spread-out platform that encourages people to invest in the market of virtual game assets shows the impact of tokenizing game items using unique symbols. WAX will minimize transaction costs, develop markets for the game and also divide player profits from centralized markets. Tokenization assists in facilitating ownership of virtual assets, establishing a new economy that’s easily manageable, and one with the ability to grow into physical assets.
One of the main challenges in tokenizing assets has been establishing a way to monitor and also making sure the tokens along the block-chain stay connected to their asset. The multi-layered supremacy approach of WAX creates a regulatory control using token holders. The process of virtual asset exchange takes place through users accountable for items transfer, known as Transfer Agents; the supervisory group referred to as Guilds, rating systems, and an assigned consensus algorithm.
WAX inventions are developing a new network of assets that could not have exchanged previously. While virtual items trade successfully, the company will be strategically positioned to involve physical asset teams in their platform and develop increased services that ensure WAX tokens along the block-chain stay connected to their respective tangible items.
Malcolm CasSelle is the President of WAX and CIO of OPSkins, the most significant marketplace for selling and purchasing products from video games over the internet. Previously, Malcolm was the CTO and President of Tronc, a firm that manages rapid development resources controlling digital properties. He also worked in SeaChange Int’l as the GM of digital media. CasSelle has previously led countless startups in the numeric field such as Xfire, Groupon, and MediaPass.
Malcolm holds several degrees in Computer Science from Stanford University and MIT respectively. He is also a zealous investor in large firms such as Facebook, Zynga, and he also supports large data and other block-chain verticals. At the beginning of his career, CasSelle was a co-founder of PCCW, a telecom company based in Hong Kong valued at more than 35 billion dollars. Malcolm has assisted in raising billions of PCCW’s philanthropic activities and millions for other private corporations.