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The WAX Token Public Main Sale has opened on Wednesday, November 15th to significant interest. Industry experts hail the WAX Token Sale as the “last big token sale of 2017”. WAX raised over $41 million in public and private pre-sales, and has already raised over $45,500,000 in its Main Sale at press time. This week’s announcements of partnerships with gaming payments giant Xsolla and Bancor Network put WAX Token steadily on the road towards large-scale adoption.
The Worldwide Asset eXchange (WAX), a new decentralized market based on the blockchain, will serve over 400 million video game asset traders globally. WAX is the brainchild of the founders of OPSkins.com – the largest virtual asset marketplace in the world. The project founders have a clear vision and roadmap for the project, based on an in-depth understanding of the industry and its demands. By bringing blockchain technology to the $50 billion digital items trading industry, hundreds of millions of gamers around the world will have a safe, easy and inexpensive platform on which to trade their digital in-game assets known as skins.
Earlier this week, WAX announced that the gaming payments giant Xsolla will begin accepting WAX Tokens as payment on gaming related platforms. “Partnering with Xsolla creates more demand for the WAX ecosystem,” says William Quigley, CEO, WAX. Xsolla is a global distributor and publisher of video games, providing its clients of game developers and publishers with advanced technical tools to optimize user acquisition and monetization efforts. Industry leaders like Twitch, Valve, and Ubisoft use Xsolla as do over 2,000 games. By accepting WAX Tokens, Xsolla will help bring the platform into the mainstream among the 400+ million strong gaming community.
Holders of WAX Token will be able to deposit their tokens to Xsolla to pay for in-game digital items. WAX’s near-immediate transaction speed, nominal fees, and smart-contract based functionality make it the ideal payments solution for users of gaming platforms since it’s specifically designed to benefit traders of digital items. “In our mission of creating a safe, fast and easy environment for gamers to enjoy the game, we are happy to support WAX’s vision of bringing decentralized peer-to- peer skins trading to the masses using cryptocurrency,” said Aleksandr Agapitov, CEO of Xsolla.
In addition to their partnership with Xsolla, WAX announced a much-anticipated integration with Bancor earlier this week. The announced collaboration with Bancor, capable of automatically calculating and converting any Ethereum token in a transaction, will provide continuous liquidity to the platform’s 400 million estimated users.
WAX token holders will now utilize the Bancor Network™ to automatically and directly convert their tokens to any other. This conversion will be possible using any Web3 wallet, such as MetaMask, for any trade volume, and on any exchange listing.
After WAX’s successful Token Sale, the exchange will activate a Token Relay™ involving up to 5% of its circulating token supply. WAX users will be able to purchase and sell WAX tokens at formulaically calculated prices directly from any Web3 wallet. WAX CEO William Quigley was delighted with the Bancor agreement, stating, “We anticipate having a huge community and a massive demand for the WAX token, so it absolutely makes sense for us to provide our users with an easy way to convert tokens. Partnering with Bancor will provide a level of liquidity that will allow access to everyone who wants to be a part WAX as we build our platform and revolutionize the gaming skins industry.”
Bancor integration provides WAX Tokens the same continuous liquidity enjoyed by tokens such as ETH, BNT (the Bancor Network Token™), GNO (Gnosis), STX (Stox), and a host of projects soon to be activated.
Bancor Protocol Co-Founder Galia Benartzi announced the network’s excitement at welcoming “such a promising end-user facing application.” Not only is the Bancor team comprised of avid gamers, but they also foresee WAX bringing “blockchain technology to a community which is primed and ready to work with cryptocurrencies, and tokenize value around their digital assets.”
WAX has already elicited significant demand in a crowded and noisy token sale market. In addition to the $41 million raised across public and private pre-sales, the project has received vocal support from a number of industry giants. Pantera Capital, Hyperchain Capital, Galaxy Investment Partners, Fenbushi Capital, Kenetic Capital and Kyber Network, to name but a few, have all expressed interest in this project. Industry thought leaders, such as Ethereum Co-Founder Anthony Di Iorio and legendary game developers Dave Anthony and Brian Fargo are active supporters of this project.