WAXP Coin

What is WAX?

WAX (Worldwide Aset Exchange) is a marketplace built on the world's greenest and most widely used blockchain platform. The aim is to make trading digital assets such as video games, NTFs, dApps (decentralized applications), virtual worlds and unique collectibles fast, easy and more secure through virtual currencies. This way, creators and brands can easily build, publish, and distribute NTFs to users around the world. WAX can be used by anyone, from established companies to small developers, and the WAX Blockchain is the all-in-one platform to start building on WAX. With powerful APIs and quick-launch smart contracts, these tools make it easy for developers to launch their NFTs on the marketplace and reach a large global audience

Features of WAX

Prevent Price Fluctuations

Products sold on the platform can use asset contracts linked to WAX. Cryptocurrency price movements are very unpredictable, and tying asset contracts to WAX provides users with a level of security.

Anti-Phishing Security

Players can freely buy and sell their digital goods instantly and securely through smart contracts.

High Liquidity

While the virtual items come from different games, they can be traded against pegged WAX or WAX tokens.

Low Cost

Lower costs and simpler payment methods allow both buyers and sellers to make more money from each transaction.

Huge Market Setup

WAX was built by OPSkins and has a weekly trading volume of over 2 million, a considerable number for an emerging market.

Operate a Virtual Market

WAX allows a large number of users to create their own virtual stores without investing any money in infrastructure, premises or building payment channels.

Game Market Monitoring

Joining a group for your favorite game will help you self-manage and monitor transactions specific to your favorite game or game server system and receive rewards for your participation if any server errors are detected.

Transfer Agent

You can become an agent in the platform by reviewing and promoting transactions, and WAX members can earn significant fees. The more fees you charge, the more money you have to use and access the entire ecosystem of the platform.

Appraiser

Long-time WAX players with extensive experience in any game can participate in the valuation and appraisal of items for sale on the platform. Those who receive good reviews, positive reviews, and multiple votes will receive certain rewards.

What is WAXP Coin?

WAXP Coin is the original token in the WAX system. It is used as a reward and payment method on the WAX platform. It can bet, exchange and purchase in-game items, pay for NFT transactions, vote, and is a bonus for contributors who develop WAX.

Pros and Cons of WAXP Coin

Pros

• The WAX platform has seen an increase in users along with increased trading volume and is considered the top platform in the NFT space.

• There are big brands and celebrities creating their own NFTs using WAX.

• Adopting the DPOS consensus mechanism, it is ecologically friendly and more energy-efficient than Bitcoin or Ethereum 1.0.

• The market is diverse and large, with many different partners.

• User friendly design and easy to use, it has a large number of visitors every day.

• One of the best features of WAX is its easy integration with WAX Cloud Wallet (WCW). This integration means access to WAX is even easier than similar decentralized blockchain platforms, including an easy way to perform account recovery.

• WAX also has a dedicated developer portal and provides support and initiatives to continuously expand its services.

• The NFT space is still in its early stages, and many investments and innovations will help capital flow into the market. Therefore, WAX and other NFT-centric tokens will have a lot of potential to grow. 

Cons

• Although the WAX project has received a fair amount of users and visitors, the value of the WAXP coin has not grown too significantly.

• The price fluctuates greatly and is greatly affected by the price of Bitcoin, resulting in greater investment risks.

• WAX is not the only platform currently providing an NFT market. Its competitors are also very heavyweight, such as OpenSea, Enjin, Decentraland, Rarible...

• The inability to trade on Coinbase is also a drawback to WAXP’s inability to grow its user base.

• The supply is not limited, so value cannot be added due to a scarce supply like Bitcoin.