Loot boxes, competitive gaming, and professional gaming have brought real value to the items in certain video games. Games like PUBG, CS:GO, and H1Z1 can have items that sell for hundreds, sometimes thousands of dollars. Rare and limited items are brought into the game via special events and limited promotions. These items go for a lot of money but trading these items is the problem.
OPSkins was the first company to tackle this problem. They set up shop, purchasing items from gamers and selling them to other gamers. Just like any other business, they purchased low and sold high, making profit and operating as usual. The future holds many changes, and blockchain is one of the most apparent upcoming changes. Malcolm CasSelle, of OPSkins, recognized this. That’s why he started WAX – a blockchain fueled decentralized marketplace.
Where as OPSkins is only able to trade items from certain games – games that are popular – WAX is able to accommodate gamers of every game. WAX, as a network, is merely the middle man. Gamers will have to use their WAX tokens to participate, but this means gamers can sell items from any game they like.
This is truly revolutionary for the gaming community.
Blockchain has two major advantages. It solves the problems of fraud and record keeping all at once. Blockchain, due to its wide-spread nature, means it is nearly impenetrable by hackers. Unlike public forums, you will never find a fraudulent seller on WAX.
WAX also disrupts the language barrier because it accepts all type of currencies. Gamers from one side of the world can trade an item with someone on the other side of the world, despite not using the same currency or speaking the same language.
About Malcolm CasSelle
Malcolm CasSelle attend MIT and Stanford, gaining the knowledge he needed to thrive as a entrepreneur. Early in his career, he invested in Facebook and Zynga. He is now involved in many bitcoin related investments.
Malcolm CasSelle’s previous companies include tronc, SeaChange International, Xfire, and PCCW.
Find out more about Malcolm CasSelle: https://twitter.com/malcolmcasselle?lang=en