The Worldwide Asset eXchange (WAX) is a decentralized portfolio designed to equip everyone with the necessities for participating in the vast marketplace for virtual game assets. While reducing transaction costs, WAX is a clear demonstration of a successful tokenization of in-game items. The company targets to create a convenient marketplace for games which were previously unable to transfer assets. The player is assured of fractionalized profits from centralized exchanges. With this system, ownership of virtual assets creates a platform of new and easily accessible economy while still giving one an opportunity to expand into physical assets.
Virtual asset bonds and the WAX token are safeguarded through a multi-layered governance approach. This system creates a regulatory oversight controlled by individual token holders. The process is conducted with the help of users involved with transferring items, the Transfer Agents. In place are supervisory committees, guilds, and rating system with the incorporation of a delegated proof system handling stake consensus algorithm. In the occurrence of a failure of duty by Transfer Agents, the affected Guild’s reputation will be at stake. Similarly, Transfer Agents and token holders have the power not to re-elect a Guild who underperforms. With these measures in place, every individual plays their role aptly to ensure minimal inconveniencing to their associates.
About Malcolm CasSelle
Malcolm is an alumnus of MIT where he earned a degree in Computer science before joining Stanford University for a master’s degree on the same. CasSelle is the current president of the Worldwide Asset eXchange (WAX) and holds the position of CIO at OPSkins, a leading online market for buying and selling of video games. Prior to this, Malcolm was the CTO and president of Tronc where he oversaw magnificent property growth leveraging digital assets. He also worked at SeaChange Int’l as SVP & GM of digital media. The company had just acquired Timeline Labs, his company, which provided solution s to firms that had difficulties in discovering content based on social signaling.
Besides that, Malcolm CasSelle is an active investor in major companies including Zynga and Facebook, while still funding blockchain verticals and big data. In the early stages of his career, Malcolm co-founded PCCW; Hong Kong-based public traded telecom. The company attained a value of over $35 billion. Throughout his career, CasSelle has helped in the raising of PCCW’s public offering while equally supporting private transactions.