[ANN] WAX - Worldwide Asset eXchange by OPSkins

[Financisto]

Hello everyone,

We have just launched getonChain, and WAX token was our first review. We thrive on providing well-balanced technical review, please find it here: https://getonchain.com/article/comprehensive-review-worldwide-asset-exchange-(wax)-platform/, we would love to have your inputs!

Regards,
Ratul

Excellent review, thank you Ratul!

BTW It'd be very interesting if someone from WAX answered those few points that you mentioned in your review:

It is unclear how the guild selects and monitors a transfer agent, although this is supposedly part of the proposal of the guild.

While poorly rated agents are in risk of removal of their duty, it is unclear how the removal process is executed and by whom, the users or the guilds, or both. It is also not clear if the rating system is voluntary, or what is the incentivization of such rating system (other than being good samaritan in the network). We would also be interested to know whether rating capability is proportional to the volume of settlements from the user, or is also affected by the number of tokens held by the user.

The verification of code quality and the responsibility in such incidents is a serious low-level issue, and we wish to know more about how WAX plans to tackle them.

Another curious case would be to see how a 51% attack is avoided in such a system. To achieve 51% of the set of guilds, an entity have to get 33 (>64⁄2) guilds elected. Since selecting guilds is proportional to the cumulative tokens of the users, the entity needs to have around 33% of the WAX tokens, less than, say the amount WAX founders and advisors possess. The implications of a 51% attack in the network is dependent on the implementation details, which is yet to be seen.

The whitepaper does not do justice to the technical details, nor did they release any technical paper at this point.

I think an additional "yellow paper" would be interesting at this stage of affairs...

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[frankkkkkkk]

It looks like that there is no bounty programs here. That is not a nice news for the bounty hunters.It's not good for publicity.

[pusaka]

how much supply token of this project?
and I do not see in OP for the roadmap. its better to post in op about that. good luck your project.

[InvestorForGamedev]

Hello. Why is it so quiet here? Is this a place where I can get proper answers to my questions? This is already worrying a bit.

Anyway, what's even more concerning is the business model of this project. I mean, really your whole idea built on the assumption that Valve is not going to interfere with you little business on actually their items like skins or whatever. Let's imagine that eventually Gabe will cut you off of the Steam API. What then? Do you have like 'plan B'?

I'm kinda a game developer myself (besides of being a cryptoenthusiast) and I know what it means to you if you do not get along with those guys. You better not do this.

So, my question is being ignored. Good start, folks. The more I see, the less I'm willing to invest in this ICO.

I would like to know the answer to my first question as well as to this one: why does your platform take so much time for development? You have your OPskins, and WAX is not so different from it, it targets the same audience and have the same functionality. You need like 3 or 4 months to create something like this, not like a year to launch the final product. On the other hand, DMarket platform mentioned by you is growing much faster, they are showing alpha next week already!!! btw, thank you for mentioning this project, don't know how I wasn't aware of it, looks pretty ambitious.

[Sozialtourist]

What is the total hard cap for the token sale?

Hi! The total hardtop is 210 017,28 ETH, including:
1) 70 000 ETH are already raised from the institutional contributors;
2) 70 000 ETH from the public pre-sale which is now Live;
3) 70 017,28 ETH from the main sale.

During the first week of the main sale (from October 24th until October 31st 1st) verified gamers only will have priority in terms of contribution. You can qualify as a ‘gamer’ if you hold both an OPSkins account and a Steam account.

why ico duration is so short
not a hardcap so large requires substantial funds when the duration of short ico and hardcap high

How much did you already get in the pre-sale?

[blendercross]

Hi all, 
I'm with you guys.
I think that you have an excellent company.

[Liudmyla_Dorosh]

Hey guys, pls tell, does this kind of project have competitors?

Hi! The WAX team is full of industry veterans, and WAX knows it will not be seamless. That said WAX will do an incredible job and have proven so with OPSkins. No other team in the world knows more about or has more experience with virtual trading items than the WAX team. The WAX founders and the team also have been heavily involved in blockchain development and funding since the beginning. The customer experience, once launched, will be smooth and exceptional as is expected of the market leaders.



In the internet you could find the comparison with a few other coins, so I'd like to tell you also some basic differences of that coins with WAX tokens:

How is WAX different from Enjin?
Enjin is a tool set for game publishers to create and manage virtual goods. WAX is decentralized marketplaces to buy and sell virtual goods. WAX powers the secondary marketplace of game items, not game publishers creating items.

How is WAX Different from Unikorn?
Unikorn is a reward system for legal, licensed betting on esports, and events surrounding video gaming. WAX is not involved in betting or gambling.

How is WAX Token different from DMarket?
DMarket relies on direct API integration with game publishers. WAX will not require this. WAX will be designed to provide the power of OPSkins to the broadest possible audience of gamers through decentralized marketplaces.

How is WAX Different from Gameflip?
Gameflip is a tiny business that traffics in stolen game keys.  It is an irrelevant company.  The team has ZERO credibility in the blockchain space. They are building a skinned version of a bitcoin. A useless coin.

I hope it answered your question!

[Karfarov]

I'm thinking of investing in WAX, but I would like to know how are the negotiation with the developers going on? With whom have you already signed contracts with and with whom are you negotiating right now? Are there any results at all?

Why is my question being ignored?
How do you expect to attract new investors by ignoring their questions? You don't even have a chat where people can communicate and answer questions.

Hi! The WAX management and developers team is the same team as behind OPSkins Marketplace, which is the #1 digital marketplace in the world. WAX will be the third global marketplace built by the OPSkins team, which is particularly impressive when you consider that their first two global marketplaces became #1 in their respective categories.

The co-founders of OPSkins and WAX — William Quigley and Jonathan Yantis are also legendary in the [Suspicious link removed]munity.

WAX Team has also already announced the impressive advisory board, including:
1) Anthony Di Iorio, co-founder of Ethereum, joins WAX with a mastery of blockchain technology
2) Dave Anthony, a creator and developer behind Call of Duty , will bring his creative and logistical expertise to OPSkins and WAX.
3) Brian Fargo, founder of Interplay Entertainment and inXile Entertainment, will add a deep understanding of game development and distribution.

Please find more information in the next blog post: https://medium.com/waxtoken/press-release-wax-announces-advisory-board-partners-to-expand-blockchain-platform-for-in-game-abb8a787f81f

I asked what game developers are you negotiating with while you are talking of the dudes whom i never heard of. I wanted to know and probably so do many other people here with whom have you signed contract with and what games support you now? i mean officialy, so that we could check

[TheCoat]

Hi there. Sot basically wax is going to trade items that can already be traded, you just making a place where all of them can be sold? Why it's going to be popular and is it even needed?

[blackbold]

no details information?? from the banner this project looks promising. the details information is needed especially the tokensale info.

[CryptoAnna]

Hi there. Sot basically wax is going to trade items that can already be traded, you just making a place where all of them can be sold? Why it's going to be popular and is it even needed?

As we've stated previously, the in-game item trading market is already a $50 billion market. The WAX project is founded by the team behind OPSkins, the world's biggest platform for trading in-game items. The team sees a huge potential in this market, but severe hinderances in it due to centralization. Notably, WAX will allow the in-game item trading market to enjoy increased liquidity and will bring out many disjointed sellers out of silos. WAX will spell the end of a whole host of worries and inconveniences, giving fans of virtual items more freedom to trade with anyone anywhere in the world along with the promise of blockchain level safety when buying or selling. These never before possible WAX capabilities will usher in huge group of video gamers who have heretofore limited their item trading to the relatively small community of people they know and trust. More people trading using superior settlement and payment options means a deeper, more transparent and better functioning global market. Making buyers and sellers both economically better off.

Malcolm CasSelle, the President of WAX, recently wrote a post on why WAX needs its own protocol and blockchain. It deals with issues of increased liquidity, simpler microtransactions and better understanding the market in more detail than I can provide here.

[Mr_D-E-N]

And how does your coin differ from the already trading coins in the market? SkinCoin. exchange.skincoin.org. It also gets into the game platform and is already traded in skins.

[CryptoAnna]

And how does your coin differ from the already trading coins in the market? SkinCoin. exchange.skincoin.org. It also gets into the game platform and is already traded in skins.

There are many reasons why WAX is the definitive coin for in-game item trading. For a start, it's built by the team who practically created the whole in-game item trading industry. The WAX team is the same team behind OPSkins Marketplace, which is the #1 digital marketplace in the world. WAX will be the third global marketplace built by the OPSkins team. OPSkins has been accepting bitcoin for more than two years, and after they built their own bitcoin payment processing platform, OPSkins became one of the top five largest e-commerce sites globally for accepting bitcoin. Their millions of customers already like and use cryptocurrency, and will naturally adopt WAX since it will serve as a lower cost and easier settlement method than what they’re accustomed to using on OPSkins. Furthermore, WAX is supported by gaming industry leaders. Notably, Dave Anthony, The Founder of Call of Duty, has publicly voiced his support for WAX.

In addition to an impressive team, WAX has a number of features which will ensure widespread adoption and continued use, derived from expertise and a deep understanding of the market. You can read "What sets WAX apart from other tokens" on Medium for a full overview of these features. 

[Liudmyla_Dorosh]

And how does your coin differ from the already trading coins in the market? SkinCoin. exchange.skincoin.org. It also gets into the game platform and is already traded in skins.

Hi! SkinCoin is a literally re skinned bitcoin. It doesn’t actually do anything different. It's a useless coin because it's not adding any value to the ecosystem. The final product has no intelligence baked into it.

The WAX platform is a SMART CONTRACT based decentralized marketplace to facilitate friction free buying and selling of virtual items. 

[Mr_D-E-N]

On which exchanges is it planned to trade this coin? With whom were the negotiations on this?

[CryptoAnna]

UPDATES FROM THE WAX TEAM

The FINAL AMA with the WAX team is coming up on November 1st! Subscribe to the WAX Token subreddit here and get your questions ready. The subreddit is also a great alternative platform for community-based discussion.

WAX has announced a partnership with Kyber Network! -- KyberNetwork CEO and co-founder Loi Luu said: “the partnership will benefit both parties as KyberNetwork will have access to millions of users in both OPSkins and WAX platform. On the other hand, KyberNetwork can enhance the magnitude of the growth in the gaming asset market by allowing more crypto users to conveniently purchase their favourite game items using their crypto tokens.”

How can the blockchain help gaming companies 10x their revenue? -- a new, comprehensive article by the WAX team, outlining the problems within the gaming industry and how WAX will help to solve them.

Dave Anthony, The Founder of Call of Duty is Excited about the Gaming Blockchain -- Support for WAX from industry heavyweights!

What Sets WAX Apart From Other Tokens? -- Many are wondering this. There are at least 5 important reasons the team can list.

Watch William Quigley, CEO of WAX and OPSkins, present his Keynote Speech at the CoinAgenda 2017 Conference.


The WAX Explainer Video is now available in Russian, Spanish , German, French, Japanese, Korean, Chinese, and Arabic! Check them out!

[Karfarov]

Is WAX using a private or a public blockchain? DO you have a bounty program and what will happen to non-sold tokens?

[CoinBaby27]

Hello!
As I know, there were many ICOs where the coins price has failed as soon as they have launched on exchange.
Sad, but that's reality. When are you planning to launch exchange and how can we be sure that the price does not fall down?

[backstreetboy6]

The WAX public token presale is opened on October 18th, 2017 and will run until October 31st, 2017.
The maximum cap on the public pre-sale is 70,000 ETH.

We?re very proud to announce that our private pre-sale was extremely successful​. We quickly hit our 70,000 ETH cap!

The gamer exclusive main sale will open on October 24th 2017 and run until October 31st.
The main token sale will open on November 1st 2017 and run until November 8th 2017. 
The cap for the main sale is 70,017.12

You?ll get 300 WAX Tokens for each 1 ETH paid on the pre-sale. While on the main sale the price will start at 300 WAX Tokens for 1 ETH and increase 11 times (adjusting after each increment of 1.25 million WAX Tokens sold) to end at 150 WAX Tokens for 1 ETH.

The cap for the pre-sale is 140 000 ETH (including 70 000 ETH already collected from the institutional contributors).
The cap on the main sale is equal to 70 017.28 ETH.
We?d highly appreciate if you join our Telegram Channel: https://t.me/waxtoken
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can you please guide us to the contract address , showing that the 70k  ETH carp got hit
the quietness of the thread is making it look too good to be true

no offense though! but m concerned where m i investing.

[TheCoat]

What happened to your website? Why can't I ready Whitepaper nor Onepager, buttons just lead to your main page. Is that some kind of joke or ima visiting scam link? trying to use https://www.waxtoken.com