[ANN] WAX - Worldwide Asset eXchange by OPSkins

[AlexRej]

Okay, so I'm curious about a couple of things:

1. Why i can't read your whitepaper on the website? Was refreshing in for 10 times already, thinking maybe i had an internet issue. ICO without a WP? Really guys?
2. i find it pretty sad that you no one here seems to cate answering questions about why are you going to keep more 50% for yourself? What the trick? Do you want to actually manipulate the market after the sale?
3. Is there any kind of an official account of WAX here, so I can get an official answer? I see random people answering but the problem for  is that I'm not sure if I can account on their answers.

Thanks

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[danniel]

is there any bounty

[Sovper11]

Are there many rounds of the ICO?

[Vera Nov]

very interesting but i still confused about the project mission and i still don't know about your reason why you did not give ICO in this project, maybe you can explain about your reason

[CoinBaby27]

Why do you allocate only 35% of your tokens for sale? Some of your competitors sell more to investors

[InvestorForGamedev]

Hi DMakret Fan! Nice to see you in Bitcointalk as well:)

1) "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"

The "little" business OPSkins is the #1 digital marketplace in the world which is 10 times bigger than the closest competitor!
And in contrast to other coins WAX doesn't rely on publisher or platform integration/support. It doesn't require the use of a trade API. Any game from any platform or publisher that allows trading will be tradeable on WAX.

Sorry, I still don't get it. Skins are stocked on Valve servers. They own them both physically and legally. Let's imagine, I bought a skin on your platform, and you suddenly have been cut from Valve servers for some reason. How would I take away the skin in your opinion? Valve is just gonna say me 'sorry bro, you should have used our marketplace, not some third-party one'.

2) "why does your platform take so much time for development?"

There are a lot of problems that WAX is trying to solve by creating a platform. In contrast to other companies, WAX is not just creating another simplistic useless ERC20 Ethereum token.

The WAX Platform is designed to service the thousands of companies and power sellers already participating in the global digital item trading industry. WAX smart contracts track and pay out to all parties of an item trade — the settlement agents, affiliates, listing sites and any other parties that facilitate digital item trading. It’s a major improvement over existing centralized marketplaces and one that item trading facilitators will greatly appreciate.
WAX Tokens facilitate the settlement of WAX smart contracts. Smart contracts that enable millions of gamers to trade digital items. 400 million such gamers covet and trade popular digital gaming assets today and will need to own WAX tokens to take advantage of this important decentralized platform.

Okay, if not through API, how do you expect in-game items to be tradable within your platform? Again, let's imagine a situation. I'm a game developer who wants items from my game be tradable for your coin. What should I do?

[AlexRej]

Hello all, I've just stumble upon the thread on reddit claiming that WAX pre-sale has been extended. Is this true?

If yes, then what is the real reason behind such a move? Look pretty suspicious. Either the fellow redditor is right regarding the upcoming btc fork, or you didn't reach the figures you were expecting to get during the presale.
In any case: I think your investors should know what's going on and why you didn't stick to your timings.

Thank you for the answer.

UPD: checked your announcement on Medium. The reason you've mentioned still looks pretty weird, due to the fact that you were promoting yourselves for a month already.

[HomoHenning]

is there any bounty

There are currently no bounties available for this token sale.

no bountys? haha good luck with it. it will not work anyway

[ICOarray]

Comparison between DMarket and Worldwide Asset eXchange ICOs - https://icoarray.com/compare/dmarket-ico-vs-worldwide-asset-exchange-ico

[goodsboom]

this ico will be smoking hot 

[InvestorForGamedev]

So, what we have:
- They just transfer their platform onto blockchain, no innovations, just upgrade
- They completely rely on Steam, and if Valve changes its mind on third-party platforms, WAX will collapse at once
- Strange and shady changes of terms with no proper explication

WAX, do you even care about your reputation? Explain yourself.

[Liudmyla_Dorosh]

Comparison between DMarket and Worldwide Asset eXchange ICOs - https://icoarray.com/compare/dmarket-ico-vs-worldwide-asset-exchange-ico

Hi! I think your website should make at least some analysis before posting some random score. Promoting companies without even stating any of their advanteges will not bring you trust in the future.

And here are a few points that you "forgot" to use in your analysis, confirming why WAX is different in a number of very important ways:
 
1) It is from the team at OPSkins, the #1 marketplace in the world for buying and selling skins.
2) WAX will process a multi-billion dollar revenue stream already existing at OPSKins.
3) The creators of WAX are the creators of 2 multi-billion dollar centralized game item exchanges (Jonathan Yantis and John Brechisci, Jr.) and now aiming to build a massive decentralized exchange through WAX.
4) The creators of WAX have extensive crypto experience (Co-founder Tether, backers of first ICO Mastercoin, largest backers of Ethereum pre-ICO, early bitcoin miners, backers of numerous other crypto companies and funds).
5) WAX is designed to work with any game that has tradable items and does NOT rely upon publisher integration (integration which can take years to come to fruition).
6) DMarket are not significant players in the skins trading market at all and they don't have extensive crypto expertise. Their coin in useless and simplistic ERC-20 tokens without any intelligence backed into it. And the WAX platform is a SMART CONTRACT based decentralized marketplace.

Here is a video that goes into this: https://youtu.be/EeABE4Ur6fA
 

[Liudmyla_Dorosh]

So, what we have:
- They just transfer their platform onto blockchain, no innovations, just upgrade
- They completely rely on Steam, and if Valve changes its mind on third-party platforms, WAX will collapse at once
- Strange and shady changes of terms with no proper explication

WAX, do you even care about your reputation? Explain yourself.

Please find below answers to your questions:

1) They just transfer their platform onto blockchain, no innovations, just upgrade

Answer: The WAX Platform will allow millions of traders to create their own virtual stores on one decentralized platform. No other company is doing this. The WAX Platform unites everyone and provides instant payments, security, and trust services that will bring millions of new participants into a growing ecosystem.
Based on blockchain technologies, WAX Tokens will enable 1.8 billion gamers worldwide to quickly and easily harness the power of a fully developed, highly complex virtual goods exchange that provides escrow, liquidity through access to a large number of buyers and sellers, and other complex parts of a well functioning marketplaces. By decentralizing these exchanges, vastly more trading in the already sizeable $50 billion video game virtual goods trading market is possible.

2) They completely rely on Steam, and if Valve changes its mind on third-party platforms, WAX will collapse at once

Answer: WAX is not requiring publisher integration. And keep in mind, WAX can facilitate the trading of any digital item, whether it be web based or mobile. WAX is designed to serve the entire video gaming and digital asset trading ecosystem.
And regarding the "third-party platform": OPSkins is the #1 digital marketplace in the world which is 10 times bigger than the closest competitor!

3) Strange and shady changes of terms with no proper explication

Answer: WAX team did not make the decision to move this deadline lightly and we're really sorry for any inconveniences it caused. When it was decided,  the announcements was made as quickly as possible. Nevertheless many video gamers - the core audience we are aiming for - as part of the token sale. Since many of these individuals are first time crypto currency adopters, it has understandably taken more time for them to get educated about WAX. In our judgement, it was better to give this core community more time to participate.

Read detail in the blog post: https://medium.com/waxtoken/the-pre-sale-and-gamer-sale-dates-have-been-extended-d2f13689c856
More answers in reddit AMA with William Quigley (CEO) and Malcolm CasSelle (President): https://www.reddit.com/r/WAXtoken/comments/7a4gzg/the_wax_ama_with_william_quigley_ceo_and_malcolm/

The updated information is provided in White Paper as well.

4) Skins are stocked on Valve servers. They own them both physically and legally. Let's imagine, I bought a skin on your platform, and you suddenly have been cut from Valve servers for some reason. How would I take away the skin in your opinion? Valve is just gonna say me 'sorry bro, you should have used our marketplace'.

Answer: Please read 2. Please also keep in mind that WAX platform is a marketplace and not the owner of the skins (like Amazon is not the owner of all the items that are traded there). Transfer agents are responsible for the transfer of values between users in the games.
I'd like to state it once again, any game from any platform or publisher that allows trading will be tradeable on WAX.

5) How do you expect in-game items to be tradable within your platform? Again, let's imagine a situation. I'm a game developer who wants items from my game be tradable for your coin. What should I do?

Answer: The game should be interesting to the audience. Anyone can submit a proposal for a guild spot, and WAX Token holders will vote for them based on what they see in their proposals. Token holders can only vote for so many, and since the WAX token holders make a cut off guild fees, it's in their best interest to vote for the most trusted ones. Guilds receive a percentage of the fees on lists, transfers, and Contracts and as a WAX Token holder you can pledge these guilds - in turn earning a percentage of the earned guild fees (see the sections Guilds in white paper for more details).

[Liudmyla_Dorosh]

I would like to know how the changing value of the tokens will affect the price of items for sale. What if I have a car as in-game item that I want to sell and set a price of $100 for the car. The buyer purchases $100 worth of wax tokens  but the market price drops 50% before he purchases that car. I am not protected, as  the selling price of the item drop as well. Also, the buyer now only has half the tokens needed since the price changed. Then the buyer can buy the car for half price and the I will lose. Either way, the fluctuations will affect either the buyer or seller. If another company creates the same thing without using a volitile currency, gamers may feel much safer using that and game developers should understand this as well. So I just want to know if the team agrees that there will be loss of value to either party if the price drops and if so, why they believe that Cryptocurrency is the best option for the users if they would have a choice to use your platform or another platform that either doesn't use cryptocurrency.

Hi! You're absolutely correct with your example, and no-one would like to see such a loses. WAX  team has pegged asset contracts that manage volatility in a way that no other token does. The concept of WAX pegged asset contracts is similar to how CS:GO skins are sometimes priced based on the value of their items in relation to the price of CS:GO keys. A WAX pegged asset contract could be USD, EUR, BTC, ETH, CS:GO Keys, or many other things.

Price fluctuations of any amount will exist whenever an item that’s worth a fixed amount is transacted with a market-driven currency. If you list an item for sale for .5 BTC when the price of BTC is $6,000 USD, and BTC drops 10% before someone buys your item, you just sold a $3k item for $2,700. Well that sucks. You can take the chance that it's going to go up that 10%, but then who would want to buy a $3k item for $3300? Your item won't sell or the buyer will get ripped off.
WAX pegged asset contracts are temporary smart-contracts that exist only during the life of a particular transaction, so using the above example it would be the time from when the item is listed for sale and when it’s purchased.

[bony12]

I would like to know how the changing value of the tokens will affect the price of items for sale. What if I have a car as in-game item that I want to sell and set a price of $100 for the car. The buyer purchases $100 worth of wax tokens  but the market price drops 50% before he purchases that car. I am not protected, as  the selling price of the item drop as well. Also, the buyer now only has half the tokens needed since the price changed. Then the buyer can buy the car for half price and the I will lose. Either way, the fluctuations will affect either the buyer or seller. If another company creates the same thing without using a volitile currency, gamers may feel much safer using that and game developers should understand this as well. So I just want to know if the team agrees that there will be loss of value to either party if the price drops and if so, why they believe that Cryptocurrency is the best option for the users if they would have a choice to use your platform or another platform that either doesn't use cryptocurrency.

Hi! You're absolutely correct with your example, and no-one would like to see such a loses. WAX  team has pegged asset contracts that manage volatility in a way that no other token does. The concept of WAX pegged asset contracts is similar to how CS:GO skins are sometimes priced based on the value of their items in relation to the price of CS:GO keys. A WAX pegged asset contract could be USD, EUR, BTC, ETH, CS:GO Keys, or many other things.

Price fluctuations of any amount will exist whenever an item that’s worth a fixed amount is transacted with a market-driven currency. If you list an item for sale for .5 BTC when the price of BTC is $6,000 USD, and BTC drops 10% before someone buys your item, you just sold a $3k item for $2,700. Well that sucks. You can take the chance that it's going to go up that 10%, but then who would want to buy a $3k item for $3300? Your item won't sell or the buyer will get ripped off.
WAX pegged asset contracts are temporary smart-contracts that exist only during the life of a particular transaction, so using the above example it would be the time from when the item is listed for sale and when it’s purchased.

Hey there! And what if I'd like to purchase in-game item for fiat? Smart-contracts will no longer peg my asset. In this case, traditional market laws will take effect. How can I reinsure myself from rate fluctuations since in future I do not want to sell the item for less price than the one it has been bought for?

[ICObazaar]

Hey WAX community,
From now, you have a chance to review this ICO and earn crypto!

We value your opinion and are ready to reward you for it!

We’re now offering all users a chance to review upcoming ICOs on our platform for a chance to earn some crypto. This approach will be helpful for the project team, as they can hear some feedback from the audience

What you need to know:
—The top 5 reviewers will receive rewards in ETH
—1st place review is selected by ICObazaar (reward=0.1ETH)
—2nd-5th place rewards are given to the reviews with the highest # of upvotes from other users (reward=0.4 ETH, split among the 4 winners proportionally according to # of upvotes)
—Reviewing for upcoming ICOs is open up until the day the ICO launches.

Here’s how it works:
1. Register on icobazaar.com
2. Review an upcoming ICO on our platform — reviews are located on every ICO page under upcoming ICOs, here is WAX page
3. Hopefully be one of the top 5 reviewers

See you there !

[CryptoAnna]

I would like to know how the changing value of the tokens will affect the price of items for sale. What if I have a car as in-game item that I want to sell and set a price of $100 for the car. The buyer purchases $100 worth of wax tokens  but the market price drops 50% before he purchases that car. I am not protected, as  the selling price of the item drop as well. Also, the buyer now only has half the tokens needed since the price changed. Then the buyer can buy the car for half price and the I will lose. Either way, the fluctuations will affect either the buyer or seller. If another company creates the same thing without using a volitile currency, gamers may feel much safer using that and game developers should understand this as well. So I just want to know if the team agrees that there will be loss of value to either party if the price drops and if so, why they believe that Cryptocurrency is the best option for the users if they would have a choice to use your platform or another platform that either doesn't use cryptocurrency.

Hi! You're absolutely correct with your example, and no-one would like to see such a loses. WAX  team has pegged asset contracts that manage volatility in a way that no other token does. The concept of WAX pegged asset contracts is similar to how CS:GO skins are sometimes priced based on the value of their items in relation to the price of CS:GO keys. A WAX pegged asset contract could be USD, EUR, BTC, ETH, CS:GO Keys, or many other things.

Price fluctuations of any amount will exist whenever an item that’s worth a fixed amount is transacted with a market-driven currency. If you list an item for sale for .5 BTC when the price of BTC is $6,000 USD, and BTC drops 10% before someone buys your item, you just sold a $3k item for $2,700. Well that sucks. You can take the chance that it's going to go up that 10%, but then who would want to buy a $3k item for $3300? Your item won't sell or the buyer will get ripped off.
WAX pegged asset contracts are temporary smart-contracts that exist only during the life of a particular transaction, so using the above example it would be the time from when the item is listed for sale and when it’s purchased.

Hey there! And what if I'd like to purchase in-game item for fiat? Smart-contracts will no longer peg my asset. In this case, traditional market laws will take effect. How can I reinsure myself from rate fluctuations since in future I do not want to sell the item for less price than the one it has been bought for?

The WAX platform will give you an option to peg your item to fiat as well.

[Bit_Happy]

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
Telegram Announcement Channel:  https://t.me/waxtokenannoucements
Official Discord:  https://discord.gg/CT32jBR 
Read our blog post on Medium: https://medium.com/waxtoken
Follow up on Facebook: https://www.facebook.com/waxtoken/
Follow up on Twitter: https://twitter.com/waxtoken
Follow up on Youtube: https://www.youtube.com/channel/waxtoken

Hilarious! 
Almost everyone (early on) is/was asking about bounties without understanding your project is so good you do not need to compete "like everyone else" tries too.
Congrats on a great looking project.

[InvestorForGamedev]

Ok, thank you. Though your answers have cleared something up, more questions have appeared in my head. I hope, you understand that investments are not made with the light head, and I want to fully understand how your platform works before I invest in it.

4) Skins are stocked on Valve servers. They own them both physically and legally. Let's imagine, I bought a skin on your platform, and you suddenly have been cut from Valve servers for some reason. How would I take away the skin in your opinion? Valve is just gonna say me 'sorry bro, you should have used our marketplace'.

Answer: Please read 2. Please also keep in mind that WAX platform is a marketplace and not the owner of the skins (like Amazon is not the owner of all the items that are traded there). Transfer agents are responsible for the transfer of values between users in the games.
I'd like to state it once again, any game from any platform or publisher that allows trading will be tradeable on WAX.

Ok, let's go through it step-by-step.

1. Are skins from CS:GO will be tradable on WAX?
2. If so, what is your plan, if Valve suddenly decides to cut off your access to their API? Yes, for now, they are ok with you, but they can change their mind.

5) How do you expect in-game items to be tradable within your platform? Again, let's imagine a situation. I'm a game developer who wants items from my game be tradable for your coin. What should I do?

Answer: The game should be interesting to the audience. Anyone can submit a proposal for a guild spot, and WAX Token holders will vote for them based on what they see in their proposals. Token holders can only vote for so many, and since the WAX token holders make a cut off guild fees, it's in their best interest to vote for the most trusted ones. Guilds receive a percentage of the fees on lists, transfers, and Contracts and as a WAX Token holder, you can pledge these guilds - in turn earning a percentage of the earned guild fees (see the sections Guilds in white paper for more details).

Again, my main concern is Steam. I simply do not believe that they are willing to ignore this exploding market of the virtual goods. What if they make developer choose: whether they are on Steam and sell their items only on Steam Marketplace, or they are on the third-party platform. Whatever your market share is, you are only third-party service for Steam itself and companies that sell their games on Steam.

[truerue]

Hi, what is the ETH address for token sale?
You're claiming 135k eth contributed, but how can it be audited if every contributor receives unic deposit address?