WAX Research Hub | WAXP information, history and analysis

WAX (Worldwide Asset Exchange) is a decentralized trading platform that allows users to trade virtual assets in online games. WAX‘s goal is to be a global peer-to-peer marketplace that provides secure and convenient solutions to create, buy, sell, and trade virtual items for anyone, anywhere in the world.

Wax was officially launched in 2017 by William Quigley, CEO of Cashel Enterprises and co-founder of numerous crypto companies, including Tether and GoCoin. Known as the “King of NFTs“, WAX is attracting more and more attention from investors and promises to bring a lot of development potential in the future.

WAX token (WAXP) is a utility token in the WAX ​​ecosystem. WAX tokens were first issued under the ERC20 standard on Ethereum. However, now WAX is taking place on the mainnet and allowing users to swap from ERC-20 to native tokens operating on the WAX blockchain. WAXP is used for the following purposes:

• Used as a currency to trade NFTs, virtual items.
• Used as a gas fee inside the network.
• Used to reward participants for validating and creating blocks in the blockchain.