What is WAX?

We’ve already interviewed Octopus WAX pool manager (available at octopuscc.medium.com/dca2b566c9c2). Now it’s time to talk about Worldwide Asset eXchange, the platform that the pool focuses on.

This project aims to create a cryptocurrency that will help gamers in their quest to simplify and secure transactions relating to NFTs from the virtual worlds of those or other game projects. The name of the cryptocurrency of the project — WAX.

The project has a full name — Worldwide Asset eXchange. The platform of this currency — a decentralized system, which allows you to exchange NFTs from the games to the cryptocurrency. Essentially, it creates a specialized exchange where objects from online games and coin WAX are traded.

NFT

The main asset traded on WAX are non-exchangeable tokens. Many major game companies such as deadmau5, Atari, Topps, William Shatner, Capcom and others are launching their NFTs on the WAX platform. The platform itself calls itself “The King of NFTs”. It’s partly true, because WAX is a safe and convenient way to create, buy, sell and exchange NFTs.

The platform gives you advanced functionality for NFT trading. You can create your own stores on it, which allows you to increase the liquidity of your investments. Stacking is another way to make money on the platform. Also, appraisers who are familiar with the market can conduct expert appraisals of assets and get paid for it.

WAX Protocol Token

The internal currency of this project is traded on major exchanges such as Huobi Global, Bittrex, Bithumb and others. Given the steady trend of growth in demand for NFT, we can say that the project’s token is a promising asset for investment. After all, in order to buy NFT on WAX, the user must first purchase a sufficient number of project tokens.

We can also consider the global situation of the token from the perspective of technical analysis. On the 1 week timeframe, you can see that the price is consolidating within the broad sidewall it entered after a strong and general crypto hype in 2018. Now that the token has strong fundamental reasons for growth, as well as given the overall cryptocurrency market conditions, I expect a break out of the sidewall and a rise in price.

Conclusion

Worldwide Asset eXchange is undoubtedly a strong player in the NFT market. Non-exchangeable tokens will only grow in popularity in 2021. WAX will be one of the main beneficiaries of this growth. Investing in tokens on Worldwide Asset eXchange can potentially bring huge benefits to those who know how to use the platform’s functionality competently and choose the tokens to buy. That’s why we recommend investing in Octopus WAX pool through our Telegram bot —t.me/Octopus_VC_bot, if you want to earn on Worldwide Asset eXchange. The pool is managed by a professional who is familiar with both the gaming industry and the NFT market.

Remember that you can invest in Octopus WAX pool through our Telegram bot — t.me/Octopus_VC_bot. Through it, you can also invest in other pools and buy OCC tokens.