Malcolm CasSelle has now ignited the world of cryptocurrency using in game virtual assets by taking the virtual items player use and tokenizing them. Malcolm is the global leader in sales in game virtual assets and currently is the CIO of OPSkins, the creators of what is called WAX, (Worldwide Asset eXchange) which is a new way of virtual asset trading that uses blockchains and decentralized smart contracts to increase the efficiency of trades among players.
The reasons for using WAX is because online interactions have two huge problems when it comes to the virtual asset market and those issues are fragmentation and fraud. However, when using WAX and allows users to instantaneously swap or purchase and sell their goods without ever leaving their game.
WAX enables users to tokenize or put a value on their different assets in their gaming experience. In the past individuals had to log out of whatever they were doing game wise and purchase their different individual pieces to upload into their game. However, with this players will be able to immediately purchase their acssets instantaneously. Another issue players were running into was the desire to trade with other individuals that were in other countries. WAX gives a common form of currency for all virtual assets allowing for trading among individuals in different countries or places where currencies are used.
WAX is solving the fraud issues that they have with the use of decentralizing the marketplace allows free users to interact with only each other and not a third party hackable source. The fraud proof purchase or trade will be conducted through what is called a smart contracts which guarantees delivery of asset and funds.
WAX solves this problem because it allows the transaction between 2 individuals to happen only when the to individuals agree upon the transaction being fully completed. With technology becoming ever present online WAX is now allowing for virtual assets and hopefully other products to be used via cryptocurrency and making a safe and efficient way to use good money another market.
Find out more about Malcolm CAsSelle: https://www.politico.com/media/story/2016/06/what-is-tronc-004625