Worldwide Asset Exchange, WAX, is a localized system that hosts a virtual marketplace. The currency is a token awarded to in-game items. It is transferable and customarily used to boost the player’s earnings. The platform cuts transaction costs and creates a transferable asset that can be traded.
It enables new virtual assets to be consolidated and exchanged, creating a micro-economy of its own where virtual assets can be accurately mapped to the physical asset equivalents in the future. The system’s multi-tier strategy ensures the tokens are linked to the right assets and owners self-regulate. How does the overall system work?
Token holders consult Transfer Agents who then get the Guild’s approval considering their rating and proof of stake agreement. An intricate self-regulation mechanism ensures tokens retain their authenticity and are properly linked to the virtual asset. The platform creates a seamless trading system that has the potential to connect digital assets to physical assets. Malcolm CasSelle serves as the President of WAX.
He is also the Chief Information Officer of OPSkins, a revolutionary virtual marketplace for digital assets that controls a $50 billion kitty. The company was launched in 2015 and is an early adopter of cryptocurrencies such as bitcoin and blockchain technologies. Malcolm CasSelle has extensive experience with digital assets, blockchain technology, and online gaming among other technology segments. He graduated from MIT and then went on to Stanford for his master’s degree, which he completed in 1994.
He has held multiple positions in the technology sector. He has worked for firms such as Schroder Securities, Morph’s Outpost, NetNoir, which he co-founded, and HKT Teleservices. In 2003, he worked as a director of Original Quinton, and in 2005, he served in a similar position at GlobalCast Networks. He then moved on to Holo PGP in 2008 and was part of the Groupon Tencent team in China.
CasSelle is also affiliated with Capital Union Investments, Xfire, MediaPass and Timeline Labs where he served as the CEO. He has also worked for SeaChange International overseeing digital media operations. Prior to WAX, he served as the Chief Technology Officer of the then Tribune Publishing, now Tronc. He is also a board member at SRAX, a digital advertising firm based in Los Angeles.