Santa Clarita, Jan. 06, 2022 (GLOBE NEWSWIRE) -- WaxDynasty.com is a new website that has been recently launched and this is focused on news regarding the Worldwide Asset eXchange (WAX) coin and other metaverse coins and crypto. WAX was founded in 2017 and it has been regarded as the most environmentally friendly blockchain for collectibles, NFTs, and video games all over the world. The WAXP token can be used to purchase NFTs, computer games, and collectibles. There is also a blog site for WAXP and other metaverse coins at waxmetaverse.blogspot.com, where its latest article lists WAXP among the top three coins in the Metaverse Space for the year 2022 that are all under $1.
Metaverse is a network made up of 3D virtual worlds that are focused on social
connection. Metaverse projects on blockchain networks are funded by fungible tokens. These are tokens that are divisible and can be mutually exchanged. With these tokens, people can buy digital assets, including virtual real estate or outfits for avatars. Some metaverse cryptocurrencies can also allow their owners to vote on decisions made within a metaverse platform, including which new features should be released first and where money should be invested. Theoretically, when the value to the digital real estate and other kinds of digital assets increase, their associated tokens will also rise in value. In addition, some metaverse platforms burn all the tokens used to buy digital assets, thus removing them permanently from circulation with the result that the remaining tokens become more valuable.
Millions of dollars are being spent by companies investing in the metaverse. However, only time will tell if there will be mass adoption and usher in an era barrier-free digital interaction. An alternative is that it may just become a niche product that is for gamers and those who love future tech. It is not yet known how the metaverse will evolve.
WAXP is a purpose-built blockchain that was designed to make e-commerce transactions simpler, faster, and safer for everyone who is involved. To do that, this blockchain employs delegated proof-of-stake (DPoS) as its consensus mechanism. And it is completely compatible with EOS.
The incentive mechanisms and the special features of the WAX coin are for optimizing the utility of the blockchain particularly for e-commerce to encourage voting on proposals. To allow that to happen, WAX developed a suite of blockchain-based tools that non-fungible tokens and decentralized application (DApp) marketplaces can be built upon. WAX services like the WAX Cloud Wallet, OAUTH, and SSO all support e-commerce operations, and the WAX blockchain architecture can support zero-fee transactions and 500-milllisecond block time for customers. It also offers voting rewards to motivate participation in the selection of block producers and proposals for improvement.
WAX was established by William Quigley and Jonathan Yantis. William Quigley is a graduate of the University of Southern California and got employed at Disney. After leaving Disney, he earned his MBA degree and became a venture capitalist. Later on, he served as the managing director of Idealab. Aside from founding WAX, he also serves as managing director at Magnetic. Meanwhile, Jonathan Yantis is the COO at WAX and also the COO at OPSkins.
MAX is different from other tokens because it makes use of a WAXP-to-Ethereum bridge that allows the conversion of WAXP tokens into WAXE, which is an Ethereum-based ERC20 utility token. Users who want to take part in WAX tokenomics will have to burn their WAXP tokens to get WAXE via the Ethereum bridge, and then they will have to stake the WAXE tokens on the Ethereum distribution contract. The WAXG serves as the Ethereum-based ERC20 governance token that is distributed to the WAXE stakers with the distribution being based on a particular timetable and is proportional to a fraction of the WAXE Economic Activity pool. This pool is a smart contract where generated WAX fees are accumulated and it can be converted into ETH that will be distributed to WAXE stakers. For those who are interested in knowing where to purchase WAX, the leading cryptocurrency exchanges are Binance, KuCoin, Gate.io, Huobi Global, and HitBTC.
Those who are interested in learning more about the WAXP token and other metaverse coins can check out the Wax Dynasty website at https://waxdynasty.com, or contact them on the telephone or through email.
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