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What Is WAX Blockchain and Why You Should Invest

By dai- | WAX Gaming | 22 Nov 2021


If you have been following my post, you would know that I am quite invested in the WAX blockchain and a bunch of game projects that lives within it. Projects such as Alien Worlds, Farmer World, R-Planet, NFT Stonkers, and much much more can be found in it. In this article I will breakdown what made the WAX Blockchain the best gaming blockchain and how the WAX token continues to rise in price. 

What Is Wax Blockchain?

Worldwide Asset eXchange (WAX), is a blockchain that allows users to make NFT transactions in a safe, secure, and friendly way. This includes trading, buying, selling, and auctioning virtual items from different games under one wallet. Unlike other decentralized marketplace like openseas and simplemarket, WAX probably has the most easy-to-use user interface. WAX also allows any user to create their own NFT very easily, the accessibility that the WAX blockchain has, allowed many new different projects to form. Not to mention, WAX proof of stake method and providing a service for managing your account instead of you having to keep your own private keys, is also very appealing to people who are new to the crypto world. 

WAX was built by people who had previous experience in the marketplace industry before, William Quigley is the current CEO for both the WAX blockchain and OPSkins. While it's COO, Jonathan Yantis was the the pioneer for the virtual products way back in 1997. Having someone who have a previous knowledge on how to create a successful marketplace, they use their prior knowledge of building a secure and user friendly platform for millions of users to trade each day. 

Why Wax Blockchain?

Wax blockchain homes to a lot of popular crypto / blockchain game, it currently holds 8 out of 25 of the most played crypto game according to DappRadar. The reason for this success is not only that it is so much easier to do transaction in WAX due to it's instant trading and it's incredibly low trading fees, but also the communities from each games are able to interact and give feedbacks on what the future of the game should look like. This strong connection between the player base and it's developers is a key process in retaining players attention and the growth of a project. 

Additionally, the WAX blockchain is a place where you would find the most Free To Earn games, which very little to no cost of entry into the game. This includes games such as Alien Worlds, prospectors and many more. People who are engaged in the communities are able to make a decent amount of money in a variety of ways, from joining a game during its early phase, being able to buy a limited sales drop to then sell it back on the market for a sum of profit, and even from getting free NFT's that communities are doing left and right. 

A fellow writer in Publish0x that goes by the name BitcoinBaby managed to sell the free NFT's that they got for a sum of $1142.55 without having to spend a single dime. Of course this took them many hours dedicated into finding communities that are giving away NFT's for free to promote their project. 

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Accounts are also free to make in WAX blockchain, where each transactions are done in just 500 millisecond and its free! You can also make your account using Google, Facebook, Steam, Kakao and more which makes it even more appealing. I personally use my steam to connect to my WAX account since I find it the most convenient. 

Why You Should Invest In WAX

WAX has been steadily inclining for the past 12 months, where 1 WAX used to go for $0.03 it is currently going for $0.80. This "boom" began a few months ago when WAX was listed on Binance, where the price instantly rose from $0.18 to $0.33. From then on the price continues to rise due to the rise and maturity of incredible and profitable gaming projects in the blockchain. 

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I predict that this is only the beginning for WAX, where games in the blockchains are slowly being fleshed out and polish which will further attract more and more player into the blockchain. Where game like Alien Worlds has manage to gain a partnership with Binance which puts the project in good hands (I also recommend you investing a bit of money into TLM, the currency of Alien Worlds), especially with more big updates that will continue to push the game forward. 

Another prediction that I believe sooner or later will happen is that Coinbase will probably list WAX in their app sooner or later. This will invite a large group of people into investing and using WAX blockchain. Though, I worry that this will make it harder for new users to get started in the WAX blockchain due to the increasing price of WAX. Which is a sort of similar case with Axie Infinity, where the entry point has increased so much which makes it a Pay To Earn model. 

Another exciting thing that WAX has is that it  also houses multi-million dollar company and franchises from Street Fighter, Hot Wheels, MLB, Funko Pop, and it's latest collaboration - Blade Runner.

In the end, if there is ever a good time to start investing in a promising project such as the WAX blockchain, the time is now! Somehow WAX is still considered under the radar in the publics eye, which makes it a good thing to at least hold a few hundreds of WAX before the next rise in price.

My Own Experience

I initially invested about $200 worth of WAX 6 months back, where I use that money to buy NFT's from drop sales, play profitable games, and supported projects that are new which looked promising. This led me into turning that $200 into $2375, where I don't have to spend more money to continue investing in my portfolio, and invest more solely from my earnings from all the games and projects that I have invested. 

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Although finding the right project can be tricky at times, but if you take the time to read their white paper, and understand the project fully, you can a game/project that has value. I suggest being involved in their discord community where people would often share about promising projects in the WAX blockchain. However, there are a lot of scammers too in the WAX blockchain, so try to be wary!

Another successful case that I have seen in the WAX blockchain is someone who bought 5 lands in Alien Worlds in the early phase which had cost them roughly around $10,000 at that time. However, just by owning this 5 lands their portfolio currently holds $105,790. 

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Thank you for taking the time to read my blog, if you have any feedback and criticism on how I can improve my writing you can leave them down on the comments below. Your like & share would also be greatly appreciated!

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