If you are in the gaming community then you probably already know about OPSkins. It is one the leading marketplace to buy virtual skins. Now they are introducing a token called WAX.
What is WAX?
The WAX platform is a blockchain-based decentralized platform that enables anyone to operate a digital item marketplace like OPSkins.
The WAX Token is a utility token that will make it easier and less expensive to trade items on the WAX platform, and allow anyone to create their own virtual item marketplace.
What does WAX do?
- WAX creates a decentralized platform for trading virtual items: Currently, OPSkins is a centralized marketplace, which means that buyers and sellers must visit OPSkins to trade their items. But the WAX platform is a decentralized platform that will allow anyone to create their own fully functioning virtual store and trade items with each other - with the same security infrastructure and settlement services that OPSkins currently offers on our centralized platform.
- WAX Tokens will be used to buy and sell items: WAX significantly reduces transaction costs, and so provides an easier and less expensive settlement method for buying and selling digital items.
- WAX will create a public virtual item repository accessible by anyone: the WAX platform is built using blockchain technology, which will allow you to see any skin or digital item that anyone has listed for sale in exchange for WAX Tokens - in real time.
Why is OPSkins creating WAX?
WAX is the next step for OPSkins. WAX is intended to grow not only our marketplace, but offer a way to allow anyone to establish a marketplace for in-game skins and other digital items.
Buyers, sellers, affiliates, streamers, appraisers, etc. can all set up their own marketplaces and WAX provides the tools needed - security infrastructure, and safe and less costly settlement - to those who adopt it.
Why is WAX necessary?
Established in 2015, OPSkins has been the world's number one marketplace for trading in-game items. During our experience operating and growing the site, we've identified hard-to-solve problems experienced by not only OPSkins, but also by sellers and buyers who use our marketplace.
For example, there aren't enough low-cost settlement methods especially for cross-border transactions. Also, OPSkins can only accommodate item trading for games with a trade API.
WAX tokens will solve these issues. You'll be able to purchase WAX Tokens using bitcoin and ethereum with minimal fees.
Once you have WAX Tokens, it will be easy and inexpensive to buy items on OPSkins and any site that accepts WAX Tokens. Since WAX is a decentralized platform, any virtual item can be traded with WAX Tokens, including items for games without a trade API or even non-gaming digital items.
Why should I use WAX Tokens?
WAX Tokens will make it easier and less expensive to buy and sell virtual items. It will also allow you to trade items outside of the limitations of what's currently offered on OPSkins. If you're inclined, you can set up your own shop without having to set up (and pay for) settlement services or safety and security infrastructure.
[Source]https://www.waxtoken.com/opskins-faq/
