How long until you can own a part of Michael Jordan’s original jersey with cryptocurrency? Malcolm CasSelle, President of WAX, says it’s not long at all.
WAX, which stands for Worldwide Asset eXchange, is a decentralized platform that has created a marketplace for virtual, tokenized, game assets for anyone to join. While the focus is on virtual assets, there is a strong possibility for physical assets to be exchanged as well.
These assets would be governed using rating systems and a proof of stake algorithm, as well as Transfer Agents and Guilds. Transfer Agents are responsible for transferring the asset from seller to buyer safely and are supervised by committees called Guilds. Guilds are elected and risk not being re-elected in the game if they do not authenticate assets and take action against irresponsible Transfer Agents. This form of checks-and-balances is what keeps WAX tokens connected to their appropriate assets.
WAX Token’s strength stems from the level of confidence in the Guilds and the overall platform. More confidence = more transactions. More transactions = better reputation.
With all that being said, it’s obvious to see that WAX, with the help of Malcolm CasSelle, has created its very own economy for the purpose of exchanging assets we never thought of exchanging in this likeness before.
Among spearheading the crypto-universe we are heading in, Malcolm CasSelle was previously President and CTO at tronc (formerly Tribune Publishing) overseeing rapid growth properties leveraging digital assets. Malcolm has led startups in the digital industry like MediaPass, Xfire, and Groupon’s joint venture with Tencent in China.
Malcolm was also an early-stage investor in Facebook, Zynga, and also invests in big data and blockchain verticals, all with degrees in Computer Science from both MIT and Stanford University.
Malcolm is a professional entrepreneur who has a reputation for finding the best technology with the potential to upholster how we run society. You can find more information on how WAX Token will be doing just that on its website at waxtoken.com.