The Wax Token is to become the decentralized, digital means of payment for trading skins. These skins are digital goods that change the appearance of characters and weapons in online games. What sounds like a silly gimmick has developed into a serious market. That’s why it’s worth taking a look at the wax crypto currency.

Wax Token – What is this Bitcoin revolution?

The Wax Token is not a Bitcoin revolution scam of a trading place where video game skins are traded. These skins include accessories, clothing or weapons with a distinctive look. Players can unlock them by playing and wear the skins to give themselves an individual look. Basically, they are nothing more than branded Bitcoin revolution clothing in video games. Some of the skins are so rare and coveted that a market has developed where they can be sold for hundreds to thousands of dollars, euros, etc.

Token development began because there are only a few, highly centralized markets that offer such skins. This leads to a distorted supply and demand. „Wax“ stands for „Worldwide Asset eXchange“ and wants to create a decentralized, global list of all offers of these skins and at the same time introduce a payment system with the W/ax token. At the same time, fraud and various security problems should be a thing of the past, as good as possible. The first skins could be traded via the game Team Fortress 2 on the platform Steam. That was such a great success that the concept was soon adopted by other games. The problem for the players was that the money invested in Steam via the skins remained on this platform. Therefore independent platforms developed. Among the largest are OPSkins, which is now also involved in the token development.

ERC20 tokens are coins based on the blockchain of Ethereum

Through the partnership with Bancor Coin seen on, the Wax Wallet will allow you to convert wax tokens against any other type of ERC20 token. ERC20 tokens are coins based on the blockchain of Ethereum. This solves the problem for many gamers that they may not know what to do with the money they have invested in a platform. The purchase and sale of digital goods is simply negotiated by Smart Contracts. The platform is based on the decentralized blockchain, so there are no costs for maintenance and servers, which are then passed on to the players in the form of fees. Buying skins with W/ax tokens, on the other hand, should be comparably cheap, cost low transaction fees and the transactions should take place almost immediately.