The founding of WAX which stands for Worldwide Asset eXchange has given all individuals the opportunity to take part in the participation of virtual game assets. That has given people a reorganized opportunity regarding participation, and it also illustrates the strength that is there in tokenizing game items. The creation of WAX is geared towards reducing costs that are involved in transactions, opening up markets for distribution of game items which was not there before and also fractionalize the profits which are earned by players that are gained from centralized transactions.
Tokenization creates a platform which gives individuals the opportunity to possess virtual assets. That, in the long run, creates an economy which is more accessible and new and one that can increase into physical assets. As with any form of creation, tokenizing has its fair part of challenges. One of the main setbacks when it comes to tokenizing of assets is on how to come up with ways which are going to look into the tokens so that the tokens which are on the blockchain remain attached to their asset.
The whole process of exchanging virtual assets is carried out through users who are in charge of transmitting the items which are called Transfer Agents, the supervisory committees which are known as Guilds and the systems which are used in rating. If a situation arises where the Transfer Agents do not do their duties the reputation of a guild will be affected and also the financial stake will suffer the consequence.
Malcolm CasSelle is a worldwide recognized business person and he serves as the current Chief Technology Officer (CTO) of New Ventures which was previously known as Tribune Publishing. He is also the president of the company. Before joining New Ventures, he served as the senior vice president of a company known as SeaChange International.
Malcolm has a graduate degree and a master’s degree in computer science. He did his undergraduate in Massachusetts Institute of Technology (MIT) and his masters from Stanford University. His great expertise when it comes to technology related issues has given him the opportunity of working with many big companies where he has served in senior positions.