WAX is the abbreviation for worldwide asset exchange and it is a decentralized platform which allows anyone to take part in a virtual game assets marketplace while demonstrating the benefits of tokenizing in-game items. This platform minimizes transaction costs, fractionalizes the profits of the player from centralized exchanges and also creates a marketplace for games which did not have the possibility to transfer assets. Tokenization allows virtual assets ownership, creation of a new and additional accessible economy with the possibility to grow into physical assets. Tokenizing assets has one big challenge which is looking for ways to monitor and ensure that tokens which are on the blockchain stay tied to their asset. The multi-layered governance approach of WAX creates regulatory oversight which is done by the token holders.
The process of virtual asset exchange is done via users who are responsible for transferring items, referred to as Transfer Agents. The supervisory committees are known as Guilds. The reputation and financial stake of a Guild can be affected in case the Transfer Agents do not perform their duties effectively. Physical assets fractionalizing is known to open up possibilities for collectors and fans. Guild is responsible for regulating oversight by monitoring ownership as well as authenticating items.
An international entrepreneur, Malcolm CaseSelle works at Tronc Inc where he holds the position of Chief Technology Officer. Previously, Malcolm served at the Digital Media of SeaChange International where he was the general manager as well as the Senior Vice President. He went to serve at SeaChange International in the year 2015. Some of the startups that CasSelle has led in the past include Xfire, MediaPass and the joint venture of Tencent and Groupon. Malcolm is a graduate of the prestigious Stanford University and MIT where he studied Computer Science. An accomplished investor, he has been involved in huge companies such as Zynga, Facebook Bitcoin-related companies. In each and every position that he has held, Malcolm has been able to steer a lot of growth and success. He has earned a reputation as a very reliable and efficient, entrepreneur, investor and leader. Malcolm CaseSelle serves as a role model and mentor to many young people from all over the world.