Animoca Brands and WAX collaborate to accelerate virtual item and crypto collectible trading on blockchain
Highlights:
● WAX Blockchain and Animoca Brands partner to progress virtual item and crypto collectible trading on blockchain through Non-Fungible Tokens (NFTs)
● WAX is the world’s first and largest purpose-built global blockchain e-commerce platform designed for trading virtual items
● WAX is the equivalent of eBay or Amazon for digital items, facilitating over 5m trades per day
● Animoca Brands will introduce user-generated items for its game The Sandbox on to the WAX platform
● The Sandbox is a successful mobile game franchise (40m installs with 1.2m active monthly users) - the game is to become the world’s first decentralised community driven game platform, providing users with true ownership of their creations as NFTs
● Non-blockchain user-generated content games such as MineCraft (sold to Microsoft for $2.5Bn) and Roblox (valued at over $2.4Bn) have proven highly popular
● The Sandbox platform’s Voxel Editor, launched in December 2018, allows users to create 3D assets while also providing a Marketplace for trading and selling these assets
● Animoca Brands and WAX are conducting an exchange of value in the amount of US$250,000, whereby Animoca Brands will exchange common shares of its stock for the equivalent value in WAX tokens
● The partnership adds significant value and fast-tracks user adoption by allowing millions of The Sandbox users and other gamers access to a liquid market for their creations, and gain access to pre-sale virtual items on WAX ExpressTrade, the easiest and free way to trade virtual items
AB1 Price at posting:
9.5¢ Sentiment: None Disclosure: Held
