In the midst of the sharp decline across all tokens - when it seems like everyone has moved on to the next hot tech fad - the most important thing to focus on is the pace of innovation. We learned this lesson when the dot com bubble burst. Wall Street and most venture capitalists abandoned the consumer internet sector for years, but entrepreneurs did not. They kept building and customers kept adopting superior Internet services. We expect the same thing to happen with blockchain technology.
The WAX team has been highly productive the past few months. Following the launch of the beta WAX Blockchain in June, we've released a series of new products and services aimed at the hundreds of millions of consumers engaging in digital commerce. The WAX platform makes it incredibly easy for consumers to buy, sell and trade digital items. This is a market we know well. Which is why WAX has so quickly gained consumer adoption and become the #1 blockchain by commercial transaction volume in just a few months. You can read more about our work and achievements below.
WAX - #1 BLOCKCHAIN
With the launch of a new category of NFTs - branded digital stickers called WAX Stickers - WAX has surpassed EOS to become the biggest blockchain as measured by daily transactions.
Transactions on the most active blockchains (7 day average):
WAX Stickers have become a big hit since launching them a month ago. They are especially popular among social media influencers, sports teams and other progressive companies looking to promote their brands in an engaging new way. There are now over 110k stickers traded on the WAX blockchain and there have been over 825k trades in just 2 weeks! Even Captain Kirk has taken notice of the WAX sticker phenomenon! William Shatner himself recently tweeted about WAX stickers while commenting on a piece of Star Trek digital art.
THE WAX PLATFORM - A COMPLETE SOLUTION, NOT JUST A BLOCKCHAIN
Consumers now trade $2 million worth of digital items daily on the beta WAX Blockchain. You can see the data for yourself on the new WAX Explorer, which also shows the US dollar value of all items traded each day.
What is driving all this volume? WAX is experiencing strong commercial success because of how we designed it. WAX is a complete platform for digital commerce. We would encourage anyone who is interested in what makes a successful blockchain business to take a deeper look at the way WAX works. A blockchain alone is not sufficient. Which is why WAX is not just a blockchain.
WAX constitutes a well thought out set of technologies and services. These include:
1) a blockchain purpose built for high transactions per second at minimal cost to accommodate consumers who wish to trade even very low priced digital items (sub $0.05 USD)
2) an easy to use browser / wallet for organizing and trading NFTs
3 ) a network of fiat and crypto accepting marketplaces for consumer payment convenience
4) a block explorer designed for high resolution viewing of unique digital collectibles
As far as we know, WAX is the only blockchain project to successfully assemble all of these necessary elements to serve a large global consumer market. WAX's #1 ranking in (real consumer) transactions is a sign that what we have built is working. It is a result of product market fit, familiar consumer interfaces and of course a large and receptive audience that loves virtual collectibles.
WAX BLOCK EXPLORER - A VISUAL EXPERIENCE UNLIKE ANY OTHER ON A BLOCKCHAIN
WAX has re-imagined the concept of the block explorer with the WAX Explorer. We've also given boring old block explorers a new purpose. The WAX Explorer has been transformed into a digital collectible product catalog. Every NFT can now be examined in its full-color 3D richness. This marks the beginning of the end of block explorers as simple transactional data repositories. Of course the WAX Explorer will continue to provide all of the typical information you would expect to find in a traditional block explorer. But we have turned it into something much more engaging and useful for the millions of consumers who collect NFTs.
We expect other NFT compatible blockchains will adopt the presentation-format innovation we have built into the WAX Explorer. But remember, you saw it here first! Go to the WAX Explorer now and you will see every virtual item being traded. If you drill down on a specific NFT you will find information on its owner, the trade history as well as a configurable high resolution 3D model of the virtual item itself.
There has never been a block explorer so usable and valuable to the millions of consumers with NFT collections. This is another example of how WAX is developing real consumer mass market services for the global item trading community.
You can read a deep-dive into the WAX Explorer’s features and functionality here: https://wax.io/blog/reimagining-the-block-explorer-with-the-wax-explorer
And see it live at: http://explorer.wax.io
You can find more about what WAX has been doing with Twitch, YouTube and the new WAX Stickers, in the blog posts below:
WAX IS NOW AVAILABLE ON TWITCH & YOUTUBE
We recently launched a WAX ExpressTrade overlay that can be integrated on all streaming platforms including Twitch.tv, the largest video streaming site for video gamers in the world, as well as YouTube. Broadcasters and their fans can now trade digital merchandise with one another without leaving the live stream.
WAX STICKERS WITH OFFICIAL BRANDS ARE NOW LIVE
A few weeks ago when we released WAX Stickers, the video game streaming community and their fans love this new NFT category. Check out the Twitter hashtag #WAXonStream and this blog post for more details.
We are seeing a flurry interest in our new NFT sticker product and we have already added licensed stickers from major teams, such as Manchester City Football Club, Arsenal Football Club, and professional eSports leagues. Many more licensed WAX Stickers are coming soon.
MAINNET RELEASE SET FOR Q2 2019
For more information about the Q2 2019 mainnet release and other details please read this blog post:
Finally, the link below provides a good synopsis of WAX's transaction volume and overall business.
Please stay tuned to our blog and Twitter for updates.
William Quigley, WAX CEO
Jonathan Yantis, WAX COO