WAX and KyberNetwork: Stronger together

As we are approaching our first month post-token sale, we are glad to announce a partnership with WAX (Worldwide Asset eXchange), a decentralized trading platform for video game virtual assets, powered by the executive team behind OPSkins marketplace, the largest marketplace for trading video game assets in the world with millions of users and over 200,000 new user registrations each month. To date, the company has recorded more than 150 million transactions over the past 18 months.

WAX: a game changer

WAX is designed to significantly expand the $50 billion market for buying and selling video game virtual items, and provide a solid use case for cryptocurrency. Compared to the 400 million people who buy and sell skins, there are only 4 to 5 million active cryptocurrency consumers across the entire globe.

Utilized by a savvy group of global consumers who are already well versed in trading, storing and safeguarding virtual items, WAX has a legitimate potential to bring a consumer force to cryptocurrency trading that is 100 times greater than the active cryptocurrency user base.

WAX is doing away and establishing a trustless platform, unlocking value, which can be utilized in the real world. WAX is helping gamers and aspiring gamers to become relevant in the global economy by concretizing the virtual assets within video games and dignify the rare skin collector to the same level as a stamp collector. WAX serves as a catalyst to break through the virtual item trading economy, currently valued at $50 billion, to the expansion phase.

Kyber Network

Kyber Network will be integrated directly with both OPSkins and WAX platform to facilitate the payment in both platforms. Already accepting large amount of Bitcoin payments, OPSkins will soon open up an option to allow buyers to pay in Ether. With Kyber Network’s integration, buyers on OPSkins can purchase virtual game items using ERC20 tokens seamlessly and securely, thereby enhancing user experience and improve retention.

Similarly, as WAX token will act as the sole method of payment for its ecosystem, Kyber Network’s integration will expose interested parties to the platform in this highly disruptive market. With Kyber Network incorporated on the platform, ERC20 token holders are empowered to purchase virtual items in the marketplace, even if that means the sellers on WAX only accepts payments in WAX tokens, and it allows for a seamless, efficient, cost-effective and instant participation in one of the fastest growing industries.

Kyber Network CEO and co-founder Loi Luu said: “the partnership will benefit both parties as Kyber Network will have access to millions of users in both OPSkins and WAX platform. On the other hand, Kyber Network can enhance the magnitude of the growth in the gaming asset market by allowing more crypto users to conveniently purchase their favourite game items using their crypto tokens.”

Additional Benefits

To Kyber Network, the general criteria for a partnership, is to not only generate traffic for the network itself, but it also has to create opportunities for more people to participate in the partner’s network. In this respect, Kyber Network will support WAX’s token sale from 1 November, as follows: