The tokenizing of in-game items for video games is increasing in popularity, and the Worldwide Asset eXchange, otherwise known as WAX, is right at the center of the new trend. The company, ran by Malcolm CasSelle
, looks to expand the base of games that is currently being served, reduce the cost of transactions, and help players to own virtual items and other assets from countless different games. By putting the power of regulatory oversight into the hands of those who hold tokens themselves, WAX is hoping to build a more sustainable and responsible system that will award and penalize those who are the new overseers of in-game transfers of virtual items.
By fractionalizing in-game virtual items, many different people can own a share of them. The guilds who are put in charge of exchange services can actually increase the value of a product based on their reputation. WAX is also looking to include physical assets, which may increase security as they are not traded as often as virtual assets. The company is also reducing the risk of transactions being hacked and manipulated because of its blockchain capabilities, and due to its innovations in the industry, there are virtual items and assets that are now being traded that never have been before.
Malcolm CasSelle is a successful entrepreneur who is also the President of WAX and the CIO of OPSkins. Before today, he was Senior Vice President of Digital Media of SeaChange International, and before that he served MediaPass as its Chief Executive Officer. Mr. CasSelle was also the CEO of Xfire and worked for Union Investments as its director. His work with Groupon’s joint venture with Tencent has been documented, and many credit him for its success.
Malcom CasSelle has a reputation for being extremely smart, intuitive, and savvy about the word on the street. Top leaders in his industry and related industries have referred to him as being gifted and a natural leader who knows how to communicate well. It is known that he is able to crossover and build bridges between eastern and western business people, and his knowledge about many areas of his industry has impressed its thought leaders. His perspective and knowledge is constantly being sought out by those who look to be as successful as he has been.