Cryptocurrency

Animoca Brand and WAX collaborate to implement virtual item and crypto collectible trading on the blockchain

The Animoca Brands is one of the top developers of the gamification, artificial intelligence and blockchain technology. They have published a broad range of mobile products including games such as The Sandbox, Crazy Kings, etc. They also focus on products based on highly recognized intellectual properties such as Garfield, Thomas & Friends, Masters of the Universe, Beast Quest, Master Chef.

Wax was designed to allow item trading to happen peer-to-peer. WAX Tokens (WAX) allow virtual goods to be exchanged for the cryptocurrency. It is the safest and most easy way to create, buy, sell, and trade virtual items – to anyone, anywhere in the world. OPSKINS which is a thriving marketplace for virtual trading items centralized is one of the Wax projects. OPSkins process more than 2 million transactions. It exposes WAX to millions of customers trading digital items around the globe.

Animoca Brands and WAX Blockchain partner to progress virtual item and crypto collectible trading on blockchain through Non-Fungible Tokens (NFTs). WAX is the world’s first and largest blockchain e-commerce platform designed for virtual trading items. The user-generated games will be introduced to the Sandbox game on to the WAX platform by Animoca Brands.  The Sandbox is a successful mobile game, and it is the world’s first decentralized community driven gaming platform. The Sandbox platform’s Voxel Editor which was launched in December 2018 allows users to create 3D assets while also creating a Marketplace for trading and selling these assets. The partnership adds great value by allowing millions of The Sandbox users and other gamers’ access market for their inventions, and gain access to pre-sale virtual items on WAX Express Trade which is the easiest method from trading virtual items.

Animoca Brands is planning to collaborate with WAX so that they can drive mass market adoption on the different collectibles in the market that is based on the blockchain technology.

animoca-brands

With the help of WAX’s million transactions, it will help the company in maximizing the reach of the subsidiary Pixowl’s. Pixowl is The Sandbox to get into the gamer community. The Sandbox is a very successful mobile game with 40-million installs, and they have around 1.2 million active players every month, and about 70 million worlds have been successfully created. The collaboration will also help to increase the utility of both the platforms for these companies.

The Animoca Brands platform allows the generation of NFTs, which is a player made non-fungible tokens that can be generated on The Sandbox blockchain which can easily get acquired and sold on the Marketplace created by WAX. Moreover, the company will ensure to prove some additional visibility together with liquidity to the creators on the platform.

Animoca Brands and WAX will carry out trading of value in the amount of US$250,000, wherein Animoca Brands will exchange common shares of its stock with an equivalent value in WAX tokens. The swapped tokens and shares and will be under a 24-month escrow period. The amount of Animoca Brands shares to be issued will be calculated based on US$250,000 converted into Australian dollars and then dividing it by a deemed issue price calculated based on the 21-day weighted average price of the Company’s shares as of 11 January 2018. The Company intends to release the shares using its existing placement capacity.

William Quigley, the CEO of WAX, said:

“We designed the WAX platform for global digital commerce. WAX processes more e-commerce transactions on a blockchain than any other company. By combining strengths with Animoca Brands, we can ensure that all players have a positive experience when they buy, sell and trade The Sandbox in-game virtual items to anyone in the world.”

Arthur Madrid, the CEO of Pixowl, said:

“We are entering a user-generated creative renaissance in blockchain gaming, in which players will increasingly make and control their content. At Pixowl and Animoca Brands, we are focused on making The Sandbox a truly player-centric gaming ecosystem that lets you create, own and trade virtual goods in the form of non-fungible tokens such as avatars, buildings, or weapons. Thanks to our partnership with WAX, these non-fungible tokens created by The Sandbox community can be made available for trade on one of the world’s most significant digital assets marketplaces.”

Yat Siu, the co-founder, and chairman of Animoca Brands said:

“The relationship with WAX that we announced today expands the Animoca Brands network and boosts opportunities for synergy, enabling improved monetization of our and our partners’ NFTs and other digital assets on a well-established e-commerce platform that is also the most transacted blockchain globally.”

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
Event Information
Event Information
Back to top button