Animoca Brands And The WAX Platform Have Collaborated To Accelerate Collectible Crypto Trading And Virtual Items On The Blockchain
The Animoca Brands is one of the leading developers of the gamification, artificial intelligence and blockchain technology. They have just announced that it has been able to execute a term sheet that can be used for the collaboration together with an exchange of the current value that is with the Exposition Park Holdings the SEC.
The Exposition Park Holdings is the company that has been responsible with overseeing the WAX, which is the Worldwide Asset eXchange, it is the global e-commerce platform that has been used for the exchange and the trade of different virtual items.
More On The WAX Platform
The WAX platform was created by the founders who are behind the OPSkins, a platform that has been considered to be the largest virtual item that you can find in the market place. A platform that has been able to facilitate over 150 million purchases within the digital asset collectibles.
WAX has been able to provide a full suite of tools that are based on the blockchain technology, tools that have been designed in a manner that it is able to allow an individual to trade different digital items all done securely and instantly. WAX was launched back in July 2018, and since then it has been able to be the largest blockchain when looking at the transaction volumes, this is having more than 5 million trades taking place peer to peer of different digital collectibles every single day.
More On The Collaboration
Animoca Brands has gone ahead to collaborate with WAX so that they are able to drive mass market adoption on the different collectibles in the market that have been based on the blockchain technology.
With the help of WAX’s million transactions that take place in a given day, it will aid the company in expanding the reach of the subsidiary Pixowl’s which is The Sandbox to get into the gamer community. Additionally, the collaboration will be able to help increase the utility of both the platforms for these companies.
The Sandbox has been designed as a decentralized community where the different creators and the developers on the platform will be able to monetize the voxel assets together with the gaming experiences taking place in the blockchain technology.
The platform was developed by Pixowl, which is a game studio that was recently acquired by the Animoca Brands, at the moment The Sandbox is a very successful mobile franchise that has been able to acquire 40-million installs, they have 1.2 million active players each month and about 70 million worlds that have been successfully created. In later 2019 is when the company will be launching the Mac, PC, and mobile blockchain version.
The Animoca Brands platform will allow the generation of NFTs, which is the player made non-fungible tokens, that can easily be generated on The Sandboxblockchain which can easily get bought and sold while 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.
There Is A Mutual Exchange Of Value On The Platform
With the agreement that they have in place, Animoca Brands and WAX will initiate a mutual agreement value that is totalling to about $250,000. In this agreement, Animoca Brands will be exchanging some of the common shares within their stocks that are equivalent in value to the WAX tokens.
With the swapped tokens and shares, it will be subject to a 24-month escrow period.
With this collaboration in place, it will be able to expand the Animoca Brands network and be able to boost various opportunities of synergy. At the same time, the WAX platform will also be able to ensure that all their players on the platform will be able to enjoy a positive experience when trading.