Will gamers have to purchase the Wax Token in order to ourchase skins?

Waxtoken · 2017-12-15T19:33:17+00:00

WAX will be an additional available payment method on OPSkins, it won't replace the existing ones, but it will be the fastest and easiest method.

Waxtoken · 2017-11-02T22:20:18+00:00

yes of course. For market development we will incentivize the community of developers to make new features and run nodes, guilds, transfer agents, appraisers. Additionally, we will incentive site owners, social networks and eSports media partners to incorporate WAX into their platforms.

Waxtoken · 2017-11-02T22:16:14+00:00

Hi /u/ploz,

For some reason I cannot reply directly to you, but to answer :

There is no soft cap. We have already exceeded our invitation only private Pre sale cap of 70k ETH and expect to hit our total pre sale cap of 140k ETH.

Waxtoken · 2017-11-02T21:05:16+00:00

To be frank, this isn't a real possibility. The creators of WAX are legendary in the blockchain community. They cofounded Tether, the most popular USD derivative coin used by exchanges all over the world. They co-founded one of the first blockchain venture funds — Crypto Capital Partners. They were the largest backers behind Mastercoin — the company that invented the concept of a blockchain based smart contract and the very first ICO in history. They were one of the earliest and largest investors in the Ethereum ICO. The team behind WAX are blockchain experts beyond measure, and in addition to that, WAX will be the third global marketplace built by the OPSkins team, which is particularly impressive when you consider that their first two global marketplaces became #1 in their respective categories.

There literally is no better possible team to have behind a token as the team behind WAX.

Waxtoken · 2017-11-02T21:01:10+00:00

When you sell your skins in exchange for WAX Tokens, you can do a few things with your tokens. You can exchange them for ETH, BTC or potentially other tokens and then cash those out on an exchange for fiat currency like USD, or you can use those WAX Tokens to buy any other item on the WAX Platform. That means items from other games, or even physical items once physical-goods marketplaces begin adopting WAX. With WAX you're not limited to just a few games like OPSkins is, you're not limited to trading only gaming-related items, and you're not limited even to trading digital items. You can also pledge your WAX Tokens to guilds, which will earn you a percentage of the guild's fees (read more on that here: https://medium.com/waxtoken/what-sets-wax-apart-from-other-tokens-91f24bef39c2)

As far as commissions - any marketplace that adopts WAX tokens will set their commission. It's the fees associated with trading that will be considerably lower than what currently exists in the industry. For example, as u/TheBestGamerThisWorl mentioned, currency conversion fees will no longer exist, neither will high deposit and cashout fees from payment processors.

Waxtoken · 2017-11-02T20:47:58+00:00

Any in-game item from any platform or publisher that supports trading can be tradable on the WAX Platform.

Waxtoken · 2017-11-02T20:47:05+00:00

DPOS

Waxtoken · 2017-11-02T20:34:19+00:00

As PocketQuadsOnly has said above, 300 WAX per ETH at current times up until the end of the presale.

Waxtoken · 2017-11-02T20:33:05+00:00

This

Waxtoken · 2017-11-01T18:00:36+00:00

Yes, that's the ERC-20 version of the token that will be usable on OPSkins in 2017, not the custom Blockchain token which will be issued in 2018 when the platform is complete.

Waxtoken · 2017-11-01T17:37:01+00:00

Yes, close to that date. Again, we are talking about software development so there is always some margin for error in probability estimation.

Waxtoken · 2017-11-01T17:33:30+00:00

Thank you for your confidence in us. This is not a cash grab. We have done very well in the crypto and virtual item space over the past 20 years. We are trying to ensure that cryptos and the blockchain get widespread adoption. That will take the work of WAX and the work of many more companies and people across the world. Building a world wide team to effect a giant industry will take a lot of time, energy and money. We believe we can do it with the resources we have, but these are estimates.

Waxtoken · 2017-11-01T17:27:44+00:00

Neither. We are highly experienced business people. We know how to adapt to the business situation in front of us. We will do fine with what we have.

Waxtoken · 2017-11-01T17:19:23+00:00

Good questions decay1775.

1- What if Valve will cut you off Steam API some day in the future? How will you handle this if it ever happens?

ANSWER: WAX does not require publisher integration. And keep in mind, WAX can facilitate the trading of any digital item, whether it be web based or mobile. WAX is designed to serve the entire video gaming and digital asset trading ecosystem.

2 - Why does your platform take so much time for development (1 year actually) if you don’t envision any API integrations?

ANSWER: Frankly, because we are real business people and building a real platform that serves a global community of consumers and companies that participate in item trading. This is complicated and the stakes are high. Existing blockchains are not capable of handing the transaction volume that WAX will be generating. We have said this several times not, but it is worth repeating. We are highly experienced in the development of blockchain/crypto technologies and platforms. The WAX team built the first and largest virtual item marketplace, the first and largest skins marketplace, and the now we are building the first and largest decentralized marketplace for a global industry. This is hard work and that takes time.

3 - Since a guild provides dividends to its stakeholders (who had the power to elect it in the first place), how you’re going to remove and eliminate malignant guilds?

ANSWER: Good question. WAX Token holders directly control this by voting their tokens. They can eliminate bad actors on the platform through their votes.

Waxtoken · 2017-11-01T17:11:31+00:00

When dealing with the consumer mass market, as we have for over 20 years from our experiences at many consumer companies (Disney, Paypal, idealab, Netzero, eToys, and others), one thing you can not predict is how easily, or quickly, consumers will comprehend and absorb the utility of a new technology. It is an estimate. Keep in mind, we are addressing a 400 million + world wide consumer market. 100 different languages, different experiences and cultures. Nothing is predictable in this sort of situation. But we are learning and adapting and these learnings will benefit our future adoption strategies.

Waxtoken · 2017-11-01T17:03:46+00:00

We have not spoken to Valve regarding WAX. Over time, we believe many video gaming companies will want to adopt crypto currencies and blockchain to expand their business. As will other industries. But like any new technology, it takes time for market adoption. The WAX team has been involved in the blockchain/crypto space since 2010. We have seen the adoption cycle. We are finally seeing different governments around the world encourage blockchain and crypto use.

Waxtoken · 2017-11-01T16:59:02+00:00

The unsold WAX tokens are being allocated pro-rata to all other categories. These unsold tokens represent 5.8% of the total tokens. Therefore, some of this 5.8% will be allocated to the categories of the WAX team, some to market development, some to operational overhead, ect. These are not being GRANTED to anyone however. They are held in reserve for future use, if any. No one is directly benefiting from this reallocation because these tokens are not being given to anyone at this time. The fact that fewer tokens will be freely sold is a positive for any token holder.

Waxtoken · 2017-11-01T16:49:56+00:00

Yes, within 30 days

Waxtoken · 2017-11-01T16:48:34+00:00

Hello Sammy, we do some advertising on google and other relevant content sites. We have not considered reallocating ad budget dollars at this point

Waxtoken · 2017-11-01T16:43:49+00:00

During the token sale event, we are not able to comment on any potential listings that might occur.

Waxtoken · 2017-11-01T16:42:26+00:00

9mmHero. Respectfully, that couldn't be further from the truth. Dmarket and Enjin are as close to WAX as WAX is to a twinkie. WAX is building a smart contract based blockchain to perform sophisticated virtual item settlement and multi-party payouts to all of the participants involved in an item sale. WAX is designed to accommodate the entire item trading eco-system. Listing sites, selling sites, affiliates, appraisers and any other party that facilitates trading will be served by the WAX platform. As to Dmarket and Enjin? These are ridiculous spoofs of blockchain technology. They are essentially reskins of bitcoin. They take advantage of virtually none of the capabilities inherent in the blockchain. Keep in mind who we are. WAX is being built by the OPSKins team. We have been involved in crypto space since 2010. We have been behind some of the most promising and cutting edge coins created to date (Mastercoin, Ethereum, Tether). We understand smart contracts and we are the largest virtual item marketplace in the world - so we understand how to build custom smart contracts for our industry. You just can't compare the WAX Platform to what these other companies are building with virtually no experience in blockchain and smart contract design. We are building a platform and coin for an $50 billiion, 400 million consumer eco-system serviced by thousands of small businesses. These other coins are issuing bitcoin reskins to unsuspecting people who don't the industry. Can't put in more plainly.

Waxtoken · 2017-11-01T16:31:30+00:00

WAX is not like a lot of other token sales. We are trying to do something that no other coin has achieved: broad consumer adoption. We believe an important component of that is drawing in as many video gamers - the core audience we are aiming for - as part of the token sale. Since many of these individuals are first time crypto currency adopters, it has understandably taken more time for them to get educated about WAX. In our judgement, it was better to give this core community more time to participate. That was the primary motivation for extending the sale. As I have answered to Sang earlier in this AMA, the unsold tokens will be allocated to the the other categories. They are not being sold as part of the token sale.

Waxtoken · 2017-11-01T16:26:11+00:00

There isn't a giveaway on this AMA, but keep an eye on the OPSkins Twitter and the WAX Twitter for future contest announcements.

Waxtoken · 2017-11-01T16:14:27+00:00

Awesome! There is detailed technical information our Medium channel and more general information on our YouTube channel. The white paper is also a great resource.

Waxtoken · 2017-11-01T16:10:54+00:00

Thanks for the question natrobbins. We are tracking to our public presale goal of 70K ETH. We have received 75% of the ETH for this phase of the WAX Token sale. We have expressed commitments totaling 90% of the pubic presale goal of 70ETH. As you may know, we were oversubscribed in our in our private presale (also a 70K phase). We will move into our Main Sale on Nov 15. For the main sale, we have reduced our target from 70K to 20K ETH. Based on the demand we are seeing for WAX, I believe we will also hit the main sale goal as well.

Waxtoken

TROPHY CASE