The WAX token evolution by Malcolm CasSelle
Malcolm Casselle is the president of Worldwide Asset exchange (WAX). Malcolm studied at Stanford University and graduated with a bachelor’s degree in MIT and masters. In his early life, he moved on to be an international entrepreneur and chief technology officer at presidents of New Venture, formerly known as (Tribune publishing). He joined Sea Change international in 2015 where he serves as the senior vice president and General Manager of the Digital media company. Formerly, CasSelle led up most of the startups in the digital industry investing in companies like Facebook, Media pass-an online paywall designed to generate subscription-based revenues for digital content.
He also had partnerships with Xfire a gamer social network and Groupon’s joint adventure with Ten cents in China. During his early years, Malcolm was a founder of PCCW a publicly traded telecom based in Hong Kong China currently valued at $35 billion. In his early years, Malcolm helped raise capital for PCCW public offering and hundreds of millions for other private transactions.
The power of tokenization in gaming items has been initiated through the recent creation of WAX, a decentralized platform that enables anyone to participate in the marketplace for virtual game assets. This has well come with quite some advantages including, fractionalization of player profits from centralized exchanges, reduction in transaction cost, and creation of marketplaces for games which were previously not able to transfer assets. Tokenization enables one to own virtual assets and even create a new more accessible economy with the potential to expand into physical assets.
WAX will also help solve the biggest problem facing tokenization which has been to monitor and ensure that tokens on the blockchain remain connected to their assets. WAX make this possible by putting in place a multi-layered governance approach which creates regulatory oversight by token holders themselves.
WAX will also see the fractionalization of physical assets which will lead to opening up of new possibilities by fans and collectors. This is through Guilds that ensure authentication of information and monitoring of ownership while the transfer agent focuses on asset delivery. This will ensure that tokens are allocated to their rightful owners.