The team at Worldwide Asset Exchange (WAX) is delighted to announce the completion of their Token Generation Event, selling out an allocation of 54,000,000 tokens at a value of over $80 million. “No small feat in a crypto market where companies are finding it harder than ever to complete their token sales,” says WAX President Malcolm CasSelle.
The environment over the past several months has been volatile, to say the least. Malcolm CasSelle and the team were both carefully monitoring how the market changed and the impact it had on their own token sale.
Sales began incredibly fast in October then began to slow down in November as the market became busier with many Token Generation Events launching around the same time.
However, WAX wasn’t just any other token… and contributors recognized this early on. Since WAX has a real-world use case that solves the everyday problems of hundreds of millions of gamers around the globe, CasSelle emphasizes that demand to contribute to the WAX Token Sale was incredibly high. This was bolstered towards the end of the sale by a very favorable Bloomberg piece, followed by a televised recommendation from billionaire hedge fund manager Mike Novogratz which helped CasSelle and WAX get over the line. “We had no doubts that we would sell out of tokens even in a fiercely competitive market, and are thrilled to have completed our goal,” Malcolm says.
One reason the sale went so well was that the team had a focus on community from day one. WAX was designed with the gaming community in mind and held a pre-sale period exclusively for OPSkins customers. Many of the participants during this phase of the sale were first time crypto users, proving the belief that WAX is the onramp to mass adoption. There are 100x as many gamers trading digital items as there are crypto wallet holders, and WAX bringing an influx of trading-savvy young people from around the world into the crypto space has the potential to generate mass adoption for cryptocurrencies.
In addition to this, CasSelle ensured WAX was known in the blockchain community, with our CEO William Quigley speaking at the likes of Blockcon and Coin Agenda. He utilized Reddit, Telegram, Slack, Discord , and had a busy Medium blog to inform potential buyers on every aspect of the project, from technical details to practical token information and everything in-between.
WAX has a truly innovative use case for blockchain technology, an idea validated by their private pre-sale of 70,000 ETH selling out, followed by their public pre-sale of 70,000 ETH doing the same.
The foundation for this success was CasSelle’s relationships with those who saw the vision of what he was trying to do and wanted to be part of it. The companies he partnered with during the campaign reads like a “who’s-who” of notable cryptocurrency and investment experts including Hyperchain Capital, Pantera, Galaxy Investment Partners, Fenbushi Capital, Kenetic Capital, Blockchain Partners Korea, Distributed Global, Founder of Data Collective, Crypto Asset Management, Alphabit’s Digital Currency Fund, Kyber Network, Blockchain Investment Club, Science Blockchain, Cryptonomos, ValueNet Capital and Signum Capital.
Partnerships they created during the campaign were designed so that they had direct relationships with companies which can bring WAX’s idea to market swiftly and effectively. These included partnerships with Bancor, which allows WAX token users to receive token liquidity and a direct integration with Kyber Network, which allows ERC20 token holders to purchase items on both WAX and OPSkins, the largest marketplace for trading virtual goods in the world.
Two weeks ago, the announced a partnership with internet payments giant Xsolla. Industry leaders like Twitch, Valve, and Ubisoft use Xsolla as do over 2,000 games. By accepting WAX Tokens, Xsolla will help bring the platform into the mainstream among the 400+ million strong gaming community.
This has been an incredible journey for CasSelle and the rest of the team, and they have many people to thank.
WAX had an incredible team of advisors who realized our potential and jumped on board to help. As WAX bridges the gap between gamers and cryptocurrency, the team is committed to bringing in the sharpest and most established minds in the respective industries working with them to make it happen.
On the gaming side, their advisors include Dave Anthony, the “Call of Duty” creator and developer, Brian Fargo, the founder of Interplay Entertainment, and Ken Cron, the former CEO of Vivendi Universal Games (now Activision Blizzard). On the crypto side, their advisors include Anthony Di Iorio, one of the founders of Ethereum, Michael Maloney, former Blockchain CEO at EY, Michael Terpin, Founder and CEO at Transform Group, Aaron Voisine, Founder and CEO of Breadwallet, and Scott Walker. They send special thanks to Stelian Balta for all of his support throughout this process.
“This dream team enabled us to get respect from the respective gaming and communities; we knew gaining credibility tied with a great white paper and product vision would be our keys to success,” says CasSelle, “Most of all we’d like to thank everyone who purchased tokens from us throughout the campaign.”
Once distributed, WAX tokens can be used immediately on OPSkins.
“This is just the beginning of what we believe will be a revolutionary product and opportunity to bring together the gaming and cryptocurrency communities,” CasSelle enthuses, “we look forward to bringing the product to life!”