WAX Price

WAX (WAXP) is a cryptocurrency that serves as the native token of the WAX blockchain. It powers the entire WAX ecosystem, which specializes in NFTs, gaming, and digital collectibles. Currently ranked #669 with a price of $0.0114, WAXP has seen a +6.94% change in the last 24 hours. WAXP is essential for various functions within the WAX ecosystem, including: • Facilitating NFT trades and transactions • Staking for network security and earning rewards • Participating in governance decisions • Powering play-to-earn gaming experiences • Supporting the metaverse and digital collectibles market With a circulating supply of 3.5B WAXP and a market cap of $39.94M, WAXP has established itself as a key player in the blockchain gaming and NFT space since its launch in December 2017.

WAX was created in 2017. It was founded by William Quigley and Jonathan Yantis as a blockchain platform specifically designed for digital collectibles, NFTs, and gaming. Since its launch, WAX has established itself as a key player in the digital asset ecosystem, focusing on providing a user-friendly environment for virtual item trading and NFT marketplaces.

WAX was founded by William E. Quigley and Jonathan Yantis. Both founders have extensive experience in the crypto industry and backgrounds in the entertainment sector. Quigley previously worked with Disney and Eurodisney, while Yantis co-founded the first digital assets marketplace. Together, they established WAX with the vision of creating a blockchain specifically designed for digital collectibles, NFTs, and gaming applications.

WAX operates on a delegated-proof-of-stake blockchain designed specifically for digital goods and NFT marketplaces. The WAXP token serves multiple functions within the ecosystem: 1. Staking: Users stake WAXP to secure the network, validate transactions, and earn rewards. 2. Governance: Token holders can participate in protocol decisions through voting. 3. Transaction Fees: WAXP is used to pay for transactions on the blockchain. 4. NFT Trading: The token facilitates buying, selling, and trading of digital collectibles and virtual assets. 5. Cross-Chain Compatibility: WAXP can be wrapped for use on other blockchains, enhancing interoperability. The network's architecture includes a microservice layer that provides specialized infrastructure for building and scaling digital marketplaces. This design allows for high transaction throughput with minimal environmental impact, making it particularly suitable for NFT gaming and collectibles platforms. Currently valued at $0.0114 with a market cap of $39.94M, WAXP continues to evolve as a key infrastructure for the digital collectibles ecosystem.

WAX operates on a purpose-built blockchain architecture using Delegated Proof-of-Stake (DPoS) consensus mechanism. This design enables WAX to achieve impressive performance metrics, including 500-millisecond block times and zero-fee transactions for users. The technical infrastructure was specifically optimized for e-commerce applications, with custom features and incentive mechanisms that encourage network participation through proposal voting. The WAX blockchain includes a comprehensive suite of development tools that support the creation of decentralized applications (DApps) and non-fungible tokens (NFTs). Its architecture prioritizes transaction speed, security, and simplicity - making it particularly well-suited for digital collectibles, gaming assets, and other virtual goods. The network's technical design focuses on scalability and user experience, allowing it to handle the high transaction volumes required for mainstream adoption in the digital marketplace ecosystem.

WAX has a promising future roadmap focused on expanding its NFT and gaming ecosystem. The project aims to enhance its blockchain infrastructure for better scalability and interoperability in 2025 and 2026. Key upcoming developments include: 1. Improved cross-chain functionality to connect with other major blockchains 2. Enhanced developer tools to attract more dApps and games 3. Expansion of the NFT marketplace capabilities 4. Further integration with metaverse projects With its current price at $0.0114 and market cap of $39.94M, WAXP is positioned to grow as the NFT and gaming sectors evolve. The team continues to build partnerships with gaming studios and content creators to increase adoption. The roadmap also includes sustainability initiatives and governance improvements to ensure long-term viability in the competitive blockchain space.