As we approach the new year, we’re excited about our next giant leap forward into decentralizing the WAX Blockchain's service layer with WAX ExpressTrade.
WAX is a blockchain, and blockchains should be decentralized. Decentralization means that no single entity controls it, to create a fair and transparent system (among other benefits). WAX's first step towards decentralization was launching the WAX Blockchain mainnet in June 2019. We reached another decentralization milestone in November by fully decentralizing block production.
As part of our path towards full decentralization of all WAX services, WAX ExpressTrade will move to the WAX Blockchain mainnet (it is currently running on the beta chain) and will operate in a fully decentralized fashion. The decentralized version of WAX ExpressTrade will go live in the beginning of Q1.
In the meantime, we’d like to share three convenient new features and services for holders of both WAXP Tokens and WAX NFTs like VGO Skins, WAX Stickers, WAX Digital Art, and WAX Collectible Cards.
You can now:
- One-click transfer all your WAX NFTs to the WAX Blockchain
- Convert WAX Keys to WAXP Tokens in your WAX Cloud Wallet
- Sell and transfer your WAX NFTs on dApp marketplaces like SIMPLE MARKET
Read on for more details.
1. One-click transfer all your WAX NFTs to the WAX Blockchain
Send your NFTs to your WAX Cloud Wallet (WCW) in just one click. Do you own VGO Skins, WAX Stickers, and other non-fungible tokens on the WAX Blockchain? Simply visit your OPSkins Inventory and click the orange “Send to WAX Blockchain” button beneath your item to send them to your WCW.
You can view your NFTs in your WCW now, and more functionality for NFTs in WCW is coming soon.
Please note that WCW automatically detects any WAX Keys in your inventory, so there’s no need to transfer them to the WAX Blockchain.
2. Convert WAX Keys to WAXP Tokens in your WAX Cloud Wallet (WCW)
Own WAX Keys? You can now convert WAX Keys to WAX! In fact, we’ve made it easy to turn them into WAX Tokens in just a few clicks directly from your WCW.
What are WAXP Tokens? WAXP Tokens power the WAX Blockchain and you can use them to earn more WAXP Tokens, called WAX Staking Rewards, by voting for WAX Guilds (parties that perform blockchain functions). It’s easy to earn WAX Staking Rewards, the process takes just a minute or two, and you can unstake your tokens at any time. Instructions for staking are here. You can also use your WAXP Tokens to interact with dApps, like playing games, mining, and buying in-game items.
Converting WAX Keys to WAXP Tokens is easy, and since WCW automatically detects any WAX Keys in your inventory, there’s no need to transfer them to the WAX Blockchain:
- Log in to your WAX Cloud Wallet
- Click "Add WAX"
- Click "Convert WAX Keys"
- Enter the number of keys you wish to convert and click "Convert to WAX"
That’s it! You now own WAXP Tokens and can start earning WAX Staking Rewards with them.
3. Sell and transfer your WAX NFTs on dApp marketplaces like SIMPLE MARKET
You can now buy, sell, transfer, delegate, and offer your WAX NFTs on simplemarket.io, a convenient marketplace dApp.
To transfer your WAX NFTs to another WCW, simply:
- Visit wax.simplemarket.io
- Log in with your WAX Cloud Wallet account
- Click My Assets
- Select an NFT and choose whether to sell, transfer, delegate, or offer your NFT. Then enter the recipient’s account name and memo, and click “Push Transaction”
What are your fellow WAX NFT owners selling on SIMPLE MARKET? Click here to browse and buy.
Developers, take note
The opportunities for building a new business on the WAX Blockchain are endless. You can start using VGO Skins and other WAX NFTs in your dApp today, and you can create NFTs on the WAX Blockchain using the Simple Assets smart contract (documentation available here).
As we approach the next steps in the evolution of WAX and blockchain technology overall, we are excited to see how the community develops new products and services on the WAX Blockchain. Fully decentralizing services opens up enormous opportunities for community members and developers to create and market their own services to gamers and item traders.
Visit the WAX Developer Hive for all our developer resources, and join our communities to stay up to date on WAX developments: