WAX is proud to announce a WAX and OPSkins’ partnership with KyberNetwork.
WAX, a decentralized marketplace, will allow gamers and non-gamers alike more liberty in their trading of virtual assets. KyberNetwork’s primary focus is fostering crypto-asset liquidity, and simultaneously promoting tokens as tradeable assets to the general public.
The complementary systems both work to facilitate digital asset conversion and trade. While WAX focuses specifically on providing gamers with their own virtual storefronts, KyberNetwork’s “main proposition is to support on-chain and instant trades with guaranteed liquidity.” The partnership enables outsiders to invest in assets located in the OPSkins and WAX marketplaces, while bringing millions of new users to KyberNetwork.
Getting Connected with KyberNetwork
KyberNetwork’s ICO closed almost two months ago, and since then the system has been working diligently to provide greater stability to ERC-20 compliant tokens by immediately processing on-chain orders. Thanks to KyberNetwork, holders of ERC-20 compliant tokens have a greater ability to mitigate cryptocurrency price fluctuation risks through derivative trading.
The network’s partnership with WAX will give its many non-gamer cryptocurrency users exposure to the opportunities in the burgeoning eSports market.
WAX to Expand Cryptocurrency Use 100-fold
WAX will serve as a jumping off point for global cryptocurrency adoption. Presently, only 3 to 4 million individuals across the globe are active cryptocurrency users, compared with 400 million gamers who buy and sell skins online. WAX and OPSkins are set to leverage their massive network with the launch of a gaming-specific token.
Gamers will embrace a cryptocurrency that allows them to engage in cross-border trade without being penalized by governments and financial institutions. Their tech savvy user-base is more likely to be open to cryptocurrency use when compared to other members of the general public.
Symbiosis — Gamers and Tokens
While it’s true that gamers will bring immense growth to cryptocurrency use, the $50 billion eSports market will also expand along with cryptocurrency use. The opening up of a decentralized virtual asset marketplace invites trade and speculation.
Non-gamer KyberNetwork members will see the massive trade volume taking place across WAX, and the rapid market expansion. The unique partnership between WAX and KyberNetwork will be a mutually beneficial relationship that results in greater trade volume and a larger user both for both systems.
Gamers are increasingly likely to hear about WAX tokens over the coming year, as greater numbers of sales are transacted outside of rigid, regulated in-game marketplaces. WAX’s rapid market expansion will attract non-gamers, and the KyberNetwork partnership will introduce millions more.
At the intersection of two rapidly expanding markets, cryptocurrency and eSports, WAX and KyberNetwork’s new partnership will solidify both of their positions as legitimate, secure, promising trade systems.