Worldwide Asset eXchange (WAX), a blockchain enabling users to create, buy, sell and trade NFTs, today announced it has launched a new tokenomic model that allows WAX token holders to directly benefit from WAX’s success in the NFT market.
This model marries the growth of NFTs with the monetization capabilities of DeFi. It enables anyone who participates to earn rewards in the form of Ethereum Tokens (ETH) and WAXG Governance Tokens. Additional information about what the new model involves is available here.
Strong NFT Market Performance
Every primary NFT sale on the WAX Blockchain has sold out in a matter of hours and, in some cases, just a few minutes. NFT secondary trading volume averages 5X more than the primary sales volume on an annualized basis.
WAX NFT partners have included major brands and personalities such as deadmau5, Atari, William Shatner, The Topps Company (Garbage Pail Kids, MLB, etc.), and upcoming ones like Capcom’s Street Fighter. Additionally, independent projects like KOGS, Bitcoin Origins, Blockchain Heroes, Alien Worlds, and more are generating millions of dollars in primary and secondary market revenues on the WAX Blockchain.
New WAX tokenomic design
The core element of the new WAX tokenomics system is its inter-blockchain design.
The WAX Blockchain is purpose-built for NFT transactions and is one of the top-performing blockchains in the NFT space. Ethereum has the best monetary system of any blockchain. The new WAX tokenomic model combines WAX’s operational advantages for creating and trading NFTs with Ethereum’s superior DeFi financialization capabilities.
The WAX Blockchain will continue to perform the core NFT operational functions (i.e., item creating and trading), while the capital generated from WAX NFT commercial activities will be transferred into the vast and growing network of financial services available on Ethereum.