### What is WAX?

WAX, or the Worldwide Asset eXchange, is a decentralised platform designed to enable the creation and operation of virtual marketplaces for digital assets. It is particularly focused on the gaming industry, facilitating the trading of in-game items, digital art, NFTs, and other collectibles. WAX aims to create the largest peer-to-peer marketplace emphasizing decentralisation, transparency, and efficiency.

### How does WAX work?

WAX operates as a blockchain using the Delegated Proof of Stake (DPoS) consensus mechanism. This allows users to delegate their voting power to selected block producers, known as WAX Guilds, which validate transactions. It features fast block production times (500 milliseconds) and zero transaction fees, making it suitable for handling a high volume of transactions. WAX also supports interoperability with other blockchains like Solana and Polygon, and its compatibility with EOSIO facilitates smart contract integration.

### What are the potential use cases for WAX?

WAX has several potential use cases:
- **Gaming:** It enables secure, low-cost trades of in-game items and other virtual goods.
- **NFTs:** WAX is used for creating, trading, and managing digital collectibles.
- **Virtual Marketplaces:** Users can create and operate their virtual marketplaces for digital assets.
These use cases extend to industries like digital art and e-commerce, enhancing transaction efficiency and security.

### What is the history of WAX?

WAX was founded in 2017 by William Quigley and Jonathan Yantis. It launched through an ICO in 2017, significantly contributing to its funding and token distribution. Since its inception, WAX has partnered with major brands and developed into a leading platform for NFTs and blockchain gaming. It has pioneered integrating NFTs with physical products and maintained a strong community of developers and artists contributing to its ecosystem.

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