As the adoption of blockchain solutions increases, we begin to have clarity on amazing opportunities attached to this solution, though some people within the space don't have a clear understanding of how to deal with some problems sighted in the space, that's why the release of article like this can open the understanding of many to the real deal, especially within non-fungible token environment.
When you seek one of the most popular ways to get online collectables, video game assets, or NFTs (Non-Fungible Tokens), WAX is a multi-purpose built NFT blockchain. As a protocol-based project, its current rank on Coingecko is 5th while maintaining the top 200 in the global cryptocurrency market. As of the time of this article, WAX has 14,872,762 accounts within its network and its protocol on a daily basis boasts of +400,000 Daily unique visitors without experiencing a delay in transaction confirmation.
In the NFT space, some of the major problems experienced by the users are high fees, copywriting protection issues, limited creativity for creators, poor user experience in the marketplace and more. These are pain points WAX sighted and introduced a decentralized alternative to the market. With a suite of blockchain-based tools WAX released, users can easily create, buy, sell, and trade virtual items. For the poor experience by the NFT users in the marketplace, the WAX network is flexible enough to facilitate the trading of both virtual and physical items to anyone, worldwide.
It's not a new deal when we talk about scalability problems the majority of blockchain is facing due to multiple users on their chain, WAX network reduces this issue as it leverages a DPoS consensus mechanism to improve scalability and without any delay, it can handle over 15 million daily transactions.
Since WAXP developers introduced a new NFT token standard which is vIRL NFT, it has launched more options that streamline the linking of real-world assets to blockchains which creates huge opportunities for users, especially gamers/players within the ecosystem and opens an easy gateway for Web2 gamers to come in.
Searching through the WAX ecosystem, we have some amazing and interesting projects that connect players/gamers together, rewarding and allowing them to have fun during their time on the network.
Example:
In conclusion, there are a lot of DApps you can interact with on WAX Blockchain, however, do your own research and ask questions before you interact with any. Also, double-check with the social media accounts and ascertain they are still relevant in the WAX ecosystem before your interaction. If you are looking for where to buy WAXP tokens, you can check with Binance or check Coingecko for more exchange.
