WAXE
Crypto Overview
Purpose and Utility
WAXE is the economic token of the WAX (Worldwide Asset eXchange) blockchain platform, specifically designed for NFTs, gaming, and digital collectibles. The token serves as a bridge between the WAX blockchain and Ethereum, allowing users to move assets between these networks.
Business Model
The WAX ecosystem focuses on facilitating the creation, buying, selling, and trading of NFTs and virtual items. The platform emphasizes transparency in transactions and provides infrastructure for digital collectibles and gaming assets. The business model revolves around legitimate asset exchange and doesn't involve inherently prohibited activities.
Real-World Adoption
WAX has established partnerships with major brands like Topps, Capcom, and Atari for NFT releases. The platform has processed millions of NFT trades and hosts various decentralized applications. WAXE specifically serves as the economic bridge token enabling cross-chain functionality.
Platform Development
The WAX blockchain maintains active development, with regular updates and improvements to its NFT and gaming infrastructure. The platform shows consistent activity in terms of NFT trading volume and user engagement.
Token Distribution and Governance
WAXE tokens are created through a conversion process from WAX's native WAXP tokens, with a transparent mechanism for cross-chain transfers. The token distribution appears reasonable, with no concerning concentration among founders.
Crypto Impact
To assign a comfort level investing in WAXE from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to WAXE.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.