Virtual markets are rife with security problems and fraud. The use of centralized marketplaces leads to risk of incomplete assets and delivery problems. Blockchains can prevent this however. A blockchain is a continuous list of records linked using cryptography. The blocks record business transactions, establishing validation for transactions in a peer-to-peer networks. Centralized marketplaces use various intermediaries to prevent fraud, but it drives up costs. Decentralized markets get rid of third parties, but are way more susceptible to fragmentation and fraud. Using blockchains the WAX platform developed by OPSkins, and pioneered by Malcolm CasSelle, is creating a safer environment for players to conduct business, and the result may very well mainstream cryptocurrency.
WAX solves fraud problems for the virtual asset industry, eliminates the need for intermediaries, and allows for tokenization of assets for cross game sale. Using smart contract backed by blockchain technology the P2P market allows transactions to occur between players. Blockchain smart contracts ensure the complete and full delivery of goods, ensures that both buyers and sellers adhere to their contracts, and reduces cost. Also, by operating in a decentralized market the assets do are not relegated to the game they come from. As there are many forms of cryptocurrency the act of tokenizing virtual goods allows players to sell outside of the games. It is the definite future of the market and one CasSelle has been advocating for some time.
CasSelle, CIO of OPSkins and current president of WAX, was an early stage investor in Bitcoin. He has been at the forefront of cryptocurrency for years. His early investment paved the way for OPSkins to become the number one Bitcoin merchant on the planet. As an advisor and mentor CasSelle helps numerous investors navigate the cryptocurrency market.
CasSelle is also a graduate of MIT and Stanford, with a bachelor’s and master’s in computer sciences. Prior to OPSkins he served as a top executive of numerous companies most recently as CTO and President of new ventures at Tronc Inc. Under his stewardship OPSkins has grown to a top global seller of virtual goods.