Worldwide Asset eXchange (WAX) is a program that serves as a fully operational virtual marketplace for virtual game assets. Anyone can take part in the asset exchange without any stake in payment processing, security or infrastructure. WAX reveals the power of tokenizing in-game items which facilitates the creation of new assets and ownership of virtual assets. However, tokenization has been faced with a challenge of determination of ways to control and guarantee tokens’ permanent attachment to their assets. Tokens remain attached to their assets based on the Guild’s reputation.
Guilds together with transfer agents, a substitute proof of stake consensus algorithm, and several rating systems are part of the virtual asset exchange process. Guilds are the supervisory panels for transfer agents that ensure the agents execute their duties. Future incorporation of physical assets into Worldwide Asset eXchange will enhance security as the frequently traded assets will be converted to infrequently bought tangible assets. Also, WAX is planning on establishing a new network of assets that were not exchangeable before.
Malcolm Casselle is the President of WAX as well as CIO of OPSkins. He is the former President and Chief Technology Officer (CTO) of Tronc which was formerly known as Tribune Publishing. The company deals with digital assets. Before joining Tronc, Malcolm was the General Manager and Senior VP of Digital Media at SeaChange International. He has also previously served at Capital Union Investments in the position of a Director. At CUI, Casselle achieved successful development of private direct investment into last stage web companies.
Malcolm was the CEO of Xfire which is an international social network consisting of over 22 Milion members who play video games. He has also ventured into entrepreneurship and is the co-founder of NetNoir. NetNoir is the first non-local corporation to be admitted into the AOL Greenhouse Program. Casselle also pioneered startups such as MediaPass which is a digital subscription solution provider to media companies where he held the position of a CEO.
Casselle holds a master’s degree from Stanford University. He attained his Master’s accreditation after graduating from MIT with a computer science degree.