Why is WAX The Best Place To Launch a Blockchain Game?
WAX is a layer 1 blockchain purpose built for digital asset trading. The chain itself is fast, eco-friendly and cheap for users to transact on. The team at WAX are heavyweights in the blockchain and digital item trading space being run by former OPSkins CEO (William Quigley) and COO (Jonathan Yantis), OPSkins was the world's largest marketplace for safely and securely buying and selling digital items like gaming skins, they also either co-founded or invested in some of the most successful blockchains in existence today, Tether and Ethereum to name a couple.
As stated by William Quigley, WAX have always been building with the "Ready Player One" future in mind and it is already seeing serious traction from both large brands and indie developers launching projects on WAX. It processes more transactions per day than any other blockchain by an order of magnitude.
The active user base and purpose built chain have meant WAX is ideal for launching blockchain games that use NFTs (Non-fungible tokens) and also fungible tokens that can be used to help fuel the gaming economies on WAX.
What is a Gaming Token and how does it work?
Put simply a gaming token operates like an in game currency but rather than the ledger that records ownership being in a centralised database it is recorded on an open blockchain as a token, it can be traded freely on any market that supports the blockchain.
Earning the token is usually achieved through things like selling NFT's, staking NFTs, payment from other players or the game for using your NFT's (E.g. Land), completing actions and winning games, loyalty etc.
Spending the token can typically be done by things like purchasing NFT's or digital goods, purchasing other tokens, using it to buy in game actions (kind of like how most mobile games allow you to buy your way through if you can't be bothered playing your way through..), that is the beauty of using a programmable blockchain, the possibilities are endless.
What are the Top Gaming Tokens on WAX right now and how can you get them?
Please note: These are mainly new tokens/projects, the prices can move up and down VERY quickly for these tokens so the safer way to acquire them is typically to participate in the games you like early to earn them and not spend more than you are willing to lose when playing. The other way is to buy them but as with any crypto investment, make sure to research the team, vision and tokenomics before you buy.
So as mentioned you can usually participate directly in the games to earn tokens or if you just want to speculate on the value they are creating/going to create for their token you can trade those tokens on an exchange. For WAX the major exchange is currently the Alcor decentralised exchange(DEX): https://wax.alcor.exchange/markets
To sign in to trade Alcor has integrated all of the popular WAX Wallet options like WAX Cloud Wallet, Anchor, Ledger etc. and the market operates just like any exchange. Just watch out that liquidity can be very low for these tokens so market price buys are not recommended, you should nearly always use limit price buys.
Below are the top 10 tokens by volume against WAX on Alcor in the last 7 days, I'm showing volume and price change as other metrics are harder to come by at this early stage (like market cap) and without trading on an exchange against a hard currency like WAX it is hard to see a real world value.
Project links below, as mentioned DYOR! Playing the game to get a feel for it is likely the best option. The liquidity can be very low and in terms of the token demand you are at the whim of the tokenomics, gaming mechanics and general hype and activity for the project. As you can see above these tokens can have massive price swings.
Another project on WAX that is the OG of WAX tokens is Nifty Wizards and their innovative $DUST token, other projects to keep an eye on are Uplift World and Colonise Mars which should both have tradable tokens in the near future.
