WAX (Worldwide Asset eXchange) is a peer-to-peer marketplace for trading virtual assets that solves two of the biggest problems in the industry, fragmentation and fraud. Users of the current centralized marketplaces are often plagued by issues involving payment processing, language barriers, security, and incomplete asset delivery. The WAX Platform aims to fix those issues by allowing access to the global supply while eliminating the financial risks that hinder the current marketplace. Built on a foundation of blockchain and decentralized smart contracts, WAX allows more efficient trading by “tokenizing” gaming assets into a common currency, thus eliminating issues that arise when goods are denominated in different cryptocurrencies. WAX Tokens act as stored value for in-game items and as smart contracts for buying, selling, renting and trading. It also eliminates the need for intermediaries, who, though vital to stopping fraud, drive up the cost of transactions.
The president of WAX is entrepreneur Malcolm CasSelle, CIO of OPSkins, a global leader in the sales of in-game virtual assets. A natural and gifted communicator, Malcolm holds degrees in Computer Science from MIT and Stanford University, and speaks both Japanese and Mandarin. In 1995, he co-founded and served as CTO of NetNoir, one of the first media production websites to focus on Afrocentric culture. In the following years, he was Senior Vice President and Adviser to the CEO of Pacific Century CyberWorks, a Hong Kong based information and communications company. During those 18 months, he took it from a private startup to a publicly traded company, now valued in excess of $35 billion. As director of Capital Union Investments from 2006 to 2013, he managed private direct investments into late-stage web companies.
Malcolm served as an executive for Groupon China, CEO of Xfire, a global social network for gamers, and CEO and co-founder of Timeline Labs, a social media tracking software company. In 2014, when Timeline Labs was acquired by SeaChange International, he continued to serve as Senior Vice President and General Manager. Since 2016, he has been President and CTO at Tronc (formerly Tribune Publishing), along with his contributions to OPSkins and WAX.