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WAX - Everything you need to know about WAXP Token

WAX is the most complete, climate-friendly NFT ecosystem. So how does WAX work? Learn more about WAXP Tokenomics here!
Published Jul 26 2019
Updated Jul 19 2023
5 min read

In this article, we would like to introduce WAX known as the most complete, climate-friendly NFT ecosystem. We'll be covering the following topics:

  • What is WAX? How does WAX work?
  • WAX Tokenomics and How/Where to earn and store WAX tokens?
  • Roadmap & Updates.
  • Team members, Investors, and Strategic Partners.

Let's explore the potential of WAX!

What is WAX?

WAX was purposefully built to be the most complete, climate-friendly NFT ecosystem in the industry for leading brands, artists, creators, and developers looking to leverage the power of the blockchain.

It is a blockchain and protocol token specifically designed to make e-commerce transactions safer, easier and faster for all participants.

website wax

WAX Website:

How does WAX work?

The main activities of WAX are mainly based on W.A.S.P. Strategy.

The W.A.S.P. Strategy on the WAX Platform captures the power that a dApp (Decentralized application) may use and quickly build to reach both existing and new WAX users. The WAX Platform is made up of the following components:

  • WAX Blockchain.
  • Decentralized Marketplace (like to Amazon).
  • Virtual Item Trading and Generation (akin to Steam).
  • Decentralized Wallets (similar to PayPal).

The WAX Platform provides users with a full array of blockchain-based solutions by combining the WAX Protocol Blockchain and the microservices layer. The WAX Platform is a secure and convenient way to create, buy, sell, and trade virtual goods with anyone, anywhere.

Run your own Virtual Market: WAX allows millions of users to create their own virtual stores without having to invest any capital into infrastructure or build payment channels.

Transfer agents: You can become an agent in the platform by reviewing and facilitating transactions, WAX members can earn a significant fee. With more fees, there will be more money to use and access to the entire ecosystem.

Appraisers: Members of WAX who are long-time and experienced players of any game can participate in the evaluation and evaluation of the value of items sold on the platform. There will be certain rewards for those who have good assessments and assessments, which are voted by many.

how wax works

WAX has many advantages over traditional methods, creating many attractive use cases for users.

What is the WAXP token?

WAXP is the utility token of the WAX ecosystem.

Detailed information about WAXP Token

WAXP Key Metrics

  • Token Name: WAX.
  • Ticker: WAXP.
  • Blockchain: WAX Blockchain
  • Token Type: Utility Token.
  • Chain ID: 1064487b3cd1a897ce03ae5b6a865651747e2e152090f99c1d19d44e01aea5a4.
  • Total Supply: 3,770,303,327 WAX.
  • Circulating Supply: 1,869,734,785 WAX (49% of total supply).

WAXP Token Allocation

  • Token Sale: 35% (647,500,000 WAX).
  • Market Development: 30% (555,000,000 WAX).
  • Contributors and Advisors: 15% (277,500,000 WAX).
  • WAX Team and Founders: 20% (370,000,000 WAX).

wax token allocation

WAXP Token Allocation.

WAXP Token Release Schedule

Founders and the development team received 20% of the supply with a six-month lockup period.

WAXP Token Sales

WAX conducted a token sale via ICO:

  • Price:  $0.32 per WAXP.
  • Raised Fund: $9,600,000.
  • Time: November 15th to November 29th, 2017.

WAXP Token Use Cases

  • Staking and Rewards for Guilds: Users stake WAXP to have the right to vote for guilds and receive voting rewards.
  • In-platform currencies: WAXP can be used to buy and sell NFTs in many dApps and marketplaces.
  • Transaction fee: WAXP is used as a gas fee within the WAX Blockchain network.

How to get WAXP Token

With WAX Staking Rewards, token holders can earn extra WAX Tokens every day simply by voting.

How to buy WAXP Token 

You can buy WAXP on listed exchanges such as Binance, Huobi,,... 

How to store WAXP Token


WAX Roadmap

WAX does not announce a specific time in the roadmap, mainly information about product features and technology innovations in the time to come.

  • WAX Product0.
  • WAX Cloud Wallet Mobile.
  • WAX provides everything a brand needs to launch a successful NFT collection — from games and dApps to exchanges, digital marketplaces, and more. 
  • Mass Adoption.
  • Accessibility to WAXP in WAX Cloud Wallet.
  • WAX Product.
  • WAX Cloud Wallet 3.0.
  • Development.
  • DeFi Completion.
  • revamp.
  • New Product.
  • One-stop for WAX NFTs.

Team, Investors, and Partners


  • William Quigley -  CEO of OPSkins and WAX, William holds a Master of Business Administration degree from Harvard University and a Bachelor of Accounting degree at the University of Southern California. In addition, William is also supporting the development of many companies in the cryptocurrency market, such as Tether, GoCoin, Mastercoin.
  • Jonathan Yantis - CEO of WAX and OPSkins.He joined the management of the Internet gaming company Entertainment Entertainment - a giant in the gaming industry. He is also a Bitcoin miner and a member of the management team of Mastercoin.


WAX initially received 70,000 ETH in its pre-sale with the assistance of strategic partners including Pantera Capital, Alphabit Fund, HyperChain Capital, and Crypto Asset Management. And over 36,000 people around the world register for the token sale which concluded November 29th, 2017.


wax partners

WAX connects with many reputable partners

Is WAX (WAXP) a good investment?

There are three reasons why I believe WAX is a good investment:

  • WAX's platform currently has over 110 games, including famous games such as Alien Words, AtomicMarket, and Farmers World.
  • WAX is a pioneer in the field of NFT and GameFi Infrastructure. The project is based on solid technological foundations and targets one of the blockchain ecosystem's most potential niches: the NFT and GameFi sector.
  • The demand for WAX will rise in the future as the WAX ecosystem attracts users who use WAX tokens as in-game currency or transaction fees.

gamefi on wax

GameFi built on WAX - Source: DappRadar

But generally, I recommend instead of “investing much in crypto,” invest your time in gaining knowledge in the domain to distinguish great tech from crap. This is the best investment, which I believe will make you rich and prosperous.

Disclaimer: All the information in this article is only for information purposes and should NOT be considered investment advice. Investing in Crypto contains hugely high risks, and you should only invest the fund you are willing to lose.

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Ronin Network (RON): An Ethereum-linked sidechain made specifically for blockchain gaming built by Sky Mavis - A company behind Axie Infinity. 


So I have provided you with the latest information from WAX. If you're interested in other NFT platforms besides WAX, please leave a comment below. Coin98 will research the projects and publish articles about them.

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