Malcolm CaSelle is a graduate of Stanford University, holding both a MIT and computer science masters from the same institutions. CaSelle is the former Vice president and also manager at of Seachange International, before that, he was Mediapasse’s Chief Executive Officer, Mediapass offered a revenue solution by helping create subscription based digital content cash revenues. CasSelle has also been boss at Xfire, a gamers’ online community with over 22 million users, and has also held top positions at Tencent and Groupons joint entity before co-founding NetNoir, which became the first external company to be accepted into AOL’s greenhouse program. He has also worked in various capacities at Tribune publishing.
WAX (Worldwide Asset Exchange), is a platform enabling anyone to be in the virtual gaming assets marketplace by reducing the transaction costs while creating market for games that were not previously not possible for asset transfer. It would also fractionalize player’s profits and allow virtual asset ownership and pioneer an accessible economy that may be expanded into physical assets.
WAX and Virtual asset bonds
The greatest challenge to tokenization of assets is monitoring and ensuring block chains are constantly tied to their asset. This WAX sorts by creation of a governance approach which is multi-layered to create a regulatory oversight by those who hold tokens. There are supervisory committees (Guild) and rating systems plus an algorithm that is used for proof of stake.
This ensures security since if a rogue transfer agent fails in their duty, the Guild has to step in to protect its reputation by taking action on the agent otherwise token holders will not allow them governorship of their game. This loop of economic feedback ensures that WAX tokens will perpetually be connected onto the virtual asset
Fractionalization of items and value enhancement
Guilds will authenticate items and monitor ownership as the agents deal with asset delivery by ensuring all WAX tokens are in connection with their rightful owners. Those Guilds with high reputation will then increase their products value which will deter sellers from selling without updating the WAX token in the on-chain. This means that value increases in tandem with a networks reputation and its credibility. The question still remains how soon will this move onto the physical asset ownership world?