Malcolm CasSelle Uses Blockchain Technology to Forge into Decentralized Markets with WAX

Malcolm CasSelle started his career in ’95, with the foundation of his first company NetNoir. A graduate of both MIT and Stanford with corresponding Bachelor’s and Master’s degrees in Computer Science, CasSelle used the next decade to become an international entrepreneur. Always at the forefront of digital innovation CasSelle served in various companies as a top-level executive. In 2017 he arrived at OPSkins as the new CIO. OPSkins soon became a global leader for in-game asset sales, evolving into a multi-billion-dollar institution in just two years.

CasSelle’s interest in cryptocurrency led him to become an early investor in Bitcoin, which led to OPSkins becoming the largest Bitcoin merchant for the planet. He was also an early investor in Zynga and Facebook. Now, CasSelle is the president of new decentralized platform WAX, and is looking forward to the formation of the next billion-dollar company.

In an interview conducted by IdeaMensch, CasSelle spoke about the idea that spurred WAX’s creation. “WAX’s genesis came from successful trade in centralized markets,” CasSelle stated. “It was obvious the future lied in decentralized markets.” Decentralized markets have always been held as the future, but fraud and fragmentation have always plagued them. CasSelle’s inspiration to finally found WAX occurred with what he calls the “Obvious innovation” of blockchain technology. Blockchains create secure transactions buy recording user transaction data in smart lists. Such lists provide reliable information on a user’s reliability. “The blockchain solves the issues of cross-border micro-transactions,” CasSelle says, “If we had not invested in it, someone else would have eventually.”

WAX stands for Worldwide Assets eXchange. It is a P2P market that allows players to trade or sell in-game assets to other players. WAX does not restrict players to just one game however, it allows them to trade assets between games connected to its network. This means that players finally gain a return of investment. WAX’s other innovation lies in tokenization. WAX uses WAX tokens, which convert any physical currency into virtual currency. This cuts out the middleman in transactions and takes away the nuisance of currency conversion. This means no matter the region players can sell and trade for whatever currency they use.