Michael Novogratz and Galaxy Investment Partners Invest into Worldwide Asset eXchange
| Updated by Anastasiya Vanyukevich · 3 min read
Michael Novogratz and Galaxy Investment Partners have invested into the huge and under the radar Worldwide Asset eXchange (WAX), which looks to disrupt the $50 billion ‘gaming skins’ market.
Mike Novogratz, a somewhat legendary figure, former macro hedge fund manager at Fortress, and Galaxy Investment Partners, have invested into Worldwide Asset eXchange (WAX), a new decentralized marketplace that will serve people trading video game assets.
This investment is the first reported one made by the fund since its creator announced coming out of retirement in an interview with Bloomberg last month. Since then the expert also made headlines, predicting that Bitcoin price will jump to $10,000 in next six to ten months.
WAX, a decentralized blockchain platform for the development of secure and transparent online in-game virtual item exchanges, is now under radars. It’s been created by OPSKins.com, the largest existing marketplace for trading video game assets with millions of users and over 200,000 joining the platform each month.
“Having a legendary investor like Mike Novogratz along with all of our all-star team of investors, advisors, and video game industry legends see the potential in our vision for the WAX platform is an incredible testament to what we have planned,” says Malcolm CasSelle, President of WAX and CIO of OPSkins.
Worldwide Asset eXchange has already announced its public token pre-sale which was launched on October 10, 2017. It’s already known that apart from Galaxy Investment Partners, pre-sale token sale participants include Pantera Capital, HyperChain Capital, and Bo Shen, founding partner of Fenbushi Capital and Blockassets, to help guide the overall direction of the WAX platform.
“With OPSkins, we are the largest marketplace in the world in a $50 billion dollar a year industry. The WAX platform will allow millions of our users and the 400 plus million people each year in this industry to trade in-game virtual items across any country with only a few clicks and very low fees. We see the Blockchain as the future of our industry and we are essentially disrupting ourselves with the WAX platform. In fact, OPSkins will be the first user on the WAX platform.”
Dave Anthony, who stands behind Call of Duty creation, is invited to bring his outstanding expertise to both OPSkins and WAX. He will also guide the company and the platform in facilitating the influx of a potential 400 million new gamers on the blockchain.
“I’ve aligned myself with OPSkins because I trust its vision, and believe the WAX platform will be instrumental in onboarding the immense gaming community on to the blockchain,” said Mr. Anthony. “We’re at a pivotal point where the benefits for gamers and creators is well balanced, and I’m grateful to be a part of the team leading the charge into the gaming world’s newest frontier.”
The WAX platform also has the potential to encourage widespread adoption of cryptocurrency. Today there are just 4 to 5 million active crypto currency consumers across the entire globe. Compared with the 400+ million people who buy and sell skins – a technology savvy group of global consumers who are already well versed in trading, storing and safeguarding virtual items – WAX has a legitimate potential to bring a consumer force to cryptocurrency trading that is 100 times greater than the active cryptocurrency user base.
Being the main author of TheBlogIsMine news portal in the past, Anastasia has significant experience in observing such fields as tech and business. Now she wants to explore a new area – FinTech. Passionate researcher on technology topics eager to know about what's shaping the future – and how to respond.