WAX: The Most Active Gaming Chain

According to our report, State of Crypto Gaming, WAX is the most popular chain in terms of active users, largely due to Alien Worlds. Although many people are aware of WAX as an NFT-specific chain, few are aware of the games offered or their user demographics. Hence, this research piece aims to better understand WAX, its go-to-market strategy, and its gaming ecosystem.

In 2017, WAX raised more than $80 million through initial coin offerings (ICOs) and private sales. Concurrently, the founders (William E. Quigley, Jonathan Yantis, and John Brechisci) were running an online marketplace, OPSkins, where users could trade game skins. OPSkins' trade volume was largely driven by game skins from Counter-Strike: Global Offensive (CG:GO).