WAX: "The Most Proven Web3 Ecosystem for Games & NFTs"?

Prepare for an extraordinary journey into the realm of Web3 gaming! The advent of blockchain technology has ushered in a transformative era for gaming, unlocking boundless opportunities for gamers, developers, and investors alike. Throughout this series of reports, we will plunge into the dynamic world of Web3 gaming ecosystems, reshaping the very fabric of the gaming industry's future.

In this specific installment, our focus shifts to the WAX ecosystem, a spotlight ignited by our collaboration with DappRadar. Together, we embark on a thorough expedition through the expansive landscape of WAX's gaming universe supported by exclusive insights from Michael Rubinelli, the Chief Gaming Officer at WAX.

Our spotlight illuminates the visionary team propelling the ecosystem's growth, showcasing remarkable projects and partnerships, deciphering the on-chain data, and unveiling the gaming gems that deserve your undivided attention!

Key takeaways

• Even amid a bearish market, the blockchain gaming sector is thriving, with forecasts suggesting a market size that could surpass $74.2 billion by 2031.

• WAX stands out as one of the most utilized blockchains globally, primarily driven by a top game like Alien Worlds

• Its scalability and eco-friendly protocol have attracted interest from major brands like Amazon, Sony Pictures, and AMC Theaters.

• WAX Labs supports non-profit projects, while the Unity3D SDK simplifies game development. The Antelope upgrade enhances Web3 gaming with major scalability improvements.

• Despite less funding than Avalanche or Gala Games, WAX has made strides in establishing a resilient Web3 infrastructure for gaming.

• The historic ‘1-In-10 Million NFT drop’ demonstrates WAX's readiness for mass onboarding

• WAX's partnership with major esports organization Fnatic revolutionized fan engagement and established WAX’s position in e-sports

• WAX's integration with the NFT World Cup 2023 solidifies its position as a leading platform for gaming and NFT engagement.

• WAX consistently demonstrates remarkable performance in blockchain gaming, with a high transaction count and strong user activity. Alien Worlds consistently led in terms of monthly average users, maintaining a strong user base.

• Key insights from Michael Rubinelli demonstrates WAX’s readiness to level up the game

Table of Contents

• Introduction

• WAX Team: The Backbone Of WAX

• But What Is WAX?

• WAX: Sweetheart Of Big Brands

• Why WAX For Games?

• WAX Labs: Empowering Innovation

• WAX's Unity3D SDK: Simplifying Game Development

• WAX Antelope Upgrade: Key To Drive Web3 Gaming Mass Adoption?

• WAX's Multichain Vision: Pioneering Interoperability

• Maintaining Dominance Amid Funding Challenges

• WAX's 10 Million NFT Drop: Demonstrating Mass Onboarding Readiness

• WAX and Esports: Forging the Path to the Future of Competitive Gaming

• NFT World Cup 2023 Expands Its Impact Through WAX Integration

• Deciphering On-Chain Data

• Games To Keep An Eye On

• WAX's Ambitious 2023 Roadmap: Forging Ahead with Innovation

• Exclusive Interview with Michael Rubinelli

• Conclusion

Introduction

Amidst the prevailing bearish market conditions, blockchain gaming remains a flourishing domain, operating in stealth mode. The forecasted expansion of the blockchain gaming market to surpass $74.2 billion by 2031, escalating from $8.9 billion in 2021 and projected with a CAGR of 23.7%, highlights its impressive growth trajectory.

Within this expansive landscape, closer scrutiny of WAX becomes indispensable, given its pivotal role in upholding the broader market, even during bearish macroeconomic trends.

Origins of WAX: Responding to Changing Trends

Before delving into this topic, it is crucial to understand the origins of WAX. Consequently, the discussion of in-game spending is pertinent because OPSkins, the precursor to WAX, leveraged this element to thrive.

Remarkably, global gamers spent around $54 billion on additional in-game content in 2020, a trend corroborated by Credence Research's projection of the global virtual goods market reaching $203.6 billion by 2030, growing at a CAGR of 20.2% between 2023 and 2030.

However, this substantial market value predominantly remains within the grasp of centralized gaming enterprises, which dictate user interactions and payment methods.

Source: Statista

Even in the harsh conditions we were back In April 2023, a skin in Counter-Strike: Global Offensive or CS: GO changed hands for a staggering $400,000, reportedly paid in cryptocurrency. During the same month, CS:GO digital assets fetched an astounding $100 million in cumulative sales.

Therefore, we could observe how the enthusiasm for virtual items is widespread. Around 60% of console gamers, 43% of PC gamers, and 33% of smartphone gamers have purchased such items at some point. This notable inclination drives substantial investments into the virtual item economy, creating a considerable financial impact.

Thriving Secondary Markets

The flourishing primary markets inevitably spawn even more substantial secondary markets. A pivotal reason for the surging interest in collecting in-game items is the potential to transform them into earnings, whether in cash or digital currencies with monetary value. The thriving demand for in-game items on secondary marketplaces underscores gamers' recognition of their worth, even though these transactions often encounter notable obstacles in buying and selling friction.

Source: OPSkin Website

OPSkins, led by the pioneers of the real money trading (RMT) of virtual items, has been at the forefront by establishing a secure and fraud-free environment for buying and selling. This approach led OPSkins to become one of the largest virtual item marketplaces worldwide, serving millions of customers across 95 countries. Nevertheless, OPSkins acknowledges that the current process of acquiring and selling digital items has limitations, indicating the need for further advancements.

Furthermore, the skin-trading platform found itself entangled in a conflict with Valve, as the company blocked trading bots designed to circumvent a seven-day trading hold imposed on items within its marketplace. Late OPSkins Chief Information Officer Malcolm CasSelle believed that Valve's move to hinder OPSkins' trading bots, which were open-sourced and developed over three years, was driven by greed.

WAX Emerges as a Solution

These circumstances led the creators of OPSkins to conceive WAX, or the Worldwide Asset eXchange™ in 2017.

WAX harnesses smart contracts, utility tokens, and blockchain tech to ensure reliability and security in digital item purchases. This approach eliminates counterparty risk while delivering complete transparency to buyers and sellers, thus optimizing inventory availability and facilitating price discovery.

Undoubtedly, WAX represents a leap forward in innovation, leveraging blockchain tech to create a multitude of successful marketplaces and bring trust back to gamers.

A Strategic Move: Disrupting Themselves

If you're questioning whether WAX might be a competitor to OPSkins, your intuition is correct. CasSelle affirms that this was indeed the intention.

OPSkins' Transition and WAX's Dominance

Source: OPSkin

Fast forward five years, and CasSelle’s anticipation has proven accurate. WAX has emerged as a dominant force in the gaming blockchain scene while OPSkins halted its operations on January 24th, 2020.

Furthermore, with nearly 8 billion individuals worldwide and over 3 billion of them actively engaged in video gaming, it's evident that a significant portion of the population is primed for a gamified digital future.

Given the prevalence of gamers accustomed to trading digital items and making digital purchases, the gaming community is the perfect candidate to catalyze mass adoption of Web3. Undoubtedly, WAX stands at the forefront of this transformative shift!

WAX Team: The Backbone Of WAX

In 2017, crypto visionaries William Quigley (the present CEO of WAX and OPSkins) and Jonathan Yantis (the current COO of WAX, renowned for pioneering virtual products as early as 1997) laid the foundation of WAX. Notably, Quigley's legacy extends to co-founding the globally recognized Tether coin. Moreover, a pivotal figure within WAX is Michael Rubinelli, the Chief Gaming Officer, whose career encompasses Walt Disney, EA, Mogul, KIXEYE, Midway Games, etc.

The platform's inception followed an ICO that raised approximately $60 million by the end of 2017. Positioning itself as the premier platform for creating, purchasing, selling, and trading virtual and even tangible items, WAX finds its base in the Cayman Islands.

Leveraging the same team that elevated OPSkins to prominence, WAX amalgamates industry-specific knowledge and proficiency into its framework.

But What Is WAX?

WAX emerges as a dedicated blockchain protocol orchestrated to revolutionize transactions by streamlining speed, convenience, and security. The blockchain aims to create an ecosystem to provide users with the most secure and intuitive method for creating, purchasing, selling, and trading Web3 assets.

Source: DappRadar

Fueled by Delegated Proof of Stake (DPoS), the WAX Blockchain maintains backward compatibility with EOS. The developers have meticulously designed WAX's custom features and incentive mechanisms to enhance the blockchain's functionality, fostering engagement in guild voting and proposal submission.

Harnessing Antelope Framework for Robust Network

At its foundation, WAX utilizes the open-source Antelope framework, formerly EOSIO. This framework encompasses Delegated Proof-of-Stake consensus, C++ smart contract programming, a distinctive resource model encompassing bandwidth and state storage elements, and a smart contract accounts model mirroring account abstraction.

WAX builds upon this core architecture, introducing blockchain-based tools as the bedrock for dapps, marketplaces, and native NFTs. This suite of tools encompasses the WAX Cloud Wallet, SSO, and OAuth services, a native RNG service, and a developer portal.

This amalgamation culminates in a blockchain structure with 500 millisecond block times, near zero fees, and a reward mechanism through voting to incentivize engagement in block producer selection and proposal formulation.

More importantly, these tools harmoniously blend with the foundational protocol, rendering a user experience akin to Web2 within a Web3 framework.

Empowering the In-Game Economy

The decentralized marketplace envisioned by WAX promises reduced risks, heightened liquidity for in-game assets, and the dissolution of geographic barriers. While the current focus is gaming, WAX's adaptable infrastructure is tailored to accommodate diverse applications.

In fact, the project proudly boasts of being one of the world's most utilized blockchains. Their website showcases an impressive daily execution of approximately 23 million transactions and a daily active user base exceeding 700,000.

To put into perspective, as per data from the blockchain explorer PolygonScan, Polygon currently boasts approximately 2 million daily transactions. Its peak daily transaction volume was observed on June 16, 2021, totaling 9,177,310 transactions. Additionally, the network witnesses around 300,000 daily active wallets engaging with its ecosystem, with the highest recorded at 782,186 addresses on October 13, 2022.

WAX extends its offerings to users through an extensive array of dapps and a diverse collection of marketplaces. While embracing a spectrum of NFT marketplaces, WAX is the thriving hub for premier blockchain games like Alien Worlds, Farmer's World, Prospectors, and other Web3 games.

WAX: Sweetheart Of Big Brands

WAX's allure extends to many prominent players in various sectors. The scalability and eco-friendly nature of the WAX protocol make it an enticing choice for major brands seeking to establish their presence.

Even retail behemoth Amazon showed keen interest in WAX by investing in DIBBS, a real-time fractional card market harnessing WAX's vIRL NFT tech.

Notably, Sony Pictures and AMC Theaters, in a groundbreaking move, announced their selection of WAX to promote Sony Pictures' Spider-Man: No Way Home NFTs at the close of 2021. This collaboration marked first-ever NFT promotion between a film studio and a major theatrical exhibitor.

AMC CEO Adam Aron emphasized WAX's advantages, including zero-fee minting and transferring NFTs, rendering it a user-friendly option even for novices.

NFT Royalty: The WAX List

Celebrated as "The King of NFTs," WAX has orchestrated the seamless exchange of countless NFTs, partnering with big names such as:

1. Nike's RTFKT (a hypercraft luxury fashion brand bridging streetwear and gaming)

2. Topps (a juggernaut in major league baseball)

3. NASCAR (a behemoth in American spectator sports)

4. World Series of Poker (an iconic name in the gambling realm)

5. Capcom (the iconic developer renowned for the Street Fighter series)

6. Xsolla (a global video game distributor and publisher)

7. Atari (a legendary brand resonating across generations)

8. Mattel's Hot Wheels (a monumental toy series in the last five decades).

9. Hasbro (a legendary toymaker)

10. AMC Theatres (the world's largest theatrical exhibitor)

11. Iconic movies like Spider-Man No Way Home, Princess Bride and SAW.

12. Celebrities like William Shatner and Leonard Nimoy (the beloved stars of the Star Trek franchise)

Moreover, collaboration with Web3 industry heavyweight Animoca Brands further solidifies WAX's significance. Animoca Brands, honored as a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and a High Growth Company Asia-Pacific 2023 by the Financial Times, is a trailblazer in digital entertainment, blockchain, and gamification. This partnership aimed to accelerate virtual item and crypto collectible trading on the blockchain, contributing to establishing the open metaverse.

Why WAX For Games?

WAX transcends its role as an NFT platform, emerging as a robust and vibrant hub for the next generation of blockchain games. Its multifaceted features and advantages underscore its significance in the gaming landscape:

1. Scalable for Thousands of Users

WAX's fee-less transaction system and exceptional scalability have paved the way for creating blockchain games capable of hosting thousands of users simultaneously. DappRadar's rankings, where many top games on the WAX platform thrive, clearly reflect this. WAX's scalability ensures a seamless and engaging gaming experience for a large player base.

2. One-Click Account Creation

Simplifying user onboarding is pivotal for mass adoption, and WAX embraces this with its effortless account creation process. Gamers can link their existing accounts from platforms like Google, Facebook, Steam, Discord, and Kakao with WAX Cloud Wallet, streamlining the process of joining the WAX ecosystem.

3. Optional Private Key Management

The integration of Wax Cloud Wallet eliminates the need for Web3 wallets like Scatter, ensuring that even non-crypto-savvy players can access and enjoy video game dApps hassle-free.

4. Leveraging NFTs In-Game

5. Trusted Marketplaces

6. A Proficient Team

At the core of WAX's success is a team of visionary founders with a proven track record in cryptocurrency, item trading, brand partnerships, and video game publishing. Their expertise forms the bedrock of WAX's ability to cater to the intricate demands of virtual item trading and Web3 gaming, ensuring a reliable and well-rounded platform.

WAX Labs: Empowering Innovation

WAX Labs stands as a catalyst for enhancing the already remarkable WAX NFT ecosystem through its funding of non-profit projects. Designed as a worker proposal program, WAX Labs invites developers to propose projects to propel innovation on the WAX Blockchain. These projects receive funding through $WAXP, the native token of the WAX Blockchain.

All project proposals, from developer tools and marketing campaigns to community initiatives, are eligible for consideration as long as they contribute to the WAX ecosystem's growth. The sole requirement is that the project bolster the WAX NFT ecosystem and operate on a non-profit basis.

With a substantial pool of nearly 160 million $WAXP, equating to millions of USD, WAX Labs presents an enticing prospect for blockchain visionaries keen on transforming their ideas into reality. Whether you possess extensive experience as a blockchain developer or are taking your first steps, WAX Labs is an ideal platform to showcase your expertise and transform concepts into tangible outcomes.

Submitting your project proposal to WAX Labs is straightforward. A visit to WAX Labs website provides step-by-step instructions to guide you through the process. Once your proposal is approved, you'll receive funding through $WAXP.

The concept of worker proposal programs has been a game-changer in fostering the growth of blockchain ecosystems. Platforms like EOSIO and Steam have experienced explosive expansion due to their worker proposal systems.

WAX Labs' distinctive blockchain research and development approach positions it as a trailblazer in NFTs and gaming. Through financing non-profit initiatives that augment the WAX NFT ecosystem, WAX Labs actively steers innovation, fostering a dynamic and thriving environment for all.

WAX’s Unity3D SDK: Simplifying Game Development

The WAX team's years of dedication have culminated in a technology and ecosystem that facilitates digital asset ownership, establishing it as the world's most widely employed blockchain platform. The Unity3D SDK for WAX represents a pivotal tool in this pursuit.

By seamlessly integrating Web3 tech into games, developers and game studios harness the potential of the WAX platform. This integration unveils various possibilities for gamers, empowering them to create, play, purchase, sell, and trade on WAX's exceptionally swift, secure, fee-less, and environmentally-conscious platform.

The Unity3D SDK for WAX equips game developers to concentrate on crafting engaging gaming experiences while tapping into WAX's exceptional performance to incorporate a wide gamut of functionalities and game mechanics that deliver Web3 advantages to players.

Furthermore, by harmonizing the Cloud Wallet and Unity3D SDK, game developers can unleash the complete potential of the WAX ecosystem. This convergence empowers them to create high-fidelity game encounters while endowing gamers with user-friendly tools to manage and oversee their digital assets and Web3 game engagements.

By unearthing the doorway to the WAX ecosystem and capitalizing on its gas fee-free and rapid transaction attributes, game developers can provide an unparalleled gaming experience to their user base.

WAX Antelope Upgrade: Key To Drive Web3 Gaming Mass Adoption?

WAX's stride towards advancement took a substantial leap with the recent Antelope core protocol hard fork and upgrade. Collaborating with fellow Antelope Coalition members – EOS, Telos, and UX Network – WAX is poised to cement its dominance in the realms of Web3 gaming and digital assets.

Originating as a community-driven blockchain protocol that sprouted from EOSIO, Antelope's mission is to furnish a more pliable, secure, and user-centric platform for crafting cutting-edge Web3 projects. Spearheaded by a coalition encompassing EOS Network, Telos, WAX, and UX Network, Antelope is focused on incessantly enhancing the core protocol shared across all public networks within the coalition.

WAX's gaming community also benefits from this release, relishing perks like low-latency block confirmation for seamless gameplay and fee-free transactions within predefined limits. Moreover, Antelope's emphasis on inter-blockchain communication and adaptable architecture fosters a more interconnected and immersive gaming experience.

WAX’S Multichain Vision: Pioneering Interoperability

In a landscape where blockchains have historically operated isolatedly, the WAX Blockchain is challenging conventions and establishing a new paradigm for interoperability. From the outset of blockchain tech, Ethereum has held a central role. Its smart contract capabilities have transformed it into a hub for many applications, notably the thriving world of NFTs.

By seamlessly integrating various NFT Bridges into the My Cloud Wallet, it not only fosters the coexistence of multiple blockchains but orchestrates a harmonious symphony of interoperability. Imagine the convenience and affordability of WAX's instantaneous and fee-free transactions while tapping into Ethereum's substantial liquidity!

Well, the NFT Bridge within WAX Cloud Wallet actualizes these exhilarating prospects. It empowers NFT projects to transcend the confines of network boundaries.

Moreover, WAX's multichain vision transcends the technical realm. Formerly known as WAX Studios, the Web3 game developer and publisher behind a plethora of Web3 gaming projects, such as Blockchain Brawlers (BCB) and MUSIC MOGUL, has rebranded to Tyranno Studios to embody this visionary concept.

In the current landscape, the blockchain industry is still grappling with challenges to render the user experience seamless—this is precisely the endeavor that Tyranno Studios has embarked upon.

By embracing a multichain paradigm, Tyranno Studios holds the potential to greatly elevate the overall user experience and accommodate an extensive community of gamers and Web3 enthusiasts by fostering enhanced connectivity between the WAX ecosystem and other blockchains.

Central to decentralization is the endowment of full control over digital assets and personal data, transcending the confines of any single blockchain. WAX recognizes this imperative and steadfastly embraces a multichain future.

Maintaining Dominance Amid Funding Challenges

Despite WAX's commanding performance in transaction volume and various metrics, its investment landscape has shown a different picture. According to Crunchbase data, WAX secured $42 million in investments from notable backers like Adreas Schwartz and Node Capital.

Adding to this financial narrative, OKX Ventures, the investment arm of cryptocurrency exchange OKX, infused more than $10 million into WAX Studios in June 2022. The investment will also drive the development and upgrades to the WAX Cloud Wallet, among other strategic areas.

Indeed, while WAX might not have garnered the same funding spotlight as platforms like Polygon or Immutable X, it has steadfastly forged a robust Web3 infrastructure for gaming.

WAX's 10 Million NFT Drop: Demonstrating Mass Onboarding Readiness

As WAX achieved the remarkable milestone of accumulating 10 million total wallet accounts on its platform, it commemorated this achievement by conducting an unprecedented airdrop of 10 million free NFT collectibles to these wallets. This event marked the largest single NFT drop ever executed and was exclusively complimentary for the initial 10 million WAX wallet holders.

These complimentary NFTs encompass an array of 10 distinct digital pins, each symbolizing a significant juncture in WAX's evolutionary journey. Commencing from the mainnet launch in 2019 to achieving carbon neutrality certification and even its strategic collaborations with industry giants like AMC and Sony Pictures for "Spider-Man: No Way Home," these 10 million NFTs collectively celebrate the platform's growth trajectory up to this juncture.

He highlighted that producing 10 million NFTs on Ethereum's mainnet would be financially prohibitive and that the "chain would have buckled" under the strain of its limited transaction processing capacity. Quigley criticized other rival chains for their challenges as well—Solana experienced multiple instances of extended outages, while Polygon encountered surging fees due to a now-defunct play-to-earn game named Sunflower Farmers.

Why This Drop Is Relevant For Web3 Games

WAX's grand 10-million-NFT drop is a pivotal demonstration of the platform's readiness for mass onboarding, a crucial aspect of the flourishing Web3 gaming landscape. This initiative showcases WAX's technical prowess in handling an immense volume of NFTs, offering an unparalleled user experience, especially compared to other platforms with scalability challenges.

Furthermore, WAX's achievement sends a strong signal to game developers and brands, indicating that WAX is robust enough to support their ambitions for expansive NFT-driven projects. It can encourage more game developers to choose WAX as their preferred platform for building and deploying Web3 games.

In the world of blockchain-based gaming, scalability and cost-effectiveness are paramount. The ability to mint and distribute a massive number of NFTs without straining the network or incurring exorbitant fees is a crucial feature for game developers and players alike. WAX has succeeded in this aspect!

WAX and Esports: Forging the Path to the Future of Competitive Gaming

In the ever-evolving realm of esports, where innovation meets cutthroat competition, the fusion of blockchain and gaming is swiftly redefining the landscape. As the esports industry surges beyond the billion-dollar threshold, the symbiotic relationship between esports and Web3 technology emerges as a game-changer.

The financial support pouring into Web3 gaming and esports from investors underscores the immense opportunities on the horizon. Notably, collaborations between cryptocurrency projects and esports teams have yielded monumental deals worth hundreds of millions of dollars, underscoring the deepening interconnection between these two dynamic industries.

In fact, NewZoo reports that Web3 sponsorships accounted for a substantial 15% of all esports sponsorships in 2022.

Our in-depth report, Yoda Labs: How E-Sports is Paving the Way for Widespread Web3 Gaming and Crypto Adoption, dives into the thriving esports landscape and its potential intersection with Web3 tech. This report delves into whether this convergence will lay the groundwork for the widespread adoption of immersive Web3 games.

Global Recognition and Streaming Services

With the International Olympic Committee venturing into esports via the Olympic Esports Series, the global recognition of esports is undeniable. Moreover, streaming services like Twitch, YouTube Gaming, Smashcast, and Mirrativ are pivotal in this growth.

These platforms provide a unique interactive experience for gamers and viewers, transcending the traditional boundaries of sports broadcasting. As a result, advertisers are keen to target these platforms, capitalizing on the tech-savvy and engaged audience within the esports community.

Remaining at the forefront of innovation, WAX acknowledges the profound potential of integrating with the esports realm. It led to a partnership with Fnatic, a premier esports organization with a legacy spanning 17 years across 28 titles.

This collaboration empowered Fnatic to reward global esports enthusiasts with genuine digital collectibles and branded physical merchandise in real-time during the "Legends in Action — Live" streaming event. It marked the introduction of an entirely new line of Fnatic x WAX digital memorabilia and collectibles. Fans gained the ability to own, trade, store, and gift these limited-edition items through their WAX account in real time.

For the first time ever, esports fans acquired branded physical merchandise from their favorite teams and players and traded them globally without requiring physical ownership. Secured by the WAX Blockchain, each Fnatic x WAX item is guaranteed authentic and tamper-proof.

Incorporating the WAX Platform into the esports industry introduces a plethora of benefits. Professional gamers gain another avenue to interact with their fans, while viewers can directly purchase items seen in a stream without leaving the platform. This seemingly minor shift in interaction holds the potential to significantly impact the industry's economics, communication, and overall viewership experience.

NFT World Cup 2023 Expands Through WAX

Building upon its initial success, the NFT World Cup 2023 has returned with even greater vigor by integrating the WAX blockchain. This strategic move allows WAX projects to participate actively, drawing in a robust gaming community and amplifying the tournament's influence.

Featuring an array of 32 diverse NFT projects, the tournament provides a dynamic platform for Web3 communities to immerse themselves in spirited competition. Participants engage in an exhilarating free-to-play fighting game and undertake a series of social quests, enabling them to champion their favorite projects.

The inaugural event of the NFT World Cup garnered remarkable engagement, boasting 200,000 game sessions, 3,000 players, and an impressive social media presence with 9,500 tweets. The second iteration is poised to surpass these achievements, supported by significant players like Polygon, DappRadar, Zeneca, and other prominent entities.

A Game-Changing Move for WAX

The integration of the NFT World Cup with the WAX blockchain is significant for several reasons:

1. It enhances WAX's reputation as a cutting-edge gaming and NFT engagement platform.

2. Involving WAX projects in the tournament showcases the platform's vibrant ecosystem and its role in shaping the future of gaming.

3. It brings exposure and attention to exceptional WAX projects, fostering their growth and visibility in the ever-expanding NFT landscape.

The WAX Fam ecosystem is already abuzz with enthusiasm as standout projects such as Taco, Aphelium, Novopangea, and Outlaw Troopers (FGL) have enthusiastically joined the tournament.

The NFT World Cup 2023 commenced on August 27th, 2023, and is still in progress. Participation is straightforward, allowing anyone to take part by selecting one of the available 32 avatars and accumulating points toward victory.

Deciphering On-Chain Data

In the realm of blockchain gaming, WAX continues to maintain its pioneering position, particularly when it comes to User Activity and Wallets (UAW).

According to the DappRadar x BGA Games Q2 2023 Report, WAX stood as the blockchain with the highest transaction count, recording an impressive 1.5 billion transactions. However, it did witness a 10% decrease compared to the preceding quarter.

Notably, Alien Worlds and Splinterlands emerged as frontrunners in user engagement on their respective blockchain platforms, with Alien Worlds commanding 61% of WAX activity and Splinterlands dominating 91% of Hive activity. Alien Worlds, in particular, led the blockchain gaming sector with a staggering 240,224 UAW.

While WAX may not be the blockchain name on everyone's lips, it delivered remarkable performances in 2022. Interestingly, WAX already displayed commendable results in 2021, processing over 80% of game-related transactions across all blockchains.

However, these statistics from 2021 pale in comparison to the accomplishments of this ecosystem in 2022, even in the face of a brutal market downturn.

According to the DappRadar x BGA Games 2022 Overview Report, WAX has experienced a substantial surge in UAWs, boasting an average of 353,758 daily UAWs in 2022. It marks an impressive increase of 57.59% compared to the previous year.

Notably, Blockchain Brawlers played a significant role in driving on-chain activity within the WAX ecosystem during the first half of 2022.

The graph above offers several intriguing insights. Firstly, despite being relatively less recognized than prominent chains like BNB, Solana, Polygon, Ethereum, Ronin, and even its parent chain, EOS, WAX stands proudly at the top of the chart for daily UAWs.

Furthermore, the growth statistics reveal an extended narrative of WAX's remarkable performance. Even the protocols that exhibited the most explosive growth in daily UAWs in 2022 are yet to match WAX's 2021 average.

While the Daily UAW figures are certainly impressive, WAX's crowning achievement in 2022 lies in its total transaction count. According to the DappRadar Dapp Industry Report 2022, in 2021, WAX had already asserted dominance in transaction counts, more than doubling the runner-up.

In 2022, WAX extended its lead, surpassing second place by over sixfold with a staggering 6.3 billion transactions. What's truly mind-boggling about WAX's performance in 2022 is that it's nearly 50% higher than its 2021 figures. Among the top 10 chains, only one other chain, Harmony, witnessed growth of a similar magnitude, transitioning from approximately 50 million to 114 million transactions. However, this growth pales in comparison to WAX's astonishing numbers.

Let’s take a look at some WAX data for the year 2023 powered by Dappradar. Looking at the graph below, we can observe some interesting trends in WAX NFT volume and sales counts for 2023.

In January and February, there was a relatively steady increase in NFT volume, with sales counts also gradually increasing. March, however, saw a significant spike in both NFT volume and sales count, indicating a robust period of activity in the WAX NFT market. April and May maintained relatively high NFT volumes, but sales counts started to taper off slightly. June continued this trend, decreasing NFT volume and sales count compared to the previous months. July witnessed a notable drop in NFT volume and sales count, suggesting a temporary decline in market activity during this period. Unsurprisingly, these trends somewhat mirror the broader cryptocurrency market, which also experienced periods of surges followed by consolidations or corrections.

More importantly, we uncover an intriguing contrast when we delve into the monthly average users and monthly average transactions on WAX in 2023.

The pie chart illustrating different Dapp categories and their respective percentages of monthly average users reveals that Games reign supreme, constituting a staggering 83.5% of all Monthly Average Users on WAX. In sharp contrast, the pie chart depicting different Dapp categories and their percentages of monthly average transactions showcases DeFi as the dominant force, commanding a substantial 76.7% of all Monthly Average Transactions on WAX in 2023.

What's particularly fascinating is the disproportion in the DeFi and Game category. While DeFi comprises only 0.06% of all Monthly Average Users, it commands a significant 76.7% of all Monthly Average Transactions on WAX in 2023. Conversely, Games, with its impressive 83.5% of all Monthly Average Users, makes up only about 9.9% of all Monthly Average Transactions on WAX in the same year. This stark contrast might be because the gameplay of the leading games on WAX may not necessitate a substantial number of on-chain transactions.

The graph below provides a clear visual representation of the monthly UAWs for select gaming dApps on the WAX blockchain.

Alien Worlds consistently emerges as the frontrunner in UAW, maintaining a robust user base with numbers ranging from around 211,892 to 245,480. This data underlines its sustained and significant popularity, making it a major driver of user engagement within the WAX blockchain ecosystem. With an average of 230,174 monthly average users (MAU). It underlines its significant and sustained popularity on WAX. Alien Worlds’ leadership is even beyond WAX and always at the top5 compared to all games on-chain.

Games To Keep An Eye On

Alien Worlds: A Multichain Play-to-Earn Marvel

Alien Worlds is not just a game; it's a revolutionary NFT DeFi metaverse game that operates across WAX, Ethereum, and Binance Smart Chain. This groundbreaking play-to-earn and free-to-play browser game has witnessed unprecedented growth, emerging as the leading WAX game.

It boasts an impressive user base of nearly 351.55K in the last 30 days. This dynamic blockchain game has secured over $2 million through a TLM private sale to investors, attracting notable backers like Animoca Brands, Longling Capital, 3Commas, and Digital Assets Group.

Pioneering Leadership and Vision

Saro McKenna, an experienced blockchain advocate involved in various ecosystems, drives the innovation behind Alien Worlds. Her background includes an association with EosDAC, a block producer for the EOS network. She is also the founder of Dacoco GMBH, headquartered in Zug, Switzerland, the driving force behind Alien Worlds. The synergy between Alien Worlds' blockchain expertise and Dacoco's prowess in building tokenized DAOs and leveraging community value with digital assets has yielded a game-changing metaverse.

Incorporating NFTs and Empowered Governance

Alien Worlds allows players to strategize by acquiring NFTs tailored to their gameplay style. These NFTs come in varying rarities and levels of shininess, enhancing gameplay diversity. There are six different rarities (Abundant, Common, Rare, Epic, Legendary, and Mythical) and four levels of shininess (Stone, Gold, Stardust, and Antimatter). Moreover, players can combine any four identical NFTs to upgrade it.

The game also introduces an immersive governance aspect, allowing players to elect six Planet DAO Councilors, influencing the game's trajectory. By staking TLM to Planet DAOs, players showcase their backing for a specific planet to receive increased daily TLM emissions.

As a result of their staking activity, players acquire voting privileges within the Planet DAO, determined by the amount of TLM staked. Those interested can also participate as candidates for the position of Councillor for one or more Planets. After the elections at the Planet DAO, the elected Councilors assume governance authority over the respective DAOs, thus jointly holding multi-sig control over the Planet DAO accounts.

Other games to note

• Wombat Dungeon Master

• Prospectors: A Real-Time Strategy Game with Economic Realism

• R-Planet: A Real-Time Military Strategy Game

• Blockchain Brawlers: A Nostalgia Inducing Wrestling Game

• Farmers World: A Bot Infested Game Still Loved By Many

• Taco: Not Just A Game But A Comprehensive Gaming Platform

WAX's Ambitious 2023 Roadmap: Forging Ahead with Innovation

On May 23, WAX reached a significant milestone by integrating Antelope IBC into its network. As the journey continues, initiatives like the Creators First program and AtomicHub GameFest remain dedicated to engaging the vibrant WAX community. Ongoing development and growth endeavors will be pivotal in fortifying the robustness and diversity of WAX's network and ecosystem.

With anticipation running high, WAX's roadmap for 2023 unravels an array of upcoming enhancements:

1. Rebalancing Tokenomics

2. EVM Launch

3. Instant Finality Implementation

4. Resource Model Enhancements

5. Social Wallet Features

6. Multi-Chain Support for Cloud Wallet

7. Native Mobile Client for Cloud Wallet

8. Multi-Chain for vIRL Marketplace

9. Integration with Custodial Service Providers

Undoubtedly, the WAX Blockchain Roadmap for 2023 resonates with excitement and ambition, poised to propel the platform to the forefront of the virtual asset market. From core technology enhancements to user-centric improvements, novel partnerships, and groundbreaking projects, this year promises many enriching experiences for the WAX community and beyond.

Exclusive Interview with Michael Rubinelli

We have the privilege of speaking with a true visionary in the world of gaming, Mr. Michael Rubinelli. With a career that boasts roles at some of the most prestigious names, including Walt Disney, EA, Mogul, KIXEYE, and Midway Games, he's been a driving force behind innovation and creativity.

Now, as the Chief Gaming Officer at WAX, he's spearheading the evolution of blockchain gaming. We're eager to delve into his insights, experiences, and the exciting developments happening in the blockchain gaming sphere. Michael, we truly appreciate you taking the time to join us today for this insightful conversation

Yoda: Alien Worlds is a major player in web3, particularly on WAX. However, the next game in line has fewer users and playtime. What does the future hold for WAX gamers? And what happens if Alien Worlds leaves?

MR: Alien Worlds stands out as an exceptional product tailored to its target audience. In contrast to many games that tend to lose their player base over time, a glance at their wallet count reveals remarkable stability. Regarding the prevailing gaming trends, it exhibits a degree of predictability. The evident attraction linked to digital asset ownership is attracting a growing number of top-tier developers to venture into the realm of Web3 gaming. These developers are accompanied by decades of experience, enabling them to craft superior games that leverage the potential of blockchain technology

Yoda: When it comes to WAX, gaming is the main focus. Alien Worlds has been particularly successful. However, the gaming industry on various blockchain ecosystems is rapidly changing. Platforms like Immutable and Gala Games are also offering impressive AAA titles, both currently available and in development. So, what is WAX planning to stay ahead? Can you provide any insight into their strategic moves or future initiatives?

MR: I have limitations on what I can disclose here, but in the upcoming 12 to 18 months, you can anticipate the emergence of WAX video games developed using Unreal Engine 5 that will compete with the quality found on consoles and PCs. Many developers and publishers are currently grappling with the concept of balancing primary and secondary sales. Once this model is established, and a guiding North Star becomes clear, we can expect a transformative shift in the gaming industry that will redefine the landscape

Yoda: Your impressive gaming industry experience, including your previous role as CEO of Mogul, gives you a unique perspective on esports. Can you provide insights into WAX's esports strategy, specifically under your leadership as WAX's Chief Gaming Officer?

MR: In recent years, there has been a notable trend where numerous competitive games have labeled themselves as esports. This widespread adoption of the term has, in my view, somewhat diluted the essence of what I consider true esports, as I hold a more stringent definition of the term. However, the current landscape seems to be evolving, with many of these so-called "wannabe" esports games gradually fading away.

Our active pursuit is to curate and deliver the finest gaming content to the WAX platform, whether it falls within the realm of esports or spans more traditional gaming genres.

Yoda: A few months ago, Polygon and Immutable teamed up to create a network for Web3 gaming using Polygon's zkEVM tech. This collaboration was highly regarded. With WAX's focus on a multichain future, can we expect a game-changing collaboration with other blockchain players?

MR: We advocate for the integration of cross-chain compatibility within the Web3 gaming ecosystem, primarily driven by the observation that the current user base of approximately 47 million wallets is notably fragmented across multiple gaming chains, making it insufficiently conducive for sustained growth. Drawing parallels with the console gaming industry, which has established the viability of only two dominant hardware platforms over the past three decades, serving a substantial audience of approximately 350 million players, further underscores our rationale.

To address this fragmentation, we have already implemented NFT bridges that interconnect with prominent blockchain networks such as Ethereum, Binance, and Polygon. This strategic integration enables users on these respective chains to seamlessly engage in the acquisition and trading of our digital assets within their native marketplaces while enjoying the immersive gaming experiences offered on the WAX platform. Our guiding principle is succinctly captured by the phrase, "Utility on WAX and liquidity everywhere."

Conclusion

The financial dimension of the market shows signs of a rebound from its lows, with the WAX platform witnessing a daily surge in the quantity and caliber of infrastructure projects.

Nonetheless, user expectations of WAX projects have evolved, and the allure of game-centric competitor chains, along with their partnerships and projects reminiscent of those that once garnered substantial attention, seems to have waned.

Consequently, the upcoming bullish phase will spotlight high-quality projects that can captivate user interest.

While WAX isn't without its imperfections — notably, its newsworthy partnerships may not quite match the magnitude of those achieved by platforms like Polygon, which boasts Starbucks and Reddit among its countless onboarded entities — it has demonstrated formidable performance, particularly in the Web3 gaming arena.

Nevertheless, WAX still faces competition from Immutable , which has overtaken the platform regarding upcoming games. Furthermore, WAX lags behind Gala Games and Immutable when it comes to securing AAA title games.

Yet, the underlying strengths of WAX are indisputable.

WAX has zero outages, adopts a carbon-neutral approach, imposes negligible gas fees, boasts lightning-quick transaction speeds, upholds a high maximum transaction capacity with a proven track record spanning several years, and offers a range of outstanding marketplaces, with Atomic Hub standing out as "one of the busiest in Web3"

We can only attribute the apparent disparity between WAX and its competitors largely to WAX's lack of social clout and high-profile partnerships.

The question looming is: will 2023 mark the year WAX's staggering statistics find resonance in fitting partnerships and brand collaborations?