Playing around with Wax these last couple of days has given me a good impression on the chain and what it can do. It is easy to set up and use and with a cloud wallet I can switch my account from my lapptop to my phone and still use the dapps. The transactions are fast and cheap and it works well for smaller items making it a good fit for NFTs. So far there really isn't any complaints and I'm waiting to see more games and NFTs come out on the chain so I can utilise it more.
The King Of NFTs
The wax chain has dubbed itself the king of NFTs. There still needs to be a lot more brand names that come onto the chain but the ones that are there show that the chain has the capacity to handle the NFT market. Right now you can collect things like Kogs which are virtual pogs and Atari cards. The Atari cards are cool but I don't know if they will have any value in the future. Video game collectables don't have the same desire as sports memorabilia and the verdict is still out if NFT collectables will have value years down the line. But the cards themselves are designed well and with your cloud wallet it is easy to bring them onto your phone and show them to your friends. I would like to see more games and utility to these cards to give them value. For example the Atari cards could let you play the Atari game or you could design a game around the cards. That would give them more utility.
More Brand Names Coming
There is also a lot of brand names coming out and they have a partnership with one of the biggest names in collectable cards Topps. This means MLB cards could be on the table as Topps has exclusive rights to the MLB for cards. Seeing how big the NBA Top Shot is doing this could blow up in the near future. The next set that is looking to come out will be for Street Fighter. I will have an article about those cards coming up so follow if you want more details.
The Atomic Market
wax.atomichub.io is the main market site to trade your NFTs. The site is user-friendly and has a collection of NFTs already on there. You can search by collection and then filter it based on the value or the rarity of the card. It is easy to find what you are looking for and with the speed of the blockchain the transfer is almost instantaneous. There is also the option to bundle your NFTs and sell them as a pack making it easier to move items.
Lots Of Cheap NFTs
The good thing about Wax is it can handle micro-transactions. On the market you will see a lot of cards that are going for a penny. This makes it a good place for games and card collecting as you can have a market of low tier items and high tier items at the same time. The Ethereum network has some top brands and art on the chain but with the gas fees you really need to want the item to buy it. You could be paying $20 for a transaction so unless the item you are buying is worth thousands it makes it hard to buy and sell (and yes there are NFT artworks on the Ethereum network that are selling for thousands). Sites like Top Shot are using a side chain to take care of this and Eth should have lower fees in the future as Eth 2.0 keep upgrading but for now if you want to send and buy NFTs under $10 this is the chain for you.
The Cloud Wallet
I wrote a post about how user friendly the wallet is which you can read here. The biggest advantage of having a wallet in the cloud is that I can switch over to my phone and get doing what I am doing on the wax network. As more games comes out this will make it easy to play them on the go. All I had to do was put in my email address and I had access to my account.
If you are looking for inexpensive NFTs and a quick way to do transactions this is the chain for you. There still needs to be more brands and games on the network but the chain is ready for people to use. I'll e keeping an eye on this one and since all I need is my email it will be easy to get back in when I want to use it.
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so you basically collect NFTs like an investment?
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It depends on the NFT but you could. They are usually collectables like art or baseball cards that are digital. They are rare because they are on the blockchain so you can have only x amount of each item. It is too early to see if this will be a market where people collect and sell them as they go up like collectable in real life or a fad where people are just rushing in to the word NFT.
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it will be interesting to watch either way :)
I have NFT card packs that I bought for $26. I didn't open them and the demand went up. I ended up selling the same pack on the market for $260. A 10x return on my investment!
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that's pretty cool
What did I tell you? Pretty awesome huh? You should check out the Dark Country game. They are in the process of selling some more cards right now for that. It is a good chance to get them at reasonable prices versus using the markets. There are other WAX markets out there, but I think Atomic Hub has the nicest interface and is the easiest to use. Atomic Hub also lets you create your own NFT's. For example if you are an artist or photographer you can make your own NFT's and put them on the market. WCW works with the latest Prospectors expansion too. Tribal Books is another decent NFT. I have some packs from different games I might be willing to part with for the right price... I think individual KOGS are going to start going up in price soon due to the staking they are implementing. Might be a good idea to pick up some of those cheap if you see them.
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Fuck, Wax is blocked for my country. But I have heard about a game called alien Worlds, I think you could check it out if you can.
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Nice article about NFTs, I have always thought of Wax as one of the premier sites for NFTs. I think their gamer background makes them better at protecting their technology from exploits. I think gamers are more tolerant of multi-step procedures then average people and the diligence we apply to exploit weaknesses makes games a good place to start to test vulnerability of new technologies to exploits.
As usual love your style and information.
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