A Dive Into WAX Blockchain

Samuel Olapade
3 min readMar 18


When it comes to the selection of a crypto wallet the consideration of two things is important. Security and utility are key. You will agree with me that no one is happy losing their crypto, and the history of crypto and blockchain, the ability to trade with others seamlessly and in a safe environment is very important.
Recently, I have been paying attention to the WAX wallet and the utility around its blockchain as its wallet allows users to purchase all kinds of NFTs from various crypto games.

A Dive Into WAX Blockchain

In case you are new to WAX Blockchain, WAX stands for Worldwide Asset Exchange. This is a decentralized platform that allows users to operate a completely functioning virtual market with zero investment in payment processing, infrastructure, or security. In the history of this chain and in today’s happenings, WAX Blockchain is one of the world’s top marketplaces for online video game assets built by the founders of OPSkins developed this platform.

There are three important facts about WAX Blockchain

  1. WAX Blockchain allows the use of virtual goods in video games through its coin (WAX Coins),
  2. WAX Blockchain permits virtual goods to get tokenized and exchanged conveniently for cryptocurrency.
  3. WAX Blockchain introduction of WAX DeFi allows users to earn ETH when the user stake in the WAX Economic Activity Pool.

How Do You Start With WAX Blockchain?
First, you need to create a wallet on the chain to take benefit around the utilities already built on the blockchain.
Creating your wallet can be done in multiple ways using your social media handle or your email address. I advise using your email address so that when you lost your access, you can easily get it back through your email address.
Create your wallet: https://all-access.wax.io
Now that you have your wallet created, Play, Collect, Store & Explore the ecosystem.

Did you ask how?
Being the #1 Blockchain for Gaming and NFTs, I will start by directing you to WAX Gaming Territory. You are free to check out the one you feel like and enjoy playing them why you earn WAX coins.
Also, I am a DeFi player and I love interacting with all elements associated with decentralized finance like staking, lending, farming, and the likes and great to see WAX DeFi releasing this opportunity for their users to earn passively.

With WAX DeFi, earning Ethereum when a user stakes in the WAX Activity Pool. As of now, over $4.8 Million worth of WAX is locked in volume and stakers enjoy up to 107% APR. You too can join Here

One more thing!

Unleash your inner creator via WAX Hub
WAX Hub was announced openly through Official WAX Twitter handle on March 14th 2023. This is a tool created by social mining company known as DaoLabs. If you are new to what Social Mining is, you can read it Here.

In conclusion, until now, I have not really traced any bad lashes about this blockchain when reviewing the technology of this coin, however, it is important to watch websites or Dapps you connect your wallet to in other to protect yourself against hacks.

Disclaimer: I am not a financial advisor, every piece of information I shared here is my personal view, kindly do your own research and ask questions.

Official Links
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Samuel Olapade

I am a expert in community management for crypto, blockchain and web3 platforms. With over 5 years diversified experience in the industry.