OPSkins, a leader in the sales of “skins,” a form of virtual assets within games, is already heavily involved in cryptocurrency. Today it is the bitcoin merchant with the largest sales in the world.
There is good reason for this. The customers of OPSkins can be anywhere on the globe and frequently trade with other customers across borders. Doing this with traditional centralized currencies is not very efficient or convenient.
But OPSkins is going further than that. It’s launched a new cryptocurrency, known as WAX (Worldwide Asset Exchange) that is intended to solve two big problems that markets in virtual assets have.
One problem is fragmentation. Much asset trading is done on local and regional marketplaces, with these marketplaces restricted to their own areas because of difficulties caused by language, security, and payment processing issues. These issues require a blockchain solution.
The other problem is fraud, which is endemic with virtual assets. Problems such as the incomplete receipt of assets also require a blockchain solution.
CasSelle’s launch of the WAX blockchain virtual currency will solve both of these problems, with the needs of gaming for blockchain’s capabilities driving innovation in these kinds of currencies.
WAX is a decentralized platform that provides the capability of payment processing with high security. It makes use of “WAX Tokens,” that allow virtual assets to be exchanged for cryptocurrency.
Malcolm CasSelle is President of WAX, and the CIO of OPSkins. He was formerly CTO and President of New Ventures of tronc (previously Tribune Publishing), and has been involved in leading many startups in the digital media, social media, and e-commerce industries. He has invested in Facebook and Zynga as well as blockchain and big data companies. Mr. CasSelle has degrees in Computer Science from Stanford University and the Massachusetts Institute of Technology.
CasSelle became CEO in 2012 of Xfire, an instant messaging network for game players that was also a game server browser.