The company is creating a new ecosystem of online gaming assets that have previously been untapped. One of the reasons why WAX is becoming so popular is the amount of safeguards the company puts into their system to ensure their customers are secure with their purchases. WAX uses a multi-layered governance approach with regulatory oversight by those who purchase items. The system uses a series of “Transfer Agents” who are responsible for transferring items and “Guilds” which are supervisory committees.
The current President of WAX is a man named Malcolm CasSalle. He is also one of the co-founders of the company as is the CIO of OPSKins, which dubs itself the number one centralized marketplace for buying and selling virtual items from online games. His previous tenures include CEO and President of New Ventures at tronc Inc., an online media publisher formerly known as Tribune Publishing. Also, he had stops at SeaChange International as the Senior Vice President and General Manager of Digital Media.
Early on in his career, one of his more prominent ventures was with PCCW. The company is a holding company of HKT Group Holdings Limited. CasSalle, as the co-founder of PCCW, was able to take the company to its current valued price of $35 billion. During his career he was able to raise billions for PCCW and other private and public exchanges.