WAX, one of the biggest blockchain networks, has received funding from OKEx Blockdream Ventures in the form of the acquisition of a significant number of WAXP tokens.
While the exact number of tokens is undisclosed, the investment represents an important vote of confidence by one of the biggest funds in the crypto space. OKEx Blockdream Ventures investments in Republic, Kine, DeversiFi, and PLASM, have helped them become major players in the ecosystem.
“We are excited that OKEx Blockdream Ventures has chosen to back the WAX ecosystem,” said William Quigley, Co-Founder of WAX. “We look forward to a long term partnership to make the WAX blockchain and all of its top performing metaverse, game and NFT projects available to a broader audience.”
WAX, launched as a marketplace for NFT tokens, has quickly grown in popularity and has created its own network separate from Ethereum. WAX now processes more than 15 million transactions daily for 450k-plus users, making it the biggest blockchain network for gaming and NFTs. In recent months the network has established important partnerships with major brands, including Mattel, Hasbro, AMC, and Sony Pictures, while launching its own NFT Project: Blockchain Brawlers.
“WAXP has an edge in GameFi, enabling a friendly environment for game developers,” said Dora Yue, Founder of OKEx Blockdream Ventures. “They also have high performance and low fees with a huge player base, where native games like Alien Worlds & Farmers World have 350k daily active users. The catalyst is the creative content and virtual items staked by KOLs and loyal audiences in Metaverse DAO by publisher and community.”
The burgeoning market for NFTs, now exceeding $43B globally, has emerged as a major force driving adoption of blockchain and crypto. WAX, strengthened with partnerships like the one with OKEx Blockdream Venture, will continue to support this adoption by providing an alternative network specifically designed for the needs of NFT enthusiasts.