Tokenization of in-game items is the future of the gaming industry. Worldwide Asset eXchange has been spearheading this agenda which will not only give gamers the liberty to own virtual assets, but it will also fractionalize player profits from centralized exchanges, create an avenue for games which were unable to transfer assets and at the same time lower transaction costs. However, tokenization comes with a lot of challenges such as monitoring tokens and ensuring that those on the blockchain are tied to their chains. WAX has put measures to curb this by making token holders responsible for transferring items through the Transfer Agents. Transfer agents are then taken to task by a supervisory committee known such as rating systems, delegated stake consensus algorithm, and Guilds.
Decentralization of governance will allow gamers to own assets from their icons such as a Babe Ruth baseball card, an Aston Martin from a James Bond Movie or even Michael Jordan’s NBA shoes that he wore while winning a championship game. With Guilds providing oversight, Transfer Agents will specialize in the delivery of assets.
About Malcolm CasSelle
Malcolm CasSelle is the Chief Technology Officer and President of New Ventures at tronc, Inc. He graduated from Massachusetts Institute of Technology with a bachelor’s degree in Computer Science and later advanced his studies at Stanford University where he graduated with a master’s degree in Computer Science. Malcolm CasSelle began his career at MediaPass where he served as the Chief Executive Officer. He also worked at Xfire which is a social network for gamers as the CEO. He held top positions at Tencent, a gaming giant in China. He served as the director of Capital Union Investments in Hong Kong. Malcolm is a proud co-founder of Netfoir Company which was the first of its kind to be incorporated into the AOL Greenhouse Program. He was also part of the founding team of Pacific Century Cyberworks. Before New Ventures, Malcolm was the General Manager and Senior Vice President of Digital Media of SeaChange International. Malcolm CasSelle is an icon in the gaming industry. Besides gaming, Malcolm has also invested in other companies like Zynga, Facebook, and Bitcoin.