WAX (Worldwide Asset eXchange) has come up with a way to allow its token holders to benefit from the project’s major success. According to its recent announcement, it has a new tokenomics model that will let its users earn from WAX’s NFT sales.
WAX’s success in the NFT space
WAX is a well-known blockchain that allows users to create, purchase, sell, or trade non-fungible tokens (NFTs). But, the project now also wants to reward loyal token holders by providing them a way to receive extra profits from the NFT market.
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As some may know, every primary NFT sale that the WAX blockchain has seen was a major success. They all sold out in only a few hours. Sometimes, the sales were completely over in mere minutes.
As for the secondary trading volume, on average, it sits 5x higher than the primary sales volume. In other words, WAX’s market performance is quite impressive, not to mention that its partners have included many major brands and personalities, with many more expected to join.
Successful as it is, WAX now wants to make it possible for its token holders to enjoy this success even more, thanks to a brand new tokenomics model.
Combining the best of WAX and Ethereum
According to what is known, the new model will combine the NFTs’ growth with the DeFi sector’s monetization capabilities. Basically, participants will be able to earn rewards in ETH, as well as WAXG — the project’s governance token.
The new system’s core element will be the inter-blockchain design. With WAX blockchain being one of the top performers in the NFT space, and Ethereum having the best monetary system, the combination of the two will give birth to a tokenomics model with WAX’s operational advantages and Ethereum’s DeFi capabilities.
WAX was already named the king of NFTs, and now, the project’s team wants to revolutionize its role in the NFT sector.