WAX, one of the biggest blockchain networks, has received funding from OKEx Blockdream Ventures in the form of the acquisition of a significant amount of WAXP tokens.
While the exact token quantity remained undisclosed, the investment represents an important vote of confidence by one of the biggest funds in the crypto space. OKEx Blockdream Ventures has invested in projects like Republic, Kine, DeversiFi, PLASM, and many others, helping them become major players in the ecosystem. William Quigley, Co-Founder of WAX, referred to OKEx Blockdream Ventures’ support by stating:
“We are excited that OKEx Blockdream Ventures has chosen to back the WAX ecosystem. 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 started as a marketplace for NFT tokens, quickly growing in popularity until it saw the need to create its own network separate from Ethereum. Now, WAX is the biggest blockchain network for gaming and NFTs, processing over 15 million transactions a day for over 450k users. Over the past months, the network has established important partnerships with brands like Mattel, Hasbro, AMC, Sony Pictures, and more, as well as launched its own NFT Project: Blockchain Brawlers. Dora Yue, Founder of OKEx Blockdream Ventures, said about the network’s success:
“WAXP has an edge in GameFi, enabling a friendly environment for game developers. 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.”
With the total market capitalization of the global NFT market surpassing $43 billion, NFTs have become one of the biggest drivers behind blockchain and crypto adoption over the past months. WAX is now aiming to continue supporting this adoption by providing an alternative network specifically designed for the needs of NFT enthusiasts, a mission that partnerships like the one with OKEx Blockdream Venture are likely to help accomplish.