Another NFT-focused protocol that has been gaining fundamental strength in recent months is Worldwide Asset eXchange, also known as WAX — a protocol that claims to “deliver the safest and most convenient way to create, buy, sell, and trade virtual items to anyone, anywhere in the world.”
Data from Cointelegraph Markets Pro and TradingView shows that between June 27 and July 9, the price of WAX’s WAXP token climbed 70% to a high of $0.151 before the Bitcoin-led sell-off pulled the price to its current value of $0.11.
Three reasons for the rally in WAXP include the growing list of well-known brands launching collectibles on the project’s blockchain, an active network with fast transaction times and its integration to decentralized finance via cross-chain compatibility with the Ethereum (ETH) network.
Popular brands launch NFT projects on WAX
Nostalgia can be a potent source for attracting an audience willing to engage with a product and WAX has managed to capitalize on this by partnering with somewell-known brands in the United States.
Current partners include Atari, Topps, William Shatner and Capcom and a scroll through the project’s Twitter feed shows recent campaigns for Street Fighter V Series 2 cards and special edition Bratz collectibles.
— WAX NFT Blockchain (@WAX_io) July 20, 2021
Popular collectibles like baseball cards and Garbage Pail Kids, along with more modern games like Alien Worlds (TLM) offer users a variety of options that help attract a wide audience…