Worldwide Asset eXchange™ (WAX), a decentralized marketplace that enables the exchange of digital items, today announced a strategic partnership with Terra Virtua, the world’s first fully immersive augmented reality (AR) and virtual reality (VR) entertainment platform, founded by previous executives from: Electronic Arts, Warner Bros, The Bitcoin Foundation, Microsoft and PlayStation VR. With the launch of the platform, the 400 million PC gamers worldwide who buy, sell and trade virtual items—a $50 billion industry—will have a new, unique 3D portal to do so.
his partnership combines the strength of the WAX marketplace with Terra Virtua’s immersive AR/VR platform to create a secure, streamlined and interactive social environment to view, buy, sell and trade virtual collectibles (axes, capes, skins etc). Any 2D or 3D digital item that can be transferred, stored, or traded digitally can be exchanged on the WAX Blockchain and viewed with Terra Virtua’s fully immersive AR/VR blockchain platform. For example, you can see in this demo how VGO items, which currently trade on the alpha WAX Blockchain, can appear in Terra Virtua.
WAX was built by the creators of OPSkins.com — the dominant virtual item marketplace that has facilitated over 150 million purchases of digital collectibles. Both companies are now in a position to take full advantage of the rapidly expanding AR/VR consumer entertainment market, which is expected to grow from $3.2B to $19.9B in the next three years.*
“We’re very excited to partner with a company like WAX that shares our goal of maximizing user interaction, flexibility and participation in the blockchain gaming ecosystem,” said Gary Bracey, CEO and Co-founder of Terra Virtua. “WAX’s in-platform marketplace and peer-to-peer trading features are key to our mission of creating a frictionless blockchain-based economy within Terra Virtua.”
“As a gaming and entertainment platform, and even as a social network, Terra Virtua has great potential to shape the future of the virtual reality landscape,” said William Quigley, CEO of WAX. “WAX’s experience lies in virtual item trading and marketplaces, and we’re proud to lend that expertise towards creating the blockchain economy Terra Virtua envisions.”
All items traded on the WAX platform are owned by the customer and can be exchanged for money or with digital currencies such as Bitcoin. Terra Virtua participants can buy digital currencies through the blockchain using a debit card without setting up an e-wallet or registering with a digital currency exchange.
Other partnership notes:
- Owners of digital items that are traded on the WAX Blockchain will be able to interact with them in virtual reality through Terra Virtua’s platform.
- Partnership aims to create a streamlined and secure 3D marketplace for buying and selling digital assets (a $50bnmarket).
- WAX Blockchain protocol connects over 400 million gamers who already collect and trade digital assets worldwide to a safe decentralised goods exchange. Terra Virtua enables people to experience goods in an immersive AR/VR environment.
- Consumer entertainment software spending expected to increase from $1.3bn to $19.9bn in the next three years.*
Photo Credits: WAX