Worldwide Asset eXchange (WAX) today announced the ability to use WAX Tokens as collateral for instant access to cash through crypto-backed loans from Nexo. WAX Token holders will be able to keep their cryptocurrency assets, including gaming skins and crypto collectibles, while accessing cash loans on the Nexo platform.
"WAX is truly a blockchain pioneer with a vast community and Nexo is beyond excited to present them with the possibilities of our instant loans backed by the WAX Token," said Georgi Shulev, Managing Partner of Nexo. "Nexo provides instant cash to the 400+ million online players, who want to keep their virtual goods and use them at a later stage, without selling them."
"We are committed to providing the WAX community with the most dynamic experience possible, and Nexo helps us achieve this," said Malcolm CasSelle, President of WAX and CIO of OPSkins. "WAX Token holders will be able to keep their cryptocurrency assets, such as gaming skins and Crypto Collectibles, while accessing cash loans on the Nexo platform."
Created by top virtual goods marketplace OPSkins, WAX allows anyone to host their own marketplace to buy and trade securely and with low fees from anywhere in the world. WAX is designed to serve the 400 million gamers who already collect, buy, and sell in-game items with a simple exchange that leverages blockchain technology for transaction verification and recording.