With each passing day, there are more reports of cryptocurrencies being embraced by leading service providers coming out. As new tokens are being created on a near daily basis, many business are starting to gain ‘project traction'.
What Is Xsolla?
Xsolla is primarily a ‘video games industry company’ that provides game developers and publishers with means of receiving payments, sending out invoices, managing bills, and other market optimization tools. Their primary headquarters are located in Sherman Oaks, Los Angeles, California, but there are many branch offices all around the world, including Russia, South Korea.
The reason why Xsolla has been dominating the headlines in the past couple of days is because they are one of the first major gaming-related platforms that are discussing a potential use of WAX tokens as payment. This is a move that has quizzed many a people, primarily because of a lack of awareness in regards to cryptocurrencies and their potential uses.
Xsolla & WAX…Is This A Glimpse Of The Future?
When the news of Xsolla partnering up with WAX tokens started to spread across the internet, it caused a major furor among the global gaming market. While, immediate payments on Xsolla cannot be made via the use of this cryptocurrency, the official WAX token blog states that ‘xsolla will enable this token as a payment method in the very near future’. To break it down even further we can see that it will have the following effects:
- Increased Customer Reach: the tokens will be made available for use to over 400 million gamers around the world. As a result of this, there will be immense positive exposure for regular individuals to the world of cryptocurrencies.
- Ease of Payment: due to this partnership, any person who holds WAX tokens then has the ability to use them to for making in-game payment to procure digital items with ease.
However, even with these developments, it is highly unlikely that the outreach of WAX tokens will move on beyond the realm of gaming payments for the time being. For example, Twitch (a subsidiary of Amazon that provides live TV streaming) has clearly stated that they have no current interest in using such tokens as a means of payment in the foreseeable future.
Other Important Information To Consider
Apart from making waves by partnering with Xsolla, WAX is also hoping to carve a niche into the OPSkins platform. OPSkins is also a marketplace that serves to distribute ‘online video game assets’ in a reliable and efficient manner. As a result of WAX becoming a payment option on OPSkins, the platform only becomes more secure and strengthened.
However, it should be kept in mind that even with so many potent partnerships in the pipeline, WAX is still a relatively unknown project. Thus, if this venture was to fail, it could potentially have an adverse effect on the reputation of cryptocurrencies in general. Additionally, even if people start to adopt WAX tokens as a valid means of payment, it would take some time before they started to become one of the primary means of payment.
Finally, statistically speaking, there are over 185 million WAX tokens currently in circulation today, but the currency is still not that popular online. For starters, WAX is not even being tracked by CoinMarketCap.com at this point in time. Thus, it is up to anybody’s best guess to where the market might be heading, but one definitely should be excited towards the way things seem to be panning out for the crypto world.