Malcolm Casselle: Leading Tokenization of Virtual Assets

Worldwide Asset Exchange (WAX) shows very clearly the impact of the tokenization of in-game items. This company is a decentralized platform which facilitates the business of interested buyers of virtual game assets. By conducting business through WAX, the participant’s transaction costs are decreased, and a marketplace now exists for the transfer of game assets. Player profits are fractionalized due to the centralized exchanges. The primary advantage of tokenization is the ownership of virtual assets.

By decentralizing both the governance and the delivery operations of modern day exchanges, guilds will focus on regulatory oversight by monitoring ownership and authenticating items. The transfer agents will manage the actual asset delivery. This has the potential of eventually increasing a product’s value. The positive result is that sellers have an incentive o update the on-chain WAX token immediately upon selling of the items. The inherent value of physical items transacted on WAX’s platform is expected to increase as network reputation and credibility is established.

Malcolm Casselle is the President of WAX (Worldwide Asset eXchange). He presently holds the position of CIO of OP Skins, the largest marketplace for the commercial exchange of online video game items. His job history includes his role as cto and president at the former Tribune Publishing, a company that oversaw fast growth properties involved in the leveraging of digital assets. Before that he was GM & SVP of Digital Media at SeaChange International. Previous to that, Malcolm Casselle led several startups in the digital industry.

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Those startups included Xfire, a $22 million gamer social network, MediaPass, a major digital subscription solution of media companies, and a joint venture of China’s Tencent and Groupon. He has actively invested in Zynga, Facebook, and vertical block chain and big data funds. Previously he co-founded PCCW, a Hong Kong publicly traded telecom. PCCW is valued at over $35 billion, and Malcolm also to assisted with the procurement of the billions of capital necessary for the public offering of PCCW. He holds degrees from both Stanford University and MIT in computer science. He is bilingual, speaking both Mandarin and Japanese.

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