Overview of WAX Partnership
True digital ownership is made possible on WAX and is unleashing a new paradigm. Blockchain gaming/trading has great potential with amazing projects such as WAX & ULTRA both competing in the same field to innovate and grow the blockchain gaming ecosystem. With WAX’s recent partnerships it is proving to be a highly desired blockchain of for companies wanting to utilize blockchain technology.
Key Information about trading cards market
How large is the industry of sports memorabilia collecting with regards to annual sales?
Many figures have been tossed around from time to time and those doing so didn't seem to have an understanding of what the “sport trading card/memorabilia industry” really is or where the products get sold. A lot of the studies were conducted by those of which had no previous experience in the industry. An article written by Dave Yoken
who created the Collectible app, unveiled the massive amount of revenue passing through the sports memorabilia market which is a staggering $5.4 billion per year conservatively considering some of the transactions are using peer to peer fiat transactions. Ebay taking the lead with a $4.7 billion volume annually. Following up with independent auction houses, private auction house events, and online/miscellaneous routes to obtain collectibles. Transactions involving experienced collectors usually use private means of purchase as well as big deal card shows are all under the table. Many more millions of dollars worth of cards and other collections are for sale on social media annually. With all that said, $5.4 billion is a more understandable value than the industry rumored before and you can bet they’ll be trying to refine the operation here on out.
WAX partners with Topps
After announcing a global iconic partnership with a mystery company in February and soon releasing the name of the company in early March, WAX unveiled its anticipated partnership with Topps, one of the industry leading collectible trading card producers for MLB, Star Wars, WWE and many more iconic global brands.
What does this partnership introduce to WAX?
This will bring users to the WAX Blockchain via Topps trading card platform that is launching on the WAX blockchain. The digital cards will be offered as NFTs released on the WAX blockchain. They are validated and tracked via WAX Blockchain to secure the transactions and verify their unique authenticity. Fans and collectors will be able to discover, track, and trade their cards in a formal matter along with instant transactions and securely across all borders.
What are the benefits for using the WAX blockchain?
When blockchain technology meets collectibles like Topps trading cards, collectors can:
- Trade collectibles instantly, with anyone, anywhere in the world
- Trade with ease from a smartphone or computer — for free!
- Trade with confidence that every collectible is certified authentic, unique, and can never be altered
- View a collectible’s full ownership records and trading history
The first collection of digital trading cards will be released by Topps during Spring 2020. Users are able to obtain the collectibles simply by creating an account with WAX Cloud Wallet and using their credit/debit card. You can already join the community by registering on a waiting list on: topps.wax.io
“Topps is bringing their collectibles to the forefront of digital innovation and is determined to leverage the opportunities that the blockchain can provide. I believe the WAX Blockchain will have an important and positive impact on Topps future business models and the way they engage their fanbase. We are very pleased to welcome Topps in the WAX family of dApps,” said Evan Vandenberg, Director at WAX.
This partnership is extremely bullish for the WAX ecosystem in our opinion because this will onboard hundreds of thousands and potentially millions of people on to WAX accounts all trading, buying and reselling, trading cards. With a $5 billion+ yearly industry volume Topps will bring some of this volume to the WAX blockchain. Welcome Topps to the WAX ecosystem :)
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Twitter: @blokcrafters @nkerkinni @brandondickey16