Non-fungible tokens (NFTs) have fitted in well with the various options available to investors in recent years. And as you can imagine, it has been beneficial for several companies and brands. We could notably cite WAX. The company managed to include in the list of its partners many brands and attracted millions of customers to it. For this reason, it plans to distribute free NFTs to them to celebrate its growth.
Rapid growth in the sector
In recent years, while NFTs have invaded newsrooms around the world and some have devoted long articles to them, WAX (WAXP) has struggled to promote itself. However, despite the little popularity she achieved, she quietly performed, great performances. For example, it has the trading volume of smart contracts The highest.
Furthermore, WAX recently passed the milestone of 10 million wallets on the platform. It therefore remains a major player in its sector of activity. To thank its customers and express its gratitude to them, the company plans to create 10 million free NFT collectibles on these wallets. This project is presented as one of the largest in the sector.
The information revealed allows us to know for the moment that the NFTs will cover the main periods of the life of WAX: its creation, the launch of its main network in 2019, its carbon neutrality certification, its partnership with AMC and Sony Pictures to Spider-Man: No Way Home, etc
A very large project
CEO and co-founder William Quigley told Decrypt that WAX wanted to mark the portfolio milestone with a large-scale drop that it said would be impossible on other major platforms. With the NFT project, the company also wants to show brands that it’s time to switch to non-fungible tokens. She wants to demonstrate that it is possible to achieve big projects with millions of NFTs using one platform.
“Most people who know a bit about NFTs understand that Ethereum NFTs are slow and very expensive to mint,” did he declare. “And so we thought, Well, nobody’s ever tried to make 10 million NFTs. We may have made 2.5 million with Topps MLB baseball cards, but even that was way above anything the other chains had done.”
So the creation of millions of NFTs is both a big project for the industry, but also a project that will allow the company to better promote itself. According to its CEO, it had approximately 500,000 users of its website at the end of 2020. However, just over a year later, this figure has risen to 10 million, which corresponds at a multiplication by 20.
To celebrate the registration of 10 million people on its platform, the WAX company plans to design 10 million NFTs that it will make available to its customers. Will all customers benefit? Hard to know! Either way, WAX is determined to achieve its goals.
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Behind the generic signature “TCT Writing” are young journalists and authors with specific profiles who wish to remain anonymous because they are involved in the ecosystem with certain obligations.