Why 2021 Was Monumental for the WAX Blockchain + What’s Next in 2022
It’s safe to say 2021 has been a monumental year for the WAX Blockchain and our rapidly growing community.
Reflecting on the past 12 months, the WAX ecosystem has grown by leaps and bounds and evolved in new and exciting ways.
Before we dive into the specifics, we want to thank our loyal community for trusting in our vision and the brands/developers/creators who’ve been bold enough to proudly build on WAX.
#1 Metaverse Blockchain for Video Games and NFTs
Going into 2022, WAX has become a disruptive force in the world of blockchain, NFTs and play-to-earn gaming.
We’re gearing up to officially celebrate more than 10 million WAX Cloud Wallet accounts in a method that’s never been done before in the history of Layer 1 blockchains.
This comes at a time when the WAX Blockchain:
- Processes an average of 15 million+ daily transactions (8,000 per second).
- Often exceeds 500k daily active users.
- Has facilitated the trade of more than 100 million digital collectibles.
- Is the most used and transacted blockchain in the world.
Keep reading if you’d like to know how we’ve gotten this far.
The WAX Evolution
Since our inception in 2017, our mission has been to bring NFTs to the mass market in the easiest, safest, most secure and environmentally friendly manner possible. To accomplish this, we’ve architected a purpose-built blockchain ecosystem that’s lightning-fast, highly scalable and affordable for brands, creators and developers.
The following is an overview of the most important leaps we’ve made over the past five years:
The Year of Big Brands + Play-to-Earn Games
In 2021, we continued to grow new partnerships and expand on those we developed in 2020. Wildly popular collections from Mattel, Hasbro, Funko, MLB, Street Fighter, Leaf Trading Cards, Atari and more delighted new and old NFT collectors alike.
The WAX Blockchain has also become home to many of the world’s hottest play-to-earn games including Alien Worlds, Splinterlands, Farmers World, R-Planet and Farming Tales.
Additionally, our utility token, WAXP, was listed on several major exchanges including Binance, Bittrex, Simplex, Crypto.com, MoonPay and Gate.io — making it easier for collectors and gamers to use for their adventures.
To give you a better idea as to why leading brands are increasingly partnering with WAX, it’s important to dive into some specifics:
Mattel Hot Wheels NFT Garage Series
More than 67,000 collectors queued up for a chance to score a pack of Hot Wheels NFTs, with Jay Leno’s Garage as the launching pad for the collection. The sale lasted a mere 38 minutes, as 17,010 packs sold out in a flash. Plus, the collection features a limited-edition physical diecast that can’t be found anywhere else in the world.
The effort was such a success that Mattel and WAX are already dreaming up a second series early in 2022.
Funko TMNT + Big Boy + Iron Maiden
Funko has been a superstar on WAX with its Teenage Mutant Ninja Turtles (TMNT), Big Boy and Iron Maiden series all selling out in minutes.
Between 30,000 and 50,000 fans have waited in the queue for each of the three drops, with the WAX Blockchain handling the volume with ease.
Hasbro Power Rangers
Hasbro released a Power Rangers NFT collection by using the WAX platform as the vehicle for launching its first vIRL NFT collection. Collectors accessed the NFT collection via the HasbroPulse site and were invited to redeem their NFTs for an ultra-rare Dino Megazord.
Spider-Man™: No Way Home
In celebration of Spider-Man: No Way Home, which hit theaters on December 16th, Sony Pictures, AMC Theatres and WAX partnered to bring exclusive Spider-Man: No Way Home NFTs to the public.
The first 86,000 AMC Stubs A-List, Premiere and Investor Connect members received an exclusive Spider-Man™ NFT after attending an opening day showing with their advance ticket purchase or reservation. Each pack contains one (1) NFT, and there are a total of 108 unique artworks and three (3) heroic varieties to be discovered and collected.
Tickets to the event sold out in less than an hour, with 86,000 NFT recipients looking forward to claiming their prizes.
Street Fighter has earned its space amongst the most sought-after and beloved NFT series on WAX. It all began with Street Fighter V Series 1 and 2, which will soon be followed up with the limited-edition Street Fighter Classic Series in early 2022.
William Shatner and Leonard Nimoy NFTs
For the first time ever in 2021, an intimate collection of photographs from Leonard Nimoy’s personal life and career on film was sold on the WAX Blockchain. This collection quickly sold out, reinforcing the everlasting appeal of The Final Frontier and the value of going boldly where no collection has gone before. Later in the year, ultra-rare 1-of-1s from the collection were auctioned via WAX Digital Auctions.
Artists + Musicians
The WAX community and the secondary market have given a definite thumbs up to some of the world’s leading musicians and artists including Weezer, deadmau5, chris (simpsons artist) x Deadhappy, Christina Jansen, William Quigley x Seth Lamburn (aka SkrapperPunk), Neil Leifer, John Van Hamersveld and more. Artist-driven collections have been amazingly popular on WAX, with most collections selling out in minutes.
WAX + The Environment + Carbon Offset vIRL NFTs
In the recent past (and for good reason), the topic of the environment and NFTs has been a huge concern for leading brands and their customers. In fact, WAX is the first certified carbon neutral blockchain — producing only about 110 tons of carbon a year and offsetting 211 tons.
As you’re probably already aware, Bitcoin and Ethereum protocols are anything but eco-friendly.
Bitcoin consumes around 202 terawatt-hours per year — more than entire countries about the size of Thailand. And, a single Ethereum transaction consumes as much electricity as an average U.S. household uses in a workweek and has a carbon footprint equivalent to 140,893 Visa credit card transactions or 10,595 hours of watching YouTube.
By utilizing a proof-of-stake protocol, WAX is able to use no more energy than a traditional game server to process transactions and has a carbon footprint that equates to 5.5 people for an entire year.
Furthermore, we doubled down on our efforts to curb carbon emissions by partnering with the National Forest Foundation and releasing the world’s first fully tradable Carbon Offset vIRL NFTs. These beautifully designed packs are available in various price ranges, and for every dollar spent and composted (redeemed), the National Forest Foundation plants a tree sapling.
These are a permanent installment on our blockchain, so you can take steps to erase your carbon footprint any time you’d like.
The Emergence of WAX Studios + What’s Brewing for 2022 and Beyond
As we were busy focusing on launching game-changing NFT collections, the play-to-earn gaming world has been brewing in the background.
WAX Studios took a flying leap into the realm of P2E on November 30, 2021, by launching the Blockchain Brawlers NFT Collection and game.
It all started on Binance NFT where collectors were invited to bid on and collect one or more “Founder’s Edition” Legendary 1-of-1 Blockchain Brawlers.
The first 100 Brawlers went up on the auction block, giving buyers a rare chance to get into the ring from the start: Standard, Hardcore, Cage Match and Death Match. Each Brawler will be integrated into an upcoming P2E game (more about the game below), where players will take the role of manager and send their Brawlers out to wrestle for fortune and fame.
The auctions on Binance NFT shocked the metaverse, leading to more than $600k in bids/sales and the Metaverse Champion alone selling for more than $40k.
Starting on January 4, 2022, 100 more “Founder’s Edition” 1-of-1 Brawlers will be auctioned via WAX Digital Auctions. The final 200 will be released later in the year, bringing the total number to 400.
Blockchain Brawlers is being introduced at a time when P2E gaming is picking up speed. It’s time to wave goodbye to the days of worthless in-game cosmetics and welcome a new era of competition that means something. BRWL will be available for the taking. We’re talking about a brand-new token that can be earned through epic Blockchain Brawlers gameplay.
The Bridge Between WAX + Binance NFT
In early 2022, a bridge between the WAX Cloud Wallet and Binance NFT will officially be forged by way of the Binance Smart Chain (BSC). This will allow for the “Founder’s Edition” Legendary Blockchain Brawlers to be transferred for use in the game. This is the very first chain ever to be connected with WAX.
New Tokenomics & DeFi Model on WAX
In January 2021, WAX Tokenomics and DeFi went live. This tokenomic model marries the explosive growth of NFTs with the superior monetization capabilities of DeFi. It enables anyone who participates to earn rewards in the form of Ethereum Tokens (ETH) and WAXG Governance Tokens.
Our 18th epoch was incredibly rewarding, with a massive WAX DeFi rewards payout and token burn!
Ethereum Virtual Machine + Ethereum Bridge
Development has begun on an Ethereum Virtual Machine to be deployed on the WAX Blockchain in the coming months, which in conjunction with WAX Labs’ 100 million WAX Token Fund, will help bring top DeFi, GameFi and other projects to the chain.
Not only will this bring amazing new technologies to WAX, it will allow Ethereum Smart Contracts to be run on the energy-efficient, low transaction cost WAX Blockchain.
WAX has only begun diving into what’s possible in the world of blockchain and beyond!
Our transition from the King of NFTs to the #1 Metaverse Blockchain for Gaming, NFTs and DeFi has been an incredible journey — we invite you to join us for an even more exciting 2022!
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