OKX Blockdream Ventures announced that they have invested “tens of millions of dollars” in blockchain network WAX Studios. The funding is slated to go towards greater functionality of NFTs in play-to-earn games built on WAX, the development of an exchange for play-to-earn gaming tokens, and upgrades to the WAX Cloud Wallet.
“This initiative with OKX Blockdream Ventures will further our mission to sustainably scale the WAX ecosystem and across multiple blockchains, bringing blockchain gaming to the mass market,” said William Quigley, CEO of WAX Studios. “Enthralling gaming experiences, seamless user experiences, and closer, more effective collaboration with game developers will all be facilitated with this initiative, and we look forward to further cementing our position as the most multi-faceted NFT and gaming studio.”
The new funds will also support development of the WAXex exchange, which will list the native tokens of the games built on the WAX blockchain, making it easier for new blockchain-based games to enter the market.
With 12 million user accounts, WAX supports over 23 million daily transactions across NFT trading, play-to-earn gaming, and more. The platform is used by some of the biggest brands like NASCAR, Sony, Hasbro, and Mattel for creating and selling their NFT collections.
(All information was provided by Yahoo!)