The WAX (Worldwide Asset eXchange) blockchain is positioning itself as one of the reference blockchains for the non-expendable token (NFTs) and online video games market. This is thanks to the speed of transactions and the low cost of their resources as well as the important firms that are publishing their collections in this chain. Garbage Pail Kids, Blochchain Heroes, KOGS, Bitcoin Origins, William Shatner, Bratz, Street Fighter are some examples of the existing collections with which we can trade in wax secondary markets.
To learn more about NFTs see Article Tokens: A Brief Introduction to Digital Fashion Values
It’s really simple and fast to start making money on WAX blockchain. Perhaps with the ideas I’m going to put forward in upcoming articles we can’t prejudize ourselves thanks to huge profits, but I’ll try to lay the groundwork for how the ecosystem of a blockchain geared towards video games and the trade in digital assets in NFT format works.
There are two immediate ways to start making money on WAX without investment or with very little investment.
- Player: Join one of the existing games and start mining resources or earning NFTs to trade with them. Most games are free-to-play but a small upfront investment helps return on investment (ROI) and profits come sooner.
- Artist: Create your own collection of art cards or cards and put them up for sale or at auction at one of the WAX markets. If you are going to start here I recommend reading this other article that I wrote from my own experience: Create a successful collection of NFTs on WAX Blockchain.
Whatever path you choose, the first thing you’re going to need is to create a user account.
Get your free WAX Blockchain account
Another important factor that is enabling the rapid adoption of the WAX ecosystem among the general public is the ease of accessing it. Thanks to the WAX Cloud Wallet tool, from the same creators as the blockchain, we can create a free user account with just a few clicks and associate it with an existing account of some social network.
Log in https://wallet.wax.io and select the account for your Gmail or social network email that you want to use to sign in to WAX with just a couple of clicks.
Here’s a video where I’ve collected the whole account creation process that, as you can see, is very simple
As I explain in the video, the created account will have a somewhat peculiar username, consisting of randomly chosen letters and numbers with no meaning. This name cannot be changed but you will be able to create a more personalized account (I will explain this process in another article).
Signing in with WAX Cloud Wallet
If we are very impatient we can go to the list of dApps in which we will find the most outstanding applications of the WAX ecosystem.
Perhaps it is a good idea to enter the most important NFT trading market on WAX (and we could say of all blockchains, if we take care of the thousands of users who trade on it every day).
In the top right you will find the button to log in and log in with your newly created account.
By clicking on this button we will be asked to select a Wallet through which to identify ourselves, among which we will find Wax Cloud Wallet:
WAX Cloud Wallet not only serves us to create a guarded account but is also a wallet, or wallet, for our WAX cryptocurrencies and NFTs. The only drawback, as I explain in the video, is that this e-wallet is not used by us and we do not have the private keys to our account. That’s why I don’t recommend using these types of accounts to store our cryptocurrencies but it will be very useful for us to access “minor” services like online games without taking too many risks and enjoying their ease of use.
Later we’ll see how to create an account fully guarded by us and learn how to set up Anchor so we can sign in with that account. For the time being we will continue to use the WCW account.
Every time we want to log in with WCW or authorize a transaction we must give the wallet permission to sign the transaction for us.
If you want to expand knowledge about cryptographic principles and key pairs I recommend watching this other video from my channel:
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