Mike Novogratz's $500m Crypto Fund Invests in Worldwide Asset eXchange

Mike Novogratz and his newly created $500 million crypto fund, Galaxy Investment Partners, have invested into Worldwide Asset eXchange (WAX), a new decentralized marketplace for trading video game assets.

WAX is the creation of OPSKins, which claims to be the largest marketplace in the world for trading these video game assets with millions of users and over 200,000 new user registrations each month. The company says it has recorded over 150 million transactions over the past 18 months.

“Having a legendary investor like Mike Novogratz along with all of our all-star team of investors, advisors, and video game industry legends see the potential in our vision for the WAX platform is an incredible testament to what we have planned,” says Malcolm CasSelle, President of WAX and CIO of OPSkins.

“With OPSkins, we are the largest marketplace in the world in a $50 billion dollar a year industry. The WAX platform will allow millions of our users and the 400 plus million people each year in this industry to trade in-game virtual items across any country with only a few clicks and very low fees. We see the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term as the future of our industry and we are essentially disrupting ourselves with the WAX platform. In fact, OPSkins will be the first user on the WAX platform.”

Novogratz and Galaxy Investment Partners join previous investors, including: Pantera, HyperChain Capital, Kenetic Capital, Bo Shen - founding partner of Fenbushi Capital and Blockassets, and others.

The company has also announced that Anthony Di Iorio, co-founder of Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term, Dave Anthony, a creator and developer behind Call of Duty, and Brian Fargo, founder of Interplay Entertainment and inXile Entertainment, have joined their advisory board.