Waxstash Marketplace Review
Waxstash Marketplace is a digital goods store built on the WAX blockchain. It was founded in late 2020.
We have not been able to obtain that much information on this particular NFT Marketplace from its website. Looking at their Twitter, however (@waxstash), we can see they in addition to their regular marketplace also has an escrow function. This seems like a very useful tool in the NFT-business and we're quite sure that other marketplaces will follow suit.
What is an NFT Marketplace?
An NFT Marketplace is a marketplace for NFT. So far so good. But what is an NFT?
NFT is an acronym for “Non-Fungible Tokens”. Something which is fungible is replaceable. For instance, one kilo of 24 karat gold is – at least in theory – replaceable with any other kilo of 24 karat gold. When something is non-fungible, it means that it is unique, and not replaceable with any other item out there.
Although NFTs are conceptually similar to cryptocurrencies, these digital assets might represent antiques & artworks, collectables like trading cards, and other items with unique features. These tokens are stored cryptographically in a blockchain network for authentication and validation. Even when transacting, each token is sold as a whole, unlike cryptocurrencies which are divisible into smaller units. NFTs lose their value when split into smaller portions, however, they can be duplicated by the artist and each additional copy can be sold separately (but the total number of duplicates will then always be known).
Waxstash Marketplace Focus
The Waxstash Marketplace's is a marketplace built on WAX. WAX is an acronym for Worldwide Asset eXchange, and they claim to be "the world's leading decentralized vidoe game and entertainment network". They also claim that they deliver the world's "safest and most convenient way to create, buy, sell and trade" NFTs to anyone anywhere in the world. Bold statements indeed!
Waxstash Marketplace Fees
Unfortunately, we have not been able to find what fees Waxstash Marketplace charges a buyer when purchasing an NFT. We have asked the marketplace about this and we will update this review with the correct information as soon as we have received it from them.
Layout of Waxstash Marketplace
Different NFT Marketplaces present their NFTs, the latest bid and the remaining time of an auction etc. in different ways. What you are most comfortable with viewing and using is up to you and no one else. The following picture is a print screen from Waxstash, showing their landing page (incidentally also being their "browse mode"):
If you move in to a particular NFT, you will be met with the interface in the below picture. The rarity of the NFT will be presented, what collection it belongs to, who currently owns it, and what it costs. This particular NFT doesn't have a name, as far as we can tell, other than Asset ID 1099519613860. The artist is alessandra_ottaviani. To be honest, this NFT interface is a little bit odd in our opinion, but only you can say if it feels right to you.
Waxstash Marketplace Payment Methods
A few of the NFT Marketplaces out there accept deposits and payments via credit or debit card, and some even accept PayPal-deposits.
Waxstash Marketplace is not one of those marketplaces. Accordingly, you need to have a previous holding of WAX-tokens in order to be able to interact on this particular marketplace.