Developments, growth, community and plans for the future
In this 2024 overview for the WAX ecosystem, we will take a look at various aspects of the blockchain and the impact it had. We will look at the project that gained the most traction, tokens that increased the most in value, and of course the NFT collections with the most trading volume. Moreover, we will dive deeper into the groundbreaking partnerships, exciting new product launches and network enhancements that have taken place this year.
In this overview we highlight the biggest developments from the WAX ecosystem. We take a look at the key developments and partnerships, followed by the community engagement. After that we highlight the success of Wuffi, followed by a look into the future.
Key developments and partnerships
NFT and Token Bridge Enhancements
WAX introduced an upgraded NFT and Token Bridge, creating a user-friendly, fee-free way for users to transfer assets across various blockchains, including Ethereum, Binance Smart Chain, and Polygon. With this bridge, users can effortlessly connect and manage assets like BRWL, WAX (ERC20), DAI, and USDC through a simple Cloud Wallet interface. This cross-chain functionality underscores WAX’s commitment to a multi-chain future, making asset transfers more accessible and highlighting its vision for interoperability in web3.
Star Wars Digital Collectibles with Funko
Funko brought Star Wars Digital Pop! collectibles to the WAX ecosystem, blending digital assets with physical collectibles. Fans could purchase exclusive digital collectible packs and, by completing specific sets, earn tokens to redeem for physical Star Wars figures. Hosted on the Droppp marketplace, this launch bridged the gap between digital fandom and physical ownership, showing WAX’s appeal to both pop culture enthusiasts and blockchain adopters.
Strategic Partnership with Amazon AWS
Through a high-profile partnership with Amazon AWS, WAX introduced the WAX AWS Cloud Development Kit (CDK). This toolkit allows developers to build custom Layer 2 blockchain solutions on WAX, leveraging AWS’s cloud infrastructure for scalability and reliability in web3 applications, especially in gaming. With WAX’s transaction speeds and AWS’s cloud capabilities, developers have access to API and Ship Nodes for real-time asset management and deep data retrieval, making it easier than ever to build scalable, data-driven blockchain projects.
Strong community
The number of active wallets has been very stable throughout the year, fluctuating between 150,000 up to 200,000 active wallets per day. However, data by DappRadar does show that the number of transactions has increased from 5 to 6 million per day, even dropping towards 4 million in Spring, to 6 to 7 million daily transactions at this moment. This means that users engage more with projects building on the WAX blockchain.
The space exploration metaverse Alien Worlds is among the most used dapps in the WAX ecosystem. Not only does it attract the most unique active wallets (UAW), but they also keep innovating by merging NFTs, gameplay and DAO systems. In other product categories, we also have clear leaders.
For example, AtomicHub allows users to trade NFTs, while Alcor Exchange is the go-to destination for those looking to swap tokens. Among the most popular traded NFT collections on AtomicHub, you can find Alien Worlds of course. In addition, there’s strong demand for various FunkoPop collections, such as the TMNT series or the ones featuring Cartoon Network, Rick & Morty or Batman’s 85th Anniversary.
As mentioned above, the unique active wallets on WAX perform many transactions. Various games tap into the abilities of the WAX network to enhance their gameplay. As a result, some dapps have users do more than dozens of transactions per wallet, per month. This includes projects like strategy mining game Prospectors, the space expansion game Thrive on Mars, and of course the earlier mentioned Alien Worlds.
The Rise of Wuffi Game Token (WUF)
One project deserves its separate mention, and that’s Wuffi. Adding a unique element to the WAX ecosystem, developers within the WAX community created the Wuffi Game Token (WUF) as a memecoin with real utility for gamers. Initially launched through an airdrop, WUF encourages gaming engagement and provides benefits within blockchain-based games like Twitchy Tides, ZombieCoin, and Brawlers.
- Expanding with Solana: To expand WUF’s reach, the Wuffi project partnered with Solana, enabling cross-chain compatibility and setting a foundation for future growth across blockchains.
- Focused on Gaming Utility: With WUF’s utility centered on real value, it avoids the volatility common in memecoins. Featuring over 100 partners, WUF provides gamers opportunities to mine tokens within mini-games, establishing it as a fun, valuable asset in the WAX gaming ecosystem.
In 2024, WAX made a significant move by integrating with TON, the blockchain network strongly associated with the Telegram social media platform. Through the WAX-TON Bridge, users can now seamlessly transfer assets between the two networks, opening up new opportunities for both ecosystems. This collaboration expands WAX’s reach by tapping into TON’s large and active user base, particularly in the gaming and NFT spaces, and is expected to enhance WAX’s position within the blockchain community, especially among Telegram’s vast user base.
What’s coming?
Here’s what’s coming to WAX in the near future:
- Sidechains and Cloud Wallet Improvements: WAX is gearing up to introduce sidechains to help scale its ecosystem efficiently. These sidechains will initially launch on the testnet via Cloud Wallet, enabling WAX to handle more applications without overwhelming its main chain. Additionally, WAX is working on optimizing Cloud Wallet to make account creation simpler and more cost-effective, aiming to eliminate friction for new users.
- EVM Compatibility: WAX is testing compatibility with Ethereum Virtual Machine (EVM), which would allow users to interact with Ethereum-based dApps. This feature could be available in the future, offering broader interoperability with Ethereum.
- Mobile Cloud Wallet: WAX is preparing to launch a mobile version of Cloud Wallet for both Android and iOS, making it easier for users to sign transactions on the go, especially in the gaming space.
- Cross-Chain Bridges: WAX is expanding its cross-chain bridge capabilities. It’s already supporting $WUF token transfers and plans to extend this functionality to NFTs across chains like Solana, Base, and TON, enabling seamless asset transfers between these networks.
- Meme Coin and AI Integration: With the rise of meme coins in Web3, WAX is actively supporting meme coin projects and supporting the $WUF token developers, particularly for the Wuffi ecosystem. Additionally, WAX is encouraging developers to explore AI integrations, as this is expected to be a major trend in the Web3 space.
WAX maintains its position as one of the most active blockchains in gaming, with over 200,000 daily active wallets and millions of daily transactions. By supporting popular NFT projects and remaining 100% carbon-neutral, WAX reinforces its dedication to sustainability and broad user appeal, creating a scalable, accessible platform ideal for blockchain gaming, collectibles, and web3 applications. With the developments mentioned above in the pipeline, 2025 is looking bright.
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Disclaimer — This is a sponsored article. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.
