Note: The original author is Akahilz!
In the context of web3, the term “touching grass” means being able to enjoy the fruits of your labor after working. The WAX blockchain, which this guide focuses on, is the tool that will help us seize opportunities in the bull market and future bull markets.
It should be clear that even newcomers can make considerable gains in the bull market without investing any initial capital. The cryptocurrency or blockchain field is full of opportunities, and you may miss some for various reasons, but information and contact are the key to seize these potential opportunities.
WAX and the Bull Market
A bull market is a period when most projects increase in value, with Bitcoin (the first cryptocurrency) often leading the trend, followed by other cryptocurrencies such as Ethereum. This is also the period when the adoption of blockchain technology increases, with early adopters usually reaping the greatest benefits. Here are some key factors and bullish indicators to note:
2024 US Election: Since Donald Trump was elected president, the cryptocurrency market has almost doubled in valuation, growing from a market cap of approximately $2 trillion to over $3 trillion currently. This is mainly because President Trump is considered to be friendly to cryptocurrencies, and there are rumors that he will buy coffee with Bitcoin after his re-election. However, this claim has yet to be verified.
Elon Musk: The world's richest man also supports cryptocurrencies and has become a real supporter. He recently officially joined DOGE (the government efficiency department named after the cryptocurrency) in an ironic way.
Institutional Investment: Top companies like MicroStrategy are leading the way. MicroStrategy CEO Michael Saylor has been a vocal supporter of Bitcoin, and his company recently invested heavily in Bitcoin, purchasing an additional 51,780 BTC, bringing its total holdings to 331,200 BTC.
El Salvador: El Salvador is a country that supports cryptocurrency, and Bitcoin has been legal tender in the country for about three years.
WAX is a creator-centric decentralized blockchain designed for digital asset trading, including NFTs and virtual goods. It uses a delegated proof-of-stake (DPoS) consensus mechanism, with fast transaction speeds, tens of thousands of transactions per second, and low fees. This makes it an ideal choice for developers who want to create NFT marketplaces or blockchain-based games, as well as users who are looking for a seamless experience in digital asset trading.
Getting Started with WAX:
If you are a beginner, the following key benefits will help you get started quickly:
WAX Wallet: Set up your WAX Wallet for free (get an activation code by sending a message, or through a WAX community like Discord), or use just 5 $WAXP (from any exchange). When I first started, I bought $1 worth of $WAXP to fund my wallet and still have some left.
WAX Staking: Here, you can earn up to 8% annual interest on your idle WAXP through the staking feature on the WAX Cloud Wallet. For those who wish to invest, this can be considered a passive income, but be aware of market volatility and invest with caution.
WAX Cross-Chain Bridge: I used the WAX Cross-Chain Bridge about a month ago while attending the WUFFI Tap event. I paid a lower fee while bridging my $WUF to the WAX Chain so that I could exchange/hoard digital currency. Just find the bridge section in CloudWallet to use this feature. This should be very useful over time.
WAX Explorer: You probably don’t need this very often (if you’re a basic user), but this is an explorer for the WAX blockchain for viewing on-chain activity and other benefits on the site. Track transactions, explore accounts, and easily dive into smart contracts. Your gateway into the WAX ecosystem starts here.
Join the WAX Community: Now, your task is to familiarize yourself with the WAX ecosystem. I started by following WAX on all social media channels (especially Twitter/X) and on the website.
WAX Top Projects:
Just like a first aid kit should be stocked with items that every health-conscious person needs, for the WAX Blockchain, in addition to having a decentralized WAX Wallet, you’ll also need to be familiar with the following items:
Alcor Exchange: This is a decentralized exchange for trading cryptocurrencies that also offers many other benefits. It is very useful if you want to exchange, trade or farm a pool of cryptocurrencies that are not yet traded on centralized exchanges (CEX).
NFT Marketplaces: So far, I've used about four unique marketplaces on WAX that should help you buy, sell, or flip NFTs. Explore Neftyblocks, AtomicHub, NFTHive, vIRL, and more.
WUFFI: Wuffi Tap Season 3 has just started, and participants will receive $WUF rewards, which will last for a while. Your task is to explore this click-to-earn game and get a high ranking. In addition, you have the opportunity to own $WUF (optional), which is one of the popular meme token projects on WAX.
Alien Worlds: This metaverse gaming community offers a wide variety of opportunities. You can earn a ton by being active, as they often give out $TLM to top contributors. Additionally, you can explore game quests, where you can own or rent land, buy NFTs, and mine TLM. Lastly, monetized lore events allow storytellers to craft engaging stories and get paid.
Intraverse: This is an exciting PVP game with many exciting competitions to help you collect liquidity. Represent a community and hope to win big prizes.
Rada Quest: Another exciting way to play, you can get super cool rewards by exploring. This is the best fantasy TCG game with amazing collectible hand-drawn art.
FGL NFT Games: This is a Web3 game distribution company that focuses on providing entertaining Play & Own games.
Meme Launchbagz: Used for occasions like the $WUF launch, this should be very useful when demand starts to increase.
Strategies for developers leveraging WAX:
Build an NFT Marketplace: You can create an NFT platform on WAX and leverage its low cost and user-friendly tools to attract users looking for unique digital assets.
Participate in the GameFi project: With the rise of GameFi (game finance), you can use WAX’s capabilities to create blockchain games that utilize NFTs as in-game assets or rewards, thereby increasing player engagement.
Leverage Marketing Tools: Take advantage of marketing opportunities within the WAX ecosystem to effectively promote your project, including social media engagement and community events.
Strategies for regular users to take advantage of WAX:
Invest in NFTs: Explore opportunities to create or invest in NFTs on the WAX Platform. Discover popular items or unique collectibles using the WAX NFT Marketplace.
Participate in community events: Participating in WAX-hosted community events can provide insights into new projects and trends in the WAX ecosystem while fostering connections with other enthusiasts.
Get extra rewards: Join the WAX Hub and earn rewards for contributing!
Explore GameFi opportunities: Provide entertainment and potential financial rewards using game monetization mechanisms involving NFTs.
Safety Tips
Here are some notes shared by Sir Tommy, WAX Head of Operations:
"This is my friendly reminder. Now that the market is starting to improve again, scammers are also out there. Please be wary of the following situations:
Do not trust anyone offering you a moderator position or any other position through private messages.
Do not click on any links or download any files; if you need to download a 'game' in order to understand its art style, please do not do so.
Phishing via email is on the rise; before clicking on anything, verify the source email address and any links you see in an email.
If you think your password may have been compromised, go directly to the site you are using and reset your password.
If someone offers you something that sounds too good to be true, it’s probably a scam; don’t wire money to an unknown account expecting to get more in return.”
be safe!!!!!
Summarize
At the end of the day, you want to benefit from underlying trends, fundamental life-changing opportunities, and WAX currently has some hidden gems worth watching (listed above, but there are still more to discover). The bull market provides developers and ordinary users with a great opportunity to take advantage of the unique advantages of the WAX blockchain. With its focus on digital asset management, low transaction costs, user-friendly interface, and strong community support, WAX is well-positioned to drive the development of the NFT and GameFi industries. By strategically participating in the platform during this bullish phase, developers and users alike can unlock huge potential.
Explore the WAX Community:
Website: https://www.wax.io
WAX/Twitter: https://twitter.com/WAX_io
Discord：https://go.wax.io/discord
*Friendly reminder: This article is for popular science purposes only and does not constitute any investment advice!
