When the President of WAX (Worldwide Asset Exchange), Malcolm CasSelle, thinks about the future of his company he cannot help but be enthusiastic. His business is positioned correctly to exploit one of the critical drivers of the electronic gaming industry. Namely the ability to tout your status to other players in a given game.
Gamers show off by purchasing skins. A skin is a virtual item which players can introduce into a game as part of their in-game personalities. The price of these accessories can vary from a few cents to hundreds or even thousands of dollars. Mind you these skins are only digital creations. Some of the skins are hard to achieve and highly coveted. So much so that gamers are willing to pay real world money to own them.
Therein lies Mr. Caselle’s business. The value of turnover in-game skins is $50 billion annually. Up to now it was centralized marketplaces such as OPSkins, the parent company of Mr. Caselles company, which acted as reliable intermediaries between buyers and sellers of game skins. Businesses like OPSkins and others made it possible for players to exchange payment for skins using an in-game virtual currency which could be purchased using:
- credit cards
- coupon codes
Players could buy game skins brand new or purchase them on the secondary market at an agreed price from one another. However, you could not withdraw earnings in real cash. Not even your Bitcoin. That was a problem of sorts.
The tech-savvy managers of OPSkins decided that the advent of smart contracts coupled with blockchain technology would lead to a new era of decentralized peer-to-peer trading of skins. So, they acted proactively seeking out Malcolm CasSelle to lead WAX, their new endeavor. They tapped Malcolm Caselle as the President and CIO. He holds a BS from the Massachusettes Institute of Technology (MIT) and a Masters from Stanford in Computer Science.
WAXing Lyrical: Malcolm CasSelle Interview
Wax will be the name of the virtual gaming token which can be used by gamers throughout the world as a medium for trading skins. The genius of Wax is that although it stems from Etherium, it will be interchangeable with all cryptocurrencies. That is thanks to smart contract technology. The result will be a transparent, decentralized platform through which gamers can safely trade their skins, and profit in cash by doing so if they wish.
When Hurricane Harvey hit Texas is in 2017, so many residents homes were ruined, and lives were tragically disrupted. For the CEO of Nabors Industries, Tony Petrello, it was not a difficult decision to rally his employees to help assist in the recovery efforts. Through Tony Petrellos’ leadership, Nabors Industries, a local drilling company, stepped up to have a positive impact on the recovery efforts in the Houston area.
Tony Petrello was able to guide his employees and company to help the victims recover through various activities. Immediately after the storm, employees were given paid time off to go and provide assistance where volunteers were needed to help rebuild in the community. In addition to providing paid time off, Petrello set up a matching program called Nabors Disaster Relief Fund which was established to raise money for on the ground relief efforts in the neighborhoods impacted by Hurricane Harvey. The employees of Nabors Industries raised $173,622, and then Tony Petrello stepped up and matched the employee contributions. Finally, Nabors Industries were able to help provide hot meals to families by opening up their on-site kitchen to be used to produce hot meals for hurricane victims three times a day.
Read more: Tony Petrello’s Nabors Industries Will Purchase Tesco This Year
Although Tony Petrello was initially from New Jersey, he now considers Houston his home. It came as no surprise to Texas residents, that Tony was quick to step to the plate and provide generous assistance to the community in the aftermath of the hurricane. Both Tony and his wife Cynthia are well known in the Houston area for their philanthropic giving to local causes. One of Tony and Cynthia’s most significant donations was $7 million to the Texas Children’s Hospital for the research of childhood neurological disorders. In addition to the contribution, Tony was asked to serve on the Board of Directors with a focus on fundraising efforts. Research to find a cure for childhood neurological disorders is a cause close to their hearts as their daughter Carena was born with a disorder and they are dedicated to working with the hospital to help Carena and other children.
Tony and Cynthia also believe education is a critical area to provide assistance. While Tony attended the prestigious Yale University, his professor Professor Serge Lang had a significant impact on him. After the professors passing, Tony and Cynthia donated $150,000 to the endowment fund and then an additional $150,000 to match the generous donations of fellow Yale graduates.
Tony joined Nabor Industries back in 1991 and has been an integral part of the company growth ever since. Tony believes community outreach and charitable giving are an essential part of Nabor Industries and he looks forward to the continued business and philanthropic growth.