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In the future envisioned by 0x, traditional investments in the likes of real estate or company stock will happen on the blockchain. Backed by real assets, security tokens will exchange in a way that makes the transactions far more liquid, secure, and cheaper.
0x is using blockchain, the decentralized ledger technology that is both transparent and secure, to create an open protocol for a trading ecosystem that enables both the creation and exchange of assets. The company created its first version of 0x a year ago as a public infrastructure for exchanging digital assets on top of the Ethereum blockchain. More than $300 million in asset volume has been traded on the platform so far, and 0x raised $24 million in August 2017 in its own ZRX token sale.
And two weeks ago, 0x launched the second version of its protocol, enabling developers and traders to exchange tokens based on even more items, including collectible game cards. This is part of an attempt to revolutionize our financial infrastructure and to turn the blockchain hype train into something real.
“The long-term trend is that the world is being tokenized,” said Will Warren, CEO of 0x, in an interview with GamesBeat. “All sorts of assets are going to end up being represented as digital tokens on the Ethereum blockchain or other blockchains like it. Traditional assets like securities, stocks, bonds, debt instruments, software licenses, and video game items will be sold through blockchain tokens. We are prioritizing the video game items now.”
On the real estate side, the luxury hotel St. Regis in Aspen, Colorado, is selling blockchain-based tokens to investors who want a small stake that they can easily trade. Rather than wait for the hotel to be sold, the investor can cash out simply by selling their tokens to someone else. In short, the hotel has been “tokenized.”
This doesn’t mean that 0x will enable “play to win.” Rather, it means that you’ll be able to buy cards or items that will give you cosmetic advantages or bragging rights, rather than additional capabilities to conquer your foes, Warren said. For instance, if you got a bunch of kills with an item, the stats associated with that can be attached to that item indefinitely, thanks to the blockchain.
0x’s investors include Polychain Capital, and the company has raised $24 million to date. It has 25 employees. Over time, Warren hopes that a larger community will take over the 0x protocol and run it, rather than a single company.
Warren and Amir Bandeali founded 0x in 2016 to create a world where all assets can be tokenized and freely exchanged. It’s an open and free-to-use protocol that allows frictionless and decentralized peer-to-peer exchange of tokens.
“It’s a globally accessible, open economy,” Warren said.
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