WAX Review 2026: EOS-Compatible Chain Built for NFTs

WAX is a blockchain released in 2017 that sources describe as purpose-built to make e-commerce transactions faster, simpler and safer for everyone involved. It runs on delegated proof-of-stake and is fully compatible with EOS. Its native token is WAXP.

The project's early identity was linked to OPSkins, a trading platform for game items. The token sale ended in November 2017, and the ERC-20 token became usable on OPSkins that December. The native WAX blockchain went live in 2019, and in 2020 one source reports Topps released digital Garbage Pail Kids cards on the network.

Market data from one price page shows WAXP trading far below its 2017 and 2021 peaks, with a circulating supply of about 4.67 billion tokens. The project's official site could not be reviewed here, so details such as current ecosystem size, team and audits are not covered.

WAX is a layer-1 blockchain, meaning it has its own validators and its own native token, WAXP. It uses delegated proof-of-stake: token holders vote for a limited set of block producers, who take turns validating transactions and adding blocks. This design generally gives fast confirmation, at the cost of fewer validators than some other networks.

The chain is described as fully compatible with EOS, so developers can use EOS-style tooling and smart contracts. WAX was designed around e-commerce and digital items. In practice, that has meant NFT collections, virtual marketplaces and branded collectibles, where ownership of an item is recorded on-chain and can be traded between users.

WAXP began as an ERC-20 token sold in 2017. After the native mainnet launched in 2019, holders could swap their ERC-20 tokens one for one for native WAXP.

The sources reviewed do not publish a native network fee schedule for WAX, so costs of transfers, NFT minting or marketplace trades are not stated here. Users would see actual resource and transaction costs in a WAX wallet or in the marketplace they use.

Trading WAXP on an exchange has separate costs. One broker page lists a 0.15% fee per trade, while other exchanges set their own rates and may charge extra for card or bank payments.

The sources reviewed do not publish audit reports, validator details or a security track record for WAX, so those points should be checked in the project's own documentation before relying on it. Delegated proof-of-stake relies on a limited set of elected block producers, which is a trade-off between speed and decentralization.

If you hold WAXP on an exchange, you rely on that exchange's custody. Exchange pages note that security measures protect account access, not the value of assets, and crypto prices are highly volatile. Self-custody wallets put key management and backups on you. Be careful with free airdrop offers and fake wallet sites.

WAX is for NFT collectors, developers comfortable with EOS-style tooling, and crypto users who want exposure to a long-running digital collectibles chain. It is less suited to anyone who needs a large DeFi ecosystem or clearly published fee and audit information.