VirtualStaX has partnered with Telos, a third-generation blockchain platform that builds fast, scalable, distributed applications with fee-less transactions. The partnership with Telos means that all VirtualStaX, issued through the StaX App, will be minted on and verified through the Telos public blockchain. This integration with Telos will be seamless for Issuers and Users of the StaX App, with the front-end interface of the App staying exactly as per the original design. The integration of VirtualStaX on Telos qualifies TheXchange undeniably as a Crypto Exchange.
What is VirtualStaX? VirtualStaX (StaX) are blockchain certificates in your favorite talented people that you can own, collect and trade on the first global exchange for talent that will allow anyone the opportunity to interact on an all-inclusive platform and reach their full potential by amplifying connections between fans and talent. Through StaX, people have the opportunity to fund their own dreams, monetize their popularity and cultivate a following of fans who can share in their career’s success. Whether you are a rising star or superstar, VirtualStaX is a unique platform that will empower you to monetize your following and create a new way for you to connect and engage with your fans in your career. For fans and supporters, VirtualStaX allows you exclusive access to your favorite talent by owning, trading and collecting their StaX and benefit as they perform. VirtualStaX is a way to participate in their journey like never before.
Telos provides decentralization, a public ledger for verifying StaX ownership, high throughput and feeless transactions for our current needs at a reasonable cost. In the future, VirtualStaX will also tap into the NFT space through Telos. For four years, Telos has been up and running, tested and verified to be a stable blockchain which means users can have high confidence in the features and stability of their blockchain.
High throughput and feeless transactions are crucial for the transaction needs of VirtualStaX and the business model as a whole. Telos also has the potential to bridge to other sister chains and through the Ethereum Virtual Machine (EVM) provide the ability for cross chain transactions giving VirtualStaX a bridge to the Ethereum network, which could eventually link VirtualStaX to the digital security powering the platform, TurnCoin. Few other public blockchains can provide VirtualStaX with these opportunities. Telos governance over the blockchain also gives the team at TheXchange confidence in the chain as the team can publicly monitor future upgrades and collaborate on any possible needs VirtualStaX would need in the future.
Justin Giudici, Telos Foundation CEO mentioned that VirtualStaX is one of the most fascinating Web3 Apps they have seen in recent years. “Our team was captivated by their ability to integrate marquee sports stars Patrick Mahones, Drew Brees and their fans into a ready-to-use Web3 interface that leverages blockchain certificates and NFTs. When we reference a game-changer or market disruptor, we think of platforms such as Top Shots and Only Fans and their impact on their respective industries. With that said, we are confident in VirtualStaX's ability to deliver the combined impact of the aforementioned applications. We are honored and delighted with VirtualStax's decision to launch on Telos, and our network is ready-built to meet the demands it may generate”, explained Giudici.
“One of the biggest decisions we faced while building the VirtualStaX platform was the cost and speed of on-chain transactions. After evaluating a number of chains, our integration with Telos solves both the cost and speed limitations imposed by other technologies. We are able to pass the benefits attained through this integration on to our users, which plays a significant role in the adoption of the VirtualStaX platform”, confirmed Konrad Gastrow, Chief Technology Officer at VirtualStaX.
Andreas Evangelou, Chief Blockchain Officer at VirtualStaX mentioned, “As VirtualStaX’s blockchain architect I am confident in the technology, since I have been following the technology since 2017 and helped launch the Telos blockchain from its inception in 2018, and there are only a few proven chains around at the moment that can provide us with what we need at a reasonable price and Telos is spearheading the EVM race.”
VirtualStaX is open for users globally to register and explore the platform, its unique features and talented issuers. The platform is launching with 20 up-and-coming American Football players from across the United States. Issuers will be made available to the public in several phases, the next phase being the StaX Ambassadors including Drew Brees, Patrick Mahomes, Von Miller and Cam Jordan. Talented people including Influencers and Musicians will be able to create their own StaX to fund their dreams soon.
“The Telos blockchain is the perfect solution for an aggressively scaling business model like VirtualStaX that aims to have millions of people issue their own StaX and Billions of people own StaX in their favorite rising talent and superstars,” says Rudolf Markgraaff, CEO of VirtualStaX.
In 2023, VirtualStaX will introduce new features to the platform that will allow talented people and their fans to engage in new ways to make it easier for interactions and engagement. People from across the globe are expected to join the platform as more categories become available. For further information about the first global exchange for talent and to sign up on the StaX App, visit www.virtualstax.com. Visit www.telos.net to learn more about a fast, cost effective and green blockchain.
Author: Jesko Hoffmann
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