Waves Launched a Non-Profit Association Under German Law

Last year, Waves announced the development of a new generation of its technology, including the Gravity Hub interoperability protocol, which unites third-party blockchain protocols like Waves and Ethereum.

On Dec. 2, Waves launched its own exchange using its own blockchain protocol. Earlier in September, Waves transitioned to a self-regulating monetary system, allowing the community to determine the block generation reward size and coin supply.

According to a Feb. 3 press release, open source blockchain platform Waves established a non-profit organization called Waves Association in Frankfurt, Germany to provide effective governance for its own ecosystem, Web3, and to foster the development of DLTs, including public and private blockchain protocols.

Uniting six countries

The Waves Association will be represented by ten community members from six different countries: Portugal, Spain, Switzerland, Germany, the Netherlands, and Russia. Waves founder Alexander Ivanov, who is also a member of the association, calls the launch of the Waves Association an important step for the company’s ecosystem:

Through the Association, we will be able to increase the numbers of developers and users, and also plan to attract crypto enthusiasts, who develop other blockchain technologies and solutions.

Goals of the non-profit

According to the press release, the Waves Association will actively collaborate with universities, research centers, as well as companies and governments in Europe and around the world. The association will furthermore develop DAO-like tools and blockchain-based solutions for decision-making and member engagement, including voting and decentralized management.

The Waves Association also intends to support the Waves protocol and infrastructure, which includes a decentralized network, technologies, and various development tools, with a focus on the Gravity Hub, a blockchain-agnostic protocol that solves interoperability issues.

Under German tax code

The Waves Association is registered as a non-profit organization under the German tax law. Its legal advice is provided by the Frankfurt law firm Winheller, one of the leading players in non-profit, tax, and cryptocurrency law. Winheller was led by German attorney Johannes Fein, who was also responsible for the founding of the association.

Waves Platform and The Abyss to Jointly Launch Blockchain-Based Games Marketplace

Open source blockchain platform Waves and blockchain game distribution platform The Abyss will jointly launch a blockchain-based marketplace of digital goods and in-game items.

In a blog post published on Sept. 5, The Abyss revealed its collaboration with the Waves Platform, aimed at the development of a blockchain-powered marketplace of tradable goods and in-game items. The marketplace will enable users to purchase items with Abyss Tokens and sell them to other users.

Waves blockchain-integrated tokens

The integration of Abyss Tokens with Waves blockchain will allow game developers to incorporate Abyss Token operations directly into their Waves-based games. Commenting on the development, Sasha Ivanov, founder and CEO of Waves Platform, said:

“We recognize the huge potential of the $100+ billion gaming sector as a major use case for blockchain which perfectly fits with current gameplay mechanics and trading of goods. We strongly believe that the gaming industry will be an enthusiastic adopter of blockchain, and partnership with The Abyss will drive its widespread use.”

Earlier collaborations

This spring, The Abyss announced a partnership with Epic Games to allow developers on the platform access to the Unreal Developers Network. At the time, a The Abyss spokesperson commented on the partnership in an email sent to Cointelegraph:

“The program is aimed at attracting more gaming studios and titles to The Abyss platform, as well as supporting Unreal Engine developers in cryptocurrency adoption. More specifically, they will be able to accept ABYSS tokens both for game and in-game purchases in legal and easy-to-use way.”

In late June, Waves introduced an upgrade to its blockchain that enables decentralized applications on the platform, which will purportedly enable developers to perform calculations  necessary for use cases on the Waves blockchain.

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