Hello,
I've made and used beeswax food wraps for bread and other things for years.
Yes, they work great: keeps the moisture in the loaf, is reusable, and avoids plastic. All great.
Beeswax is naturally antimicrobial, but a quick word of warning: If you get mold on your bread, wash the inside of the bag with cold water and wipe it down, turn it inside out and let it dry, maybe in the sun. Even though the beeswax wrap doesn't hold mold well, it can live on the wax surface or on crumbs in the crevices. Try to keep crevices to a minimum and clean out the crumbs.
Ideally, two bags in rotation: one in use and one cleaned and turned inside out to dry.