Indian crypto currency exchange launches NFT marketplace for Indian artists

Indian crypto currency exchange launches NFT marketplace for Indian artists.   | Photo Credit: Reuters

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Indian cryptocurrency exchange, WazirX has launched a non-fungible tokens (NFT) marketplace for Indian artists and creators.

Indian artists can place their digital assets including art pieces, audio files, videos, and even tweets, for auction over the blockchain-based NFT marketplace to earn royalty thereafter.

The company claims this to be India’s first NFT marketplace, and said it will not charge its customers for creating and listing NFTs on the platform. It added that it is working to eliminate the fees paid to miners in respective currencies to verify transactions.

“It will truly transform the market in our rapidly digitising world with a growing interest in NFT across the globe,” Nischal Shetty, founder of WazirXsaid in a statement .

“Both digital creators and collectors stand to benefit from the WazirX NFT marketplace. As of now, we are working around certain nitty-gritty to make NFTs more lucrative for our customers.”

A non-fungible token or NFT is unique digital asset that is not interchangeable. In the past few months, NFTs have garnered significant attention from around the world. Recently, Twitter’s Jack Dorsey sold his first tweet for $2.9 million in an NFT-based transaction.

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Printable version | Apr 17, 2021 3:54:44 PM |

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