India’s most trusted and leading cryptocurrency and Bitcoin exchange company, WazirX has recently made it to the news headlines following its novel launch of Non-Fungible Tokens (NFT) marketplace for the Indian creators. The launch is expected to enable all the Indian artists to place their digital assets for auction over the blockchain-based NFT and earn royalty thereafter.
It has been claimed that the development of NFT marketplace would potentially pave way for a seamless exchange of digital assets and intellectual properties such as audio files, art pieces, programs, videos, and even tweets.
In fact, the company would not charge a single penny from its customers for creating and listing NFTs on the platform. However, the catch is that a gas fee is required to be paid to the miners in respective currencies to enable smart contracts.
Commenting on the latest launch, Founder of WazirX, Nischal Shetty mentioned that the company is thrilled to have unveiled one of India’s NFT marketplaces for the country’s creators. The latest addition to the WazirX portfolio builds along the lines of its aim of being an epicenter of innovation and empowering customers with value-added offerings and services.
Mr. Shetty added that the inclusion of NFT marketplace would truly revolutionize the market in its rapidly digitizing world with a rising interest in NFT globally. Additionally, the firm is currently working around certain nitty-gritties to make NFT marketplaces more profitable for its clients.
It has been speculated that WazirX’s NFT initiative is being led by a Canadian entrepreneur, Sandesh B Suvarna along with film producer and actor Vishakha Singh as an advisor. Apparently, both the leaders boast of a history of working on SaaS products in the celebrity fan engagement sphere.
As per a market report, the NFT industry witnessed a spike of 299% in 2020 as it clocked in more than USD 250 million as the overall value of transactions.
Source Credit: https://economictimes.indiatimes.com/tech/technology/crypto-exchange-wazirx-launches-a-nft-marketplace-for-indian-artists/articleshow/81907370.cms