WazirX, the most trusted cryptocurrency exchange of India today launches its own decentralized NFT marketplace. Yes, you read it right, WazirX team is doing its best to bring new features for the users.
Siddharth Menon, the CoFounder at WazirX today announces that WazirX will launch its own NFT marketplace.
He announces this news via a tweet, “WazirX will now support Indian artists by launching #NFT marketplace. We want to bring the future of internet to India. India has always been known for art & culture and we hope to spread this to the new virtual world.”
Indian creators can place their digital assets for auction over the blockchain-based NFT marketplace and earn royalty thereafter.
Nischal Shetty, CEO of WazirX says, “Globally, the market is nascent at $10-15 million per week, but the potential is huge. As of now, it is difficult to estimate the market size in India. We’re in discussions with some artists for listing.”
“Basically, the artist has to first create the music or video file and upload it to a crypto wallet. The money then gets locked into a smart contract which only transfers the NFT when payment is received.”
WazirX the most trusted cryptocurrency exchange of India today crosses $1 Billion in market capitalization. WRX also hits its new ATH of $5.87 as per CoinMarketCap.
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