Indian government still pivoting their stance on banning Crypto or Regulating them. The tussle is getting strong everyday, meanwhile, Indian leading cryptocurrency exchange WazirX comes up with a interesting and surprising announcement.
WazirX have launched India's own and first marketplace for Non Fungile Token (NFT).
On this important development and affirmative step ahead towards Crypto adaption in India, Nischal Shetty founder WaxirX commented:
"It will truly transform the market in our rapidly digitising world with a growing interest in NFT across the globe."
According to a different crupto and NFT report,
The NFT market grew by 299% in 2020 as it clocked more than $250 million as the total value of transactions.
Looking at the ongoing strong momentum, NFTs are expected to grow even more robustly in 2021.
The craze for NFT is getting very popular day by day, with many well known people likes of Elon musk, Jack Dorsey and others selling their piece of digital arts, tweets, audio files etc on different NFT platform and raking mullahs.
Having a strong Indian Crypto user base and now owning NFT marketplace WazirX will allow the artist to get the value of their work. It will allow seamless exchange of digital assets and intellectual properties over Blockchain Technology.
As per further announcement, WazirX will not levy any charge on its customers for creating and listing NFTs on the platform. However, adhereing to blockchains principle that allow smart contracts, a gas fee is to be paid to the miners in respective currencies. Moreover the leading Crypto exchanges is also working towards nullifying this cost to make NFT minting cost-effective for artists and creators.
Considering all the positive scenarios and development. I must admit that craze for crypto and NFT would get a high wave in India, forcing the government to look into the brighter side of it.