WazirX: Bitcoin & Cryptocurrency Exchange in India
Buy your first #cryptocurrency in 5 mins
Instant INR deposits & withdrawals
Available on Web, Android & iOS
Refer & earn 50% commission
WazirX is India's Most Trusted Bitcoin & Cryptocurrency Exchange. Buy, Sell & Trade Bitcoin, Ethereum, Ripple, Litecoin and more cryptocurrencies in India.
WazirX has launched one of India’s first marketplaces for Non-Fungible Tokens (NFT). The development has paved the way for seamless exchange of digital assets and intellectual properties including art pieces, audio files, videos, programs, and even tweets apart from other digital goods and services.
Following the launch, Indian creators can now place their digital assets for auction over the blockchain-based NFT marketplace and earn royalty thereafter.
WazirX will not charge its customers for creating and listing NFTs on the platform, the company said in a statement. However, since NFT builds on blockchains that allow smart contracts, a gas fee is paid to the miners in respective currencies. This cost is against the computer power used to verify the transactions. WazirX is currently working towards nullifying this cost to make NFT minting cost-effective for artists and creators.
For the uninitiated, NFT is a one-of-its-kind asset that is non-fungible in nature. It means that NFT is not replaceable by another ‘identical’ item. Its copies cannot be created following the purchase, thereby making it a unique asset for buyers. NFT are the next logical step for everyone from collectors to businesses who are interested in inimitable, intellectual properties. Recently, Twitter founder Jack Dorsey sold his first tweet for $2.9 million in an NFT-based transaction. The same holds for artists, distributors, and other stakeholders who wish to drive digital sales while keeping their copyrights intact.
