- WazirX has launched India’s first marketplace for NFTs.
- Its native token WRX appreciated 250% in value following the launch.
- Indian creators can auction their art on the platform and receive royalty.
WazirX has launched India’s first marketplace for NFTs. The Binance-owned exchange recently made headlines for crossing the $200 million daily trading volume mark. This time the exchange is in the news for launching a platform for selling digital art.
Not just that, the launch has made its native token WRX appreciate 250% in value. The token’s price shot upward to $5.90 within 24 hours, reaching a high of $5.21 at the time of writing.
Out of a maximum supply of a billion, there are 248 million WRX tokens in circulation. Additionally, the currency holds a market cap of $1.2 billion. In fact, it has grown by 1,150% over the past week. Compared to its value at the beginning of this year, this is up by a tremendous 8,800%.
About The NFT Marketplace
As per the exchange, it will not charge its customers for creating and listing NFTs on the platform. The pioneering Indian marketplace is meant for artists, content creators, and collectors in India. Buyers and sellers will enjoy the platform’s ease of access. Indian creators can auction their art pieces on the platform and receive royalty thereafter.
WazirX founder Nischal Shetty tweeted earlier today, “This is our next step towards making Crypto accessible to everyone in India”.
The more useful products we build for Crypto in India, the better we showcase why #IndiaWantsCrypto
This is our next step towards making Crypto accessible to everyone in India.
Decentralised NFT marketplace by WazirX 🚀https://t.co/0YsWZjDZ8f
— Nischal (WazirX) ⚡️ (@NischalShetty) April 5, 2021
Currently, WazirX is working to bring down the high fees associated with creating and trading Ethereum-based tokens.
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