![Wazir X Main Image.png](https://images.hive.blog/DQmeY1b1Ythh5KMXG4RJBKREJrE9RhsqcYWzSyHEEZqChp2/Wazir%20X%20Main%20Image.png)

Crypto Adoption in India is imminent even if the future of the Crypto space in the country is uncertain. We still do not know whether the Government will put a ban on trading & investing in Cryptocurrencies or not but many officials have clarified that they are open to exploring Blockchain Technology & its benefits. A few weeks Coinbase declared that they are [hiring Indian Talent for their operations](https://leofinance.io/@finguru/coinbase-enters-india-despite-proposed-ban-reports). More news like these are coming out amidst the proposed ban. 

**Two days ago, Binance owned, WazirX, the biggest crypto exchange in India, has launched [NFT Marketplace](https://nft.wazirx.com/) to serve Indian community of artists and creators.** 

> The NFT marketplace for Indian artists and creators from the country's most trusted Bitcoin and cryptocurrency exchange & trading platform - WazirX. We are inviting artists, creators, and buyers to come to narrate the new Indian story.
<sub>Source: https://nft.wazirx.com/</sub>

![Nischal.png](https://images.hive.blog/DQmYiZkMuB2dL9HRY3imxeAc8yFBMLHzJB2hghSfLSDBRTv/Nischal.png)
As of now, the market place is not open for everyone and there is a waitlist. You can fill out [this form](https://docs.google.com/forms/d/e/1FAIpQLSd5hKtqSQRxVXebO4eLKxvsDu_-lHJBMqx2gzGD4ZhwbQpyiw/viewform) to join the waitlist and wait for WazirX's next notification. If you are a creator or a buyer from India, this would a perfect place to transact for NFTs for crypto and vice versa. You can now buy & sell digital assets & intellectual properties, including art pieces, audio files, videos, programs & even tweets.

> "WazirX will not charge its customers for creating and listing NFTs on the platform. However, since NFT builds on blockchains that allow smart contracts, a gas fee is paid to the miners in respective currencies," an official release issued by the company said.

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### What Are NFTs?

**Non Fungible Tokens** are used to verify Digital Assets like art, virtual game accessories, or even real-world items like as collector's cards that have been transferred onto a blockchain network. They are unique and cannot be replaced with something else. For example, Bitcoin is a fungible asset while a Splinterland Card is non-fungible. Each NFT is associated with a different set of metadata.  Non-fungible tokens are not interchangeable. Through a blockchain-based NFT marketplace, you can buy or sell NFTs. 

NFTs are pretty hot right now. **A Digital Artist called Beeple (Mike Winkelmann) sold an NFT for $69 million on Christie's auction** to **Vignesh Sundaresan**, known as **MetaKovan**. He happens to be an Indian not that it matters a lot. But it attracted a lot of Indian investors & made some news in the country. 

<center>![image.png](https://images.hive.blog/DQmZxJPR4HAwMogd9yYgY7gSL3U2y9Bpo7BgD2PWbTyXukz/image.png)</center><center><sub>[EVERYDAYS: THE FIRST 5000 DAYS](https://onlineonly.christies.com/s/beeple-first-5000-days/beeple-b-1981-1/112924)</sub></center>

> In his first television interview, Vignesh Sundaresan, also known as MetaKovan, told CNBC’s “Squawk Box” that he has no regrets paying $69 million for what many say is simply a JPEG and a hyperlink. He said the rise of nonfungible tokens, or NFTs, herald a new era where technology has allowed artists and collectors around the world to buy and sell art more easily and democratically. 
<sub>Source: [CNBC](https://www.cnbc.com/2021/03/30/vignesh-sundaresan-known-as-metakovan-on-paying-69-million-for-beeple-nft.html#:~:text=Vignesh%20Sundaresan%2C%20known%20as%20MetaKovan,%2469%20million%20for%20Beeple%20NFT)</sub>

Recently, Jack Dorsey, CEO of Twitter sold his very first tweet on the platform and Elon Musk sold a song about NFTs through NFT. NFTs Market Cap Grew 1,785% in 2021 as the demand blew up. Top marketplaces like [Rarible](https://rarible.com/) and [Opensea](https://opensea.io/) saw a huge spike in their NFT sales recently. We are entering into a new era of Digital Art and NFTs are the major proof of it. 

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### NFT Market in India

Before WazirX's launch, there were no dedicated NFT marketplaces for Indians to buy & sell Digital Art. India is a hub of wonderful artists in multiple domains. Number of Digital Artists is growing at a rapid pace. Covid-19 has pushed art online and so far only traditional media websites (like Facebook & Instagram) are providing a stage to these artists. Most of them earn nothing and face copyright infringement issues as well. NFTs can solve that problem for a variety of people who are tapping into this space. 

![NFTS India.png](https://images.hive.blog/DQmW7RwraYs5iiLXQ2wqE6QZ9ScqJ2pB4BxiwJYm83Vvh16/NFTS%20India.png)

With WazirX's NFT marketplace, Indian creators can place their digital assets for auction over the blockchain-based NFT marketplace and earn royalty thereafter. WazirX is also under discussion with many artists for listing. India is a place filled with raw talent and NFTs can help fulfill their dreams. It also serves as a means to impending Crypto Adoption in the country. I am excited!

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<center>https://images.hive.blog/DQmXx37Qj1Q82V8nMzy5NYUABNNUff3d6iAQacXi34sz8AP/image.png</center><center><sub>No financial advice. For infotainment purposes only.</sub></center>


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