On February 22, Indian cryptocurrency exchange, WazirX announced that it will be stopping its NFT marketplace which was first released back in June 2021.
WazirX cited the suspension of the NFT marketplace due to a lack of traction amidst the global economic crisis and high taxes.
Meanwhile, WazirX on their website posted a statement reading, The WazirX NFT marketplace has been sunsetted. You can still trade your NFTs on OpenSea.
Additionally, WazirX in a statement said,
We regret to announce that the WazirX NFT Marketplace has been sunsetted. We are proud to have launched India’s first NFT Marketplace in June 2021, which showcased the work of many creators. Unfortunately, it did not gain much traction. We created a safe and secure marketplacee where creators could showcase and trade their unique digital assets. NFT’s are decentralized, and owners have complete contol over their assets, which is why they have became so poular. Our users can rest assured that they can continue to hold their NFTs in their wallets, and these can be sold in other marketplaces such as OpenSea.
The decision comes a few days after Binance sent WazirX an ultimatum to shift its assets from the Binance wallets by Feb 3, 2023.
In the meantime, you can check out our NFT Calendar to stay updated about upcoming NFT drops and events.