Binance-owned cryptocurrency exchange WazirX has created a platform for Indian artists to sell non-fungible tokens (NFTs).
The platform enables turning artworks, audio and video files, software, and even tweets into digital assets.
Creating and listing NFTs on the platform is free. But users will have to pay fees for creating smart contracts. In the future, WazirX plans to bring this fee down to zero.
“We still need to work out a few details on the platform to make NFTs more profitable for our customers,” said WazirX CEO Nischal Shetty.
Earlier, Indian authorities demanded crypto-related companies to disclose their assets. Amendments to the law have come into force.
Authorities are consideringthe possibility of blocking IP addresses of cryptocurrency exchanges and related digital-asset companies.
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