According to recent reports, WazirX from India has made a huge announcement for non-fungible token enthusiasts. WazirX, which is the largest cryptocurrency exchange from India has announced the launch of a marketplace for non-fungible tokens (NFTs).
It has been reported by Economic Time from India that the NFT marketplace will target sectors such as intellectual property, assets, digital art, music, and many more.
Analysts are stating that WazirX made the decision of launching its own NFT marketplace after experiencing a surge in its native token. The exchange reportedly has a native token called “WRX” that the users can use to utilize services on the platform.
Just recently, WazirX had reported that the user-base volume on the exchange had experienced a significant rise. The new investors joining the platform have reportedly rallied on the exchange’s native token, surging its price by 2,000%.
The firm revealed that at the beginning of March, the price of its token was at $0.27, which is now at $5.66 per WRX token.
The exchange has reported that similar to the rest of the cryptocurrency exchanges from around the world, WRX has also experienced the same trend. In the last 6 months, the user volume on the exchange has been constantly rising.
The exchange has reported that in a matter of six months, the user traffic on the exchange has surged by 631%. The exchange has also mentioned and made this information available on its website for public viewing.
Nischal Shetty, the founder of WazirX stated that he and the entire WazirX team are delighted about the launch of the NFT marketplace. He stated that in India, this is for the first time that a non-fungible token (NFT) marketplace has been launched by a crypto-firm.
They are glad that WazirX has always managed to live up to its reputation and its title for being the largest cryptocurrency exchange in India.
Shetty stated that ever since the exchange has been founded, it has dedicated an enormous amount of resources to introduce innovation and bring new ideas to the table.
Even though WazirX was not the first cryptocurrency exchange launched in India, yet it has become the largest and the top in the country. They have earned this title for providing their users with the most reliable, unique, and benefitting products over the course of time.
WazirX has revealed that its platform will allow users to create and list their NFTs on the platform for free. The development teams at WazirX are already working to introduce a system that will ensure that the bedrock gas fees are negated.
This will enable users in minting the non-fungible tokens (NFTs) through different blockchains without incurring any fees.