WazirX shuts NFT marketplace, says it did not gain much traction
WazirX NFT Marketplace's users can continue to hold NFTs in their wallets, and these can be sold in other marketplaces such as OpenSea, the firm said.
Indian cryptocurrency exchange , which launched its NFT marketplace in June 2021, has shut it down, it said on its website.
The WazirX NFT Marketplace—which was among India's first NFT marketplaces—did not gain much traction, as per a statement issued by the company.
"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," said the crypto exchange.
Vishakha Singh, who led the marketplace as its co-founder and VP, exited from the entity in September last year. She then went on to consult for the Web3 app Coto.
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WazirX NFT Marketplace's users can continue to hold their NFTs in their wallets, and these can be sold in other marketplaces such as OpenSea, the firm said.
"We created a safe and secure marketplace where creators could showcase and trade their unique digital assets. We have provided a platform for creators to showcase their talent, and our efforts have helped put the spotlight on many Indian creators. We thank all our users and partners for supporting us throughout our journey," it added.
Early 2023, the exchange released its financial earnings for FY22, posting an operating revenue of Rs 823 crore—a significant growth from Rs 112.5 crore generated in FY21.
The firm reported a profit of Rs 53.2 crore in FY22, an increase of 5.36X from Rs 8.36 crore in FY21.
Edited by Kanishk Singh