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WazirX NFT Marketplace has announced renowned Indian artists Priya Malik, Vinay Kaushal, DJ Shaan, Nehha Rajpal, and Abhishek Bhaskar, among others, will launch non-fungible digital tokens (NFTs) on its platform as a tribute to 75 years of India’s Independence.

The creations by these top artists will be bound by a common theme of challenging the norms, staying fearless, and breaking free, the marketplace announced, adding that a total of 2071 NFTs have been minted so far on its platform, out of which 752 NFTs worth 109,512.56 WRX have been sold.  

Talking about the new offerings in the market and identifying this massive trend, Vishakha Singh, Vice President, WazirX NFT Marketplace, said:

“The passion economy has presented a new way for artists to capitalise on creativity and engage with a wider community. WazirX NFT marketplace has been on a mission to create more opportunities for our South Asian native artists who inspire their community every day through their creations. No matter what the form, art, and tech has been uniting people for centuries.”

He added, “NFTs is that business solution for the passion economy. For the month of August, we are excited to have onboard some of the most sought-after artists who will be dropping NFTs based on their personal interpretation of unity and freedom.”

Vishaka and the WazirX team believe that since the crypto market gathered momentum in India, NFTs have been gaining traction amongst the millennials and Gen Z, and that NFT marketplaces are a great platform for artists to monetise their work.

The marketplace added in its statement that because the sales of the NFT majorly depend on virality, Indian creators are gaining popularity in the international NFT market as well.

“Minting NFTs not only puts the power back in the hands of the artists but these are also considered a tool for artists and creators to engage with their audience and unite them with the power of art,” it said.

Earlier in the week, WazirX said it has recorded 2,648 percent growth in user sign-ups from Tier-II and -III cities of India.

Based on a report generated by payments gateway firm Razorpay, WazirX said Tier-II and -III cities have driven almost 55 percent of the total user sign-ups on its platform in 2021, thereby overtaking Tier-I cities that demonstrated a sign-up growth of 2,375 percent.