Indian Crypto Exchange WazirX Shuts Down NFT Marketplace

Indian crypto exchange WazirX has shuttered its marketplace for nonfungible tokens, according to a notice on its website on Tuesday. “The WazirX NFT marketplace has been sunset,” the notice read. “You can still trade your NFTs on OpenSea.”

• The NFT marketplace was launched in June 2021.
• WazirX was India’s largest crypto exchange until last year when the country introduced a new tax on crypto transactions which led volumes to dry up on the platform and its rivals.
• The combination of a hostile tax regime and a downturn in crypto markets proved to be a double-whammy for India’s crypto exchanges. WazirX ...