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Adding to the blockchain buzz, WazirX launches India's first digital NFT platform

India's biggest cryptocurrency exchange, WazirX is looking to tap into yet another hot digital market as it launched the country's very first trading platform for NFTs or Non-Fungible Tokens.

So, What is a NFT? Non-fungible tokens are unique digital tokens and as the name suggests can not be exchanged with anything else. The digital tokens are really certificates of ownership either to something physical or even virtual. These assets could be a piece of music, picture, meme, social media post, or even someone's identity.

It was made popular when Twitter Boss Jack Dorsey secured a $2.9 million bid for an NFT to his first ever tweet and the eccentric billionaire Musk also played his role in promoting the latest digital fad.

WazirX's platform, which will be used to trade NFTs will run on the Binance Smart Chain, a blockchain platform created by Binance, which acquired WazirX back in 2019. Backed by same system as cryptocurrencies such as Bitcoin, NFT records are maintained in a digital ledger with blockchain technology.

According to the company, the marketplace currently has 15 creators, and WazirX has received over 15,000 applications from creators and collectors already.

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