Crypto exchange WazirX has shuttered its marketplace for nonfungible tokens, as per a notice on its website. The NFT marketplace was launched in June 2021.
“The WazirX NFT marketplace has been sunset,” the notice read. “You can still trade your NFTs on OpenSea.”
Until last year, WazirX was India’s largest crypto exchange when the country introduced a new tax on crypto transactions which led volumes to dry up on the platform. Also, the combination of a hostile tax regime and a downturn in crypto markets led to the downfall of the crypto exchange.
WazirX has been embroiled in a dispute with Binance over the ownership of the exchange. Back in 2019, Binance announced the acquisition but later clarified that the deal was limited to an agreement to buy certain assets.
Earlier this month Binance cut off the operations services it was providing to the crypto exchange platform.
-With inputs from Bloomberg
First Published: Feb 22, 2023 3:22 PM IST
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