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WazirX launches NFT marketplace for Indian artists and creators


It is one of the first marketplaces for NFTs in India.
A NFT is a digital asset and it can be in the form of a picture, audio, video or even a tweet.Indian crypto exchange WazirX has announced the launch of a non-fungible token (NFT) marketplace for Indian artists and creators. The company has said that it is one of the first marketplaces for NFTs in India.
The NFT marketplace from WazirX is being spearheaded by Sandesh B Suvarna, a Canada-based entrepreneur. Film actor Vishakha Singh has also joined the firm as an advisor.
Speaking about the launch of its NFT marketplace, Nischal Shetty, founder of WazirX, said, “Both digital creators and collectors stand to benefit from the ....

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WazirX launches NFT marketplace for Indian artists - The Hindu BusinessLine


WazirX launches NFT marketplace for Indian artists
April 05, 2021
Non-Fungible Tokens means - copies cannot be created following the purchase.
Binance-owned cryptocurrency exchange WazirX has launched a marketplace for Non-Fungible Tokens (NFT), a move that will enable Indian creators to auction their digital assets over the Blockchain-based platform and earn royalty.
WazirX claims this is the first marketplace for NFT in the country.
This marketplace enables the exchange of digital assets and intellectual properties such as art pieces, audio files, videos and even tweets apart from other digital goods and services, the company said in a statement.
Nischal Shetty, Founder, WazirX, said: “Since our inception, we have been on the forefront of innovation and empowered our customers with value-added offerings. The latest addition to the WazirX portfolio builds along the same lines. It will truly transform the market in our rapidly digitising world with a g ....

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NFT Marketplace: Crypto exchange WazirX launches a NFT marketplace for Indian artists


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WazirX will not charge its customers for creating and listing NFTs on the platform, the company said in a statement. However, since NFT builds on blockchains that allow smart contracts, a gas fee is paid to the miners in respective currencies. This cost is against the computer power used to verify the transactions. WazirX is currently working towards nullifying this cost to make NFT minting cost-effective for artists and creators.
For the uninitiated, NFT is a one-of-its-kind asset that is non-fungible in nature. It means that NFT is not replaceable by another ‘identical’ item. Its copies cannot be created following the purchase, thereby making it a unique asset for buyers. NFT are the next logical step for everyone from collectors to businesses who are interested in inimitable, intellectual properties. Recently, Twitter founder Jack Dorsey sold his first tweet for $2.9 million in an NFT-based transaction. The same holds ....

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Indian creators needn't panic about new YouTube tax rules


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“Under US tax law, Google is required to deduct taxes (called withholding) from your YouTube earnings from US viewers, if applicable,” the statement elaborated.
The tax rates will be between 0%-30% on earnings creators generate from viewers in the US and the withholding of these earnings may begin as early as June.
The tax withholding requirements can differ depending on the creator’s country of residence, and on aspects like whether they are eligible to claim tax treaty benefits, or whether they identify as an individual or a business.
Indian creators, thanks to the Double Tax Avoidance Agreement or DTAA between India and the US, will have to pay around 15% of their YouTube ad revenue coming from their US viewers. ....

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