NFTs have been available for a few years, but 2021 saw massive growth in their popularity, and India has not been hesitant to adopt blockchain-powered non-fungible tokens as legitimate forms of payment.
The amount of trade in non-fungible tokens worldwide increased dramatically in 2021, and while India is not yet at the forefront of this trend, it is gaining pace by the day. The most recent comments in the Union Budget on regulating a cryptocurrency tax have almost exclusively encouraged crypto investors to acquire more.
So, here are some of the best NFT apps that you need to use right now!
WazirX is an Indian cryptocurrency exchange that was established in 2018, and it now has more than 7.3 million members. The cryptocurrency exchange platform Binance has completed the acquisition of the platform. They introduced the NFT marketplace, which is geared toward artists from regional and traditional communities.
It is common knowledge that the platform hosted its inaugural NFT show, and it has a reputation for being an excellent choice for newcomers. WazirX is one of the best NFT apps to use right now.
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2. Jupiter Meta
The news that India’s first completely curated innovative marketplace has been created was recently released by Jupiter Meta. Its primary goal is to provide original metaverse experiences via the mediums of music, movies, and video games. Their NFT ‘Icons of Singara Chennai’ city culture is represented via digital art, NFT of cuisine, monuments, and beaches.
It was established in 2021 with the purpose of trading NFT as well as the many other creative and cultural sectors that were created within its metaverse. The marketplace has predetermined pricing in addition to a bespoke shopping experience. The network is supported by the level-1 blockchain technology of the Rubix blockchain, and there are no gas costs.
This online marketplace has been referred to as the link between Bollywood and blockchain technology. An NFT marketplace called Bollycoin is devoted to the sale of collections that are influenced by Bollywood productions. The Dabangg collection, which was created in conjunction with Salman Khan, was only just made available on the marketplace.
In addition to that, the marketplace provides a selection of additional collectibles, like movie clips, posters, and stills from movies. Users can acquire NFTs with the cryptocurrency they have, and in return, they get royalties depending on their activities.
BuyUCoin is one of the major cryptocurrency exchanges in India. It was established in 2016, and since then it has served more than 350,000 customers and processed more than $300 million worth of transactions involving digital assets. The firm has said publicly that its goal is to get cryptocurrency in the hands of one billion Indian consumers.
Users are given the ability to purchase, sell, and trade a total of 33 cryptocurrencies, including Ethereum, Bitcoin, Ripple, Stellar, and a great number of others. Users are subject to a 0.24 percent creator fee while using the platform.
The platform also has a specialized NFT marketplace that has a user interface (UI) that is somewhat comparable to that of Opensea and that features some of the most well-known NFT projects that are up for grabs.
Rarible was declared public in the year 2020 and quickly rose to become the most successful NFT marketplace. It was feasible because they were provided with RARI, which was their native ERC-20 governance token.
They support the ERC721 standard in addition to the ERC1155 standard, which is used for the creation of several versions of the same item. Rarible is based on the Ethereum Blockchain, and the company has worked with many well-known companies and artists, like Adobe, amongst many others.
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When it introduced NFTs of the Bollywood superstar Amitabh Bachchan, this platform entered LimeLight and became available for use. According to the source, there were around 5,000 treasure boxes, and in only 53 minutes, all of them were purchased. On the website that was being used for the sale of those NFTs, there were around 6 million individuals present.
After one month, it eventually issued its second drop with Chakra The Invincible, which was a co-creation by Stan Lee. It was also a great success, as seen by the fact that all 6865 loot boxes were purchased within only 51 seconds, and 5000 jukeboxes were purchased in just 49 seconds.
The people’s reaction to the platform was quite positive, and it is possible to say that it was the first platform that brought India and NFT closer together. It is completely ready to provide the global community with an outstanding trading experience of the highest caliber.
Binance is using its large number of users to entice musicians, bands, and other producers to become a part of its recently created NFT marketplace. More than a thousand different producers have listed a total of nearly 2.5 million different NFTs since the marketplace’s inception in June, which was announced shortly after.
Binance gives artists an unrestricted environment in which to develop their creative potential. The trade volume on the site has exceeded 360 million dollars, and it has managed to sell an astounding one million mystery boxes.