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Rise of NFT in India?

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Many superstars have joined the NFT metaverse, including Amitabh Bachhan, Salman Khan, Yuvraj Singh, Salim-Suleman, Rohit Sharma, and Smriti Mandhana. According to crypto-data research tool DappRadar, the worldwide NFT business produced approximately $23 billion in trade volume in 2021. For a variety of reasons, Indian artists have been drawn to the NFT platforms. Sandesh Suvarna, VP, WazirX NFT art marketplace , told BrandWagon Online, They want to keep the legitimacy and cost intact. Furthermore, circumstances such as pandemic-related mobility limits, social isolation, and work-from-home opportunities drove art enthusiasts to find new ways to fuel their enthusiasm, which the emergence of NFTs enabled. "Since its introduction in June this year, the NFT marketplace website has sold a total of 5769 NFTs," Suvarna reported. Another NFT marketplace with a presence in India, GuardianLink.io, claims to have brought more than 50 artists and businesses into the NFT ecosystem. NFT ...
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Is NFT legal in India?

Non-Fungible Tokens ("NFTs") are the newest craze in the Indian NFT marketplace today . They're effectively a certificate of ownership for crypto assets, and they use the same blockchain technology as cryptocurrencies. Furthermore, trading in NFTs is now only available through cryptocurrencies. The similarities between cryptocurrencies and NFTs, however, end there. Cryptocurrencies are interchangeable or "fungible," however each NFT is one-of-a-kind and so cannot be traded like a cryptocurrency, thus the name "non-fungible." NFTs can also represent tangible assets, allowing for physical asset exchange on a Crypto NFT marketplace . NFTs may represent a wide variety of objects, including artwork, GIFs, trading cards, and even virtual real estate. Despite the fact that the essential feature of digital production is a limitless supply, NFT allows for the ownership of specific Digital art NFT . The underlying idea is to limit the endless supply of digital...
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