WazirX shuts down NFT Marketplace without telling anyone

The WazirX NFT marketplace has been shut down without notice to its artists or customers.

The marketplace, a project that was once marketed as India’s best non-fungible token (NFT) marketplace, has ended its operations. Neither the team nor the founders made any public announcement or communication regarding the sunset of the platform.

It is worth noting that last tweet from WazirX NFT Marketplace was on October 14, 2022. The last Discord announcement was also on October 18, 2022.

The Indian exchange WazirX has been in a dispute with Binance over the ownership of the platform since last August. Earlier this month, Binance announced it was cutting ties with WazirX by ending its wallet services. Then the Indian exchange declared that it had prepared to take necessary steps to seek a complaint against “false and misleading” statements made by Binance.

Expected closure of artists

Yash Gawde, an NFT artist known as “Busibeast,” told BeInCrypto that the artist community expected the platform to shut down due to low volumes from the past few months. He is a 19-year-old verified NFT artist at WazirX, whose company “Elite NFT” was valued at over a million dollars last year.

According to Busibeast, volume on the WazirX NFT Marketplace dropped when the core team left. He says: “When the team that managed the whole platform left and started their new project, the community was left on its own. So people started leaving because they weren’t being heard.”

Busibeast believes the platform could have turned out to be an ATM if the team had handled it well. But he says the WazirX team “has a new toy to play with, so they abandoned this one.”

The beauty of Web3 is that the community is the pillar rather than a specific project. Busibeast concludes: “The platform is dead, but the communities we created are still alive.” He further mentions that he met his operations manager Manish Patole, through the WazirX NFT Marketplace.

Nischal Shetty, co-founder of WazirX, announced Shardeum, a Layer 1 blockchain, in February 2022. Since then, the community believes that Shardeum has been the main focus of Shetty.

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