WazirX NFT Marketplace Has Been Shut Down, Why?

Indian cryptocurrency exchange WazirX has shut down its NFT marketplace. The website states that the “marketplace has been sunseted.” However, users can still trade their NFTs on OpenSea, according to the website. By clicking the OpenSea link provided on the website, users can buy or sell the NFTs they purchased on WazirX. WazirX’s profile on OpenSea currently has 52,253 products for sale.

Source: WazirX

WazirX has not released a statement regarding the matter. Watcher Guru has reached out to WazirX for a comment but has not received a reply at press time.

After WazirX NFT marketplace, will the exchange be next?

Users are tensed about the development, and many are worried that the exchange could be next to shut down. However, there is no confirmation regarding the matter. It is possible that the NFT marketplace is facing some technical issues and will be back online soon.

WazirX previously had a feud over whether Binance, the world’s largest exchange, owned the platform. The Indian exchange was thought to have been purchased by the crypto giant in 2019. Changpeng Zhao (CZ), the CEO of Binance, claimed that the deal was never finalized.

In a recent blog, the CZ-led platform urged Zanmai Labs, the company in charge of the well-known Indian cryptocurrency exchange, to withdraw assets that were now kept in Binance wallets. Binance’s move followed fear among users regarding their funds.

Nonetheless, the Binance debacle and the shutting down of the NFT marketplace have stirred fresh fears among investors. What the issue regarding the marketplace is and how the exchange plans to move forward are yet to be seen.

  • nft
  • WazirX

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