WazirX NFT marketplace, previously touted as India’s top non-fungible token marketplace, has ceased its operations. The company closed without giving the users or artists prior notice.

Notably, neither the team nor the founders issued any official statement or message concerning the platform’s shutdown. Per the information on the website, the marketplace has been discontinued.

WazirX NFT Marketplace Closed 

According to the website, users can continue to sell or purchase the NFTs they acquired on WazirX by accessing the OpenSea link provided on the website. Moreover, WazirX’s OpenSea profile shows that there are currently 52,253 items available for purchase.

Notably, the WazirX NFT Marketplace’s most recent tweet dates back to October 14th, 2022. Also, the company made its last Discord announcement on October 18th, 2022.

Earlier this month, Binance revealed that it would sever ties with WazirX by discontinuing its wallet services. In response, WazirX announced that it was ready to take appropriate action to seek compensation against “inaccurate and misleading” remarks made by Binance.

In an interview, Yash Gawde, an NFT artist recognized as “Busibeast,” mentioned that the artist community had anticipated the platform’s closure due to reduced volumes over the previous months.

Nischal Shetty Allegedly Focusing On Shardeum

Busibeast, a verified NFT designer on WazirX, owns “Elite NFT,” a firm valued at more than one million dollars in 2021. Busibeast reports that the volume on the WazirX NFT Marketplace decreased when the core team departed. He said:

“As the team responsible for the platform’s management left to commence a new project, the community was left on its own. As a result, people began departing since no one listened to them.”

Meanwhile, Busibeast asserted that the platform could have become a lucrative cash-generating machine if the team had managed it appropriately. However, he mentions that the WazirX team “discovered a new toy and consequently abandoned this one.”

The advantage of Web3 is that the community serves as the backbone instead of any specific project. Despite the platform’s demise, Busibeast affirms that the communities established remain active.

Additionally, he notes that he met Manish Patole, his Chief Operating Officer, through the WazirX NFT Market. In February 2022, Nischal Shetty, one of the co-founders of WazirX, announced Shardeum, a Layer 1 blockchain.

Consequently, the community believes that Shardeum is Shetty’s new focus.