In this article, we are going to know about the WazirX NFT Marketplace. WazirX NFT marketplace is used to buy and sell the NFT. It is built on Binance smart chain blockchain and it does not involve gas fees in the transaction also it is faster as compared to Ethereum-based blockchain. As we all know WazirX is India’s largest decentralized cryptocurrency exchange. 

WazirX NFT marketplace has a multi-chain transfer feature which means it allows users to transfer their NFT from one blockchain to another blockchain. If we talk about the User experience on WazirX NFT Marketplace then it is user-friendly and users can mint new collections very easily, organize them, and put them for auction in an easy manner, these all are the features that users will get on WazirX NFT Marketplace.

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How To Buy NFT On the WazirX marketplace?

It is one of the best NFT marketplaces in India, where users will get a lot of features in this Marketplace.

Here are a few steps you need to follow to buy NFT on WazirX Marketplace.

• Create an account on the WazirX NFT marketplace.
• Complete your KYC after the creation of your account.
• Add some Binance coins and an adequate amount of WazirX tokens to your metamask wallet.
• Go to the discover features on the WazirX NFT marketplace.
• In the discovery feature, you will find lots of NFTs.
• Choose NFT according to your requirement.
• As you select your NFT there is a buy button when you click on the by button then your metamask wallet will pop up for the payment of that selected NFT.
• Now confirm the payment and you will be the owner of that selected NFT.

How to find a good NFT?

Finding a good NFT is not an easy task, it is more like buying something for real life. Here are some easy ways through which you can find a good NFT. 

• Artist social status: Whenever you are looking to buy any NFT it is important to know who is behind that particular NFT, that you are showing your interest in buying.
• A strong community:  Having an active community is one of the best ways to find a good NFT. Because a strong and healthy community builds a brand by creating hype on social media. Whenever you find any high on social media, people are more likely to support it. 
• Experience having past project failures and accomplishments.: Whenever you are looking for a good NFT, make sure that the creator of that particular NFT had some previous success or failure. This means the creator or artist has tried something big depending on their past NFT project. With the previous experience of the creator, you make up your mind to buy or not to buy.

WazirX NFT gas fee:

WazirX NFT marketplace does not involve any gas face while the transaction of NFT this market please only cost the price of NFT and the 5% Commission for the miner who validates the transaction on the blockchain.

How to mint an NFT on the WazirX marketplace?

Whenever any NFT art is sold the artist sells only the original art, not the copyright of that particular art. The collector has the original art and the artist has the copyright of that art. There is one more benefit that artists are getting is royalties every time, whenever that NFT art resold in the market.

To mint and NFT on the WazirX Marketplace, here are a few steps you need to follow:

• Go to the WazirX NFT Marketplace website.
• Connect your Metamask wallet to the marketplace.
• After that add the Binance smart chain network to the Metamask wallet.
• As you click on the add button the wallet will switch from Ethereum to the Binance network.
• As the network switches to Binance you will find a pop-up on the screen that will allow you to register yourself on the marketplace.
• By providing a username, display name, and email address now you can customize your profile on the WazirX NFT marketplace.
• Now you have your profile on NFT Marketplace and you can start minting your NFT.
• To mint, NFT click on your profile where you will get an option to “become a creator” click on it.
• As you click on “become a creator” you have to fill out an application form to become a creator.
• After submitting that application the site will review your application and respond to you within 3 to 4 weeks.
• As your account gets approved for “become a creator” now you will be able to see an option to create an NFT on your profile.
• When you click on create an NFT you will redirect to the NFT creation page where you can upload your NFT (which is in the form of images videos or MP4)
• As you upload your NFT make sure to enter the title and description of your NFT.
• Also, set the price and royalty percentage. Whenever your NFT gets sold, the platform will charge you a 5% service fee.
• As you set the royalty, the initial price of that particular NFT now you will see an option to escrew the NFT. Complete this escrew process because it is necessary. 
• And this way you have minted the first NFT on the platform.

Conclusion:

WazirX marketplace is one of the best in India. It is built on Binance smart-chain blockchain and it is better than the Ethereum-based blockchain Marketplace. It offers a multichain transfer feature which means it allows users to transfer their NFT from one blockchain to another blockchain without any difficulty.

WazirX marketplaces are user-friendly, where users can easily mint their NFT and put them on auction in an easy manner.

Frequently Asked Questions:

Which is the best NFT marketplace in India?

There are lots of NFT marketplaces in India but here are some best NFT marketplaces where you can buy your first NFT.

• OpenSea
• WazirX
• Binance
• Rarible

These are some of the best NFT marketplaces in India.

Is buying NFT illegal in India?

As of now, there is no such law that confirms that NFT is illegal in India. In 2022 finance minister Nirmala Sitharaman introduced section 115 BBH in this section if any person is making money by making any transactions of virtual digital assets like NFT and cryptocurrency the person has to pay tax at the rate of 30%.

Can I buy NFT on WazirX?

Yes, anyone can buy NFT on the WazirX marketplace by connecting their account with Metamask wallet.

Do NFT owners make money?

Yes, NFT creators can make money by just creating and selling unique and rare art such as images, memes, or any videos on NFT Marketplace.