From Ritviz and Nucleya to Sunburn, WazirX NFT sells 1200 digital collectibles in 100 days

NFT (Representative image: Shutterstock)

Digital collectibles are gaining traction in India with NFT marketplaces selling collectibles across gaming, sports, music and visual arts.

One such NFT marketplace, WazirX NFT which had launched in June this year, has sold over 1,200 digital collectibles so far.

Currently in the beta phase, a total of 3,208 NFTs have been minted on the platform, of which 1,068 were sold via fixed price model and 204 via auction model.

For the platform, the auction model has turned out to be a gamechanger. And for this model, the platform had rolled out Ritviz and Nucleya NFTs.

In an earlier interview to Moneycontrol, Vishakha Singh, VP of WazirX NFT Marketplace had said that Ritviz and Nucleya NFTs generated revenue of Rs 5.5 lakh through the sale of their 10 NFT drops, which were completely sold out.

Banking on the blockchain-based auctions which according to the platform are a worldwide, WazirX NFT is entering into its secondary phase.

In the secondary phase, the marketplace will commemorate the first 1,000 sold NFTs on the platform and the creators will earn a badge against their profiles.

The platform which has 323 creators is hosting digital collectibles from some of the artists including Prasad Bhat, Satish Acharya, Priya Malik, Ishita Banerjee, Vimal Chandran, Abhishek Bhaskar, among others.

Players in the NFT space point out that there are 15-20 million dealing with cryptocurrency in India who don't have avenues to spend it. So, for them one way is NFTs.

In India, NFT marketplaces are experimenting mostly with sports and movie digital collectibles.

In fact, Amitabh Bachchan has become the first Indian actor to roll out NFTs.

BeyondLife.club, a venture between Rhiti Entertainment and GuardianLink.io will be offering Bollywood actor Bachchan's NFT collectibles.

Other players in the NFT space include Rario that is offering NFTs from the field of cricket, Fantico and Diginoor.io are offering cinema-related NFTs.