WazirX, the leading Indian crypto exchange, has intensified its conflict with Binance as it recently announced that it is shutting down its NFT marketplace – WazirX NFT. It is believed that the long-simmering power dispute between the two entities has led to a sudden yet unsurprising termination of the service.
A comment from Binance’s CEO caused an uproar in the crypto world and sparked a heated dispute between the two firms. Customers can now continue to trade their NFTs on OpenSea following the closure of WazirX NFT. This acrimonious episode serves as another reminder of the growing rift between these two giants in cryptocurrency, leaving observers wondering what will come next in this seemingly unyielding saga.
Breaking: WazirX NFT marketplace has been Closed. pic.twitter.com/004W1jjr8Z
— Crypto India (@CryptooIndia) February 22, 2023
How does this Suspension Affect the Users?
WazirX’s suspension of their Indian NFT marketplace is a dismal development that curtails the dreams of aspiring artists in the country looking to showcase their talent.
The Crypto Exchange had aimed to increase public cognizance of the advantages offered by Non-Fungible Tokens with its introduction; unfortunately, they have been unable to realize this ambition due to circumstances beyond their control. In addition, the closure of the market is also painful for the staff members who worked there because they lost their jobs following the shutdown.
Overall It’s terrible because many users have grown to rely on the platform for all their trading requirements. Moreover, clients were not given sufficient justification. Consequently, even if the current situation is undoubtedly undesirable, it is hoped that a resolution to the dispute can be found quickly so that individuals who depend on WazirX service can resume trading with confidence.
We are shocked to learn that the #WazirX NFT marketplace has been sunsetted without any prior information. The Indian #crypto community expected better communication from WazirX, especially when it comes to such significant changes.
— Keyur Rohit (@CryptoKingKeyur) February 22, 2023