WazirX is one of biggest cryptocurrency exchanges and it thought it would be able to do the same magic in the NFT scene. But, today, they have made a shocking announcement on their official twitter account that they have decided to close due to low volume and traction. It is not surprising though since total volume over the past 30 days was meager $112.24 and their platform collected just $6 in fees.
WazirX NFT marketplace will remain online for next 20 days. While Indian community is extremely angry at their decision, it shall be noted that since there is nearly no volume, it was evident that it would have closed sooner or later. One person on twitter said,
“I was a verified collector on Wazirx and invested a lot, i will never invest a single penny on any product anywhere slightly related to present and ex founders of Wazirx.”
Most are annoyed that they did not make any announcement before closing down their marketplace. This caught all the buyers and creators by surprise and by the looks of it, they have abandoned the community of creators and collectors who invested money, time and effort.