How to sell nft in india

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how to sell nft in india

What are non-fungible tokens (NFTs)? How are NFTs different from cryptocurrencies? Can you buy and sell NFTs in India? Make your entry into the world of NFTs through this guide.

Jack Dorsey, CEO of Twitter, sold NFT of his first-ever tweet “Just Setting up my Twitter” for $2.9M. The popular Doge Meme invented a new crypto coin ‘Shiba Inu, a Japanese dog breed. The concept of NFTs surely sounds new, but ‘Coloured Coins’ was the first NFT in 2012. Cryptocurrencies – Bitcoin, Ethereum, Dogecoin – are fungible tokens, i.e. you can exchange or trade them, just like physical money, because 1 BTC is always equal to 1 BTC.

Also Read:Bitcoin, Ethereum, Dogecoin: Everything You Need To Know For Successful Trading In Cryptocurrency.

What is an NFT?

A Non-Fungible Token or NFT is a cryptographic token with a unique authenticity and individual character.

How to sell nft in india

While the Indian education system catches up with the times, it is safe to conclude that Indian crypto artists will rely on global NFT platforms for trading NFTs. Choosing so will also allow them to reach a global audience.

Read More: Popular Global NFTs Marketplaces

Final Words

NFTs poses a fantastic opportunity for the thousands of Indian artists, big or small auction houses, and even Indian OTT platforms to increase their economic potential. Until the laws and regulations for owning crypto assets are defined in a watertight manner, the market is open and full of possibilities.

However, the reality in which these assets are banned isn’t a far-off possibility considering that the nation is itself adopting digital financial management standards and can possibly release its own cryptocurrencies.

How to sell nfts in india for free

You can use wallets like Coinbase Wallet or MetaMask which also stores NFTs.

  • Gas money (Transaction fees) is required to validate any Ethereum purchase so factor in the gas money before making any purchase. You can visit this link to check current Gas prices.
  • Now, let’s come back to the best ways to buy NFTs in India, and the following are the top three marketplaces where you can invest in NFT!

    1. OpenSea

    OpenSea is an NFT marketplace that hosts various types Ethereum based NFTs that you can buy or bid on or you can even create your own NFT and mint it.

    How to sell nft in india quora

    Using the polygon platform, the Wall is slated to become a social commerce platform focusing on allowing creator interactions with viewers aside from offering NFT sales.

    Alike the first Indian NFT marketplace, it also aims to offer reduced gas fees for minting NFTs to encourage users to join the platform and contribute to it. The website currently boasts of impressive projects like brand drops, collectibles, NGO impact drops, and others featured to release soon after the platform officially launches in the upcoming September.

    OpenSea

    It is one of the largest global NFT trade platforms offering millions of NFTs from famous personalities and revered auction houses.

    How to sell nfts in india without gas fee

    You can go to the museum, look at it, even take a picture of it, frame it, and put it on your home wall. The original painting is not yours, and no one else can own it. Similarly, if you are an artist and you write songs, the songs you create are your Non-Fungible Token (NFT).

    What is the difference between fungible and non-fungible?

    Before we go ahead, let us try to understand the terms fungible and non-fungible.
    Non-fungible means one of a kind. In the world, the most fungible thing is the American dollar. 85% of all transactions are done in American dollars as it is fungible. Non-fungible is the opposite as there is one of them. You can have copies of it, but the original is only with one person.

    Many people think of Bitcoin as NFT, but it is not.

    How to make and sell nft in india


    It has a wide variety of growing and popular options that you can browse with a community that grows larger every day.

    They have a wide and different selection of NFTs to choose from like Art, Audio, Domain names, Trading Cards, and other different types of collectibles.

    To buy or trade NFTs on OpenSea, you will need an Ethereum wallet as mentioned previously like MetaMask or Coinbase wallet. Overall OpenSea is a great marketplace especially for buyers of popular or rare NFTs.

    2. Binance NFT

    Binance is a prominent cryptocurrency trading platform but it recently added an NFT marketplace.

    How to sell nft art in india

    How to create NFT in India?

    • 25 October 2021 | 2905 Views | By Abhinav Mishra

    NFT in India has now started to align with the global trend. Various Indian celebrities are in the News for a different reason recently. Stars like Amitabh Bachan, Salman Khan, Rishabh Pant, Manish Malhotra have recently launched their NFT, and it is all over social media.

    Also, an artist sold his digital art for $69 million as NFT. You must be tempted to know about NFT, are you?

    You must be wondering what these NFTs are, and can you create your NFTs? In this article, we will answer all your questions about NFTs.

    What is NFT?

    A Non-Fungible Token (NFT) in a layman’s language is something unique. It cannot be replaced by something else. Let us understand it with an example.
    You must have heard of the famous Mono Lisa painting.

    How to buy sell nft in india

  • Once done, you will see NFT in your collection.

  • Even though the listing is free, you need to pay a one-time gas fee in Ethereum. It could be between $200 and $300.
  • Here is an NFT we created as a part of the research for this article.

    At present, there are no laws in India that ban trading in NFT. You must also know, there is no separate legal framework for NFTs in India.

    There has been a debate on the classification of NFTs in India. Some experts believe it to be a contract, while some think of it as a derivative.

    How to create and sell nft in india

    Let’s then see how Indian users can participate in the trade of digital art via crypto NFTs.

    NFT Marketplaces for India

    NFT platforms like Rarible, OpenSea, Foundation, Nifty Gateway, etc., already exist on the internet that currently caters to hundreds of millions of crypto users and other audiences that use fiat money.

    Their success has encouraged many Indian startups to build similar or better NFT marketplaces that also facilitate crypto finance exchange so that Indians can convert the Indian Rupee(INR) to crypto bitcoins. All so Indians can buy and sell digital art on the fly. So let’s check out India’s top NFT platforms.

    Currently, only two Indian-based NFT Market Places exist.

    How can i sell nft in india

    One beneficial feature of this platform is that users can buy limited edition drops which are otherwise sold for higher costs through regular purchase methods.

    Naturally, the platform only offers Ethereum blockchain NFTs, but users can make purchases through Debit & Credit Cards, which essentially only use Fiat money. Additionally, creators can choose to make unlimited editions of their rare collectibles for a fixed time that can each sell for a fixed price. Such availability has allowed multiple popular artists to make millions of dollars within mere ten to fifteen minutes.

    This is one of the best among NFT Marketplaces in India that any beginner can try.

    Challenges for Indian NFT Market

    India is a vast country with dissimilar progressing areas where digital infrastructure is unequally distributed.

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