VazirX has terminated its NFT platform due to low volume returns.
The fact that WazirX closed the NFT platform without notice was a situation that many users did not like. Users reacted to this situation on Twitter.
WazirX Reacts After Shutting Down Its NFT Platform
Indian crypto exchange WazirX has abruptly terminated its NFT marketplace operations. Users show their reactions to WazirX on Twitter. When users try to enter the NFT platform, they encounter the following message:
“WazirX NFT market is deprecated. You can still trade your NFTs on OpenSea.”
Wazir said on its website that although it creates a “safe and secure” marketplace, the business “hasn’t received much attention.” A report by Inc42 said that WazirX NFTs have 52,253 items for sale on OpenSea.
WazirX’s statement continued:
“NFTs are decentralized and their owners have full control over their assets, which is why they have become so popular. Our users can rest assured that they can keep their NFTs in their wallets and that they can be sold on other marketplaces like OpenSea.”
Users described this situation as “rug pull” because the company did not give any advance notice to users. The CEO of the company denied this in a post on Twitter.
Rugpull? NFTs have always been under self custody of those participating.
— Nischal (Shardeum) ⚡️ (@NischalShetty) February 23, 2023
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