Interviews with Indian NFT platforms reveal a mismatch of NFT supply and demand. While many Indian artists, Bollywood celebrities and sports stars have launched NFTs, there's a lack of collectors to buy the offerings, says tanvi_ratna. Opinion NFTs
, a top performer on the Kalamint platform, started off as a creator but now spends 100% of his time flipping NFTs. His story is the kind that motivates many artists across the country to enter the NFT space. He used to be a freelance graphic designer in a small town in the Indian state of Gujarat, designing logos and branding for companies. “It used to take me three days to design logos with customers complaining and constantly needing changes.
From a mass adoption perspective, however, NFT collectibles are not quite finding a product market fit in India. A limited set of Indian collectors leverage NFTs for speculative uses. This small Indian collector community cites a preference for high liquidity NFTs, with PFP art and photos as the best performing categories.said: “Historically Indians have not been collectors. Art is something Indians haven’t really warmed up to as an asset class.
Indeed, different players in the market are coming to terms with the real value in India being for utility-based NFTs. Sangli said one of the higher performing segments in Kalamint is for brands and entrepreneurs to cross promote and sell NFTs that can be redeemed on their site for goods. WazirX experimented sellingIt is not for lack of trying that NFT collectibles have not taken off.
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