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ARTICLE · 04 NOVEMBER 2021

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Demand To Clarify Legality Of NFTs In India Grows

RNA Technology and IP Attorneys
RNA Technology and IP Attorneys
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RNA Technology and IP Attorneys

RNA Technology and IP Attorneys

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Non-fungible tokens (NFTs) have recently gained enormous traction in India. While the COVID-19 pandemic adversely impacted the art markets in India, NFTs bring hope to the artists and creators looking at the digital art markets to overcome traditional market barriers.

IndiaTechnology
RNA, Technology And IP Attorneys
RNA, Technology And IP Attorneys

Non-fungible tokens (NFTs) have recently gained enormous traction in India. While the COVID-19 pandemic adversely impacted the art markets in India, NFTs bring hope to the artists and creators looking at the digital art markets to overcome traditional market barriers.

Digital platforms can provide for artists to access a broader market base, gain better reach, and receive good value for their work. Furthermore, artists have the flexibility to set their royalty fee for every subsequent transaction of their work in the secondary market.

Rise in popularity of NFTs

NFTs have emerged as a talking point across the Indian IP sphere and beyond. On Twitter, conversations around NFTs are growing in India, with their volume increasing by 43% between April and June 2021 on the platform. In sum, India has generated over 600,000 tweets on NFTs over the past year.

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