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ARTICLE · 14 OCTOBER 2022

NFTs In India – Where Do They Fit In?

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NFTs are tokens that represent ownership of rights in underlying digital content, which is recorded on a blockchain.

IndiaTechnology
Kalindhi Bhatia
Kalindhi Bhatia
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NFTs are tokens that represent ownership of rights in underlying digital content, which is recorded on a blockchain. While cryptocurrencies are being given the side-eye by regulators across the globe, NFTs have been (comparatively) welcomed, particularly by the entertainment industry and creative artists. There is an element of exclusivity to NFTs, given that they are, by definition, non-identical and valued based on uniqueness. The 'charm' of having a unique association with the underlying work of an artist, brand, etc., has led certain NFTs to be treated akin to collectibles, garnering wide demand from enthusiasts. This is true for India as well. According to a recent study, India has the third most NFT companies headquartered worldwide.

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