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In India, OKEx has launched an NFT marketplace and a DeFi dashboard

DeFi Hub is a decentralised digital asset ecosystem created by OKEx, the world’s second-largest bitcoin exchange by volume. Additionally, the NFT marketplace and DeFi dashboard will be the platform’s two main products.

The NFT Marketplace

The NFT marketplace will be an end-to-end NFT platform on which users may purchase, sell, and trade NFTs directly. This includes no fees paid to OKEx, according to the business, which has more than 20 million customers worldwide.

The DeFi dashboard intends to provide Indian consumers with an improved and simplified interface for managing their digital assets.

Decentralised finance, often known as DeFi, is an experimental type of finance that does not rely on central financial intermediaries.

NFT Adoption in India

“The NFT adoption in India is increasing at a very fast rate, and there is an urgent need for an organised platform, which will enable artists to create and exchange their artworks in a highly secure digital ecosystem,” said Jay Hao chief executive officer of OKEx. The OKEx NFT marketplace will cut out the middlemen, ensuring that the artists who put in the effort to create the art get the most value.”

Newly created NFTs will be available for purchase on the marketplace. Additionally, creators will be free to establish their royalty costs. The Seychelles-based business stated that they would pay out royalty payments to artists in every subsequent purchase on NFT Marketplace’s secondary market. Moreover, sold and resold NFTs have the capability of automatically paying royalties to their inventors.

Additionally, to utilise DeFi Hub, users must link their decentralised wallet to the site, just like any other decentralised application.

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