2022 is anticipated to become the year for not fungible tokens ( NFTs). With an estimated value of $40 billion, the global market capitalization of NFTs is gaining ground towards the total global art market at $50 billion. But one of the potential most essential markets for NFTs -- India, faces some difficulties with its teeth.

Indian experimentation using NFTs has been increasing over the past eight months. In June 2021, WazirX, the most prominent cryptocurrency in the Indian exchange, announced an NFT marketplace primarily for Indian musicians. Since then, several Bollywood stars and sports personalities have been launching NFTs. The most significant global NFT sales to date that of the Beeple deal, worth $69m Beeple sale, was acquired by a buyer with Indian from India, Vignesh Sundaresan, also known as MetaKovan. Strangely, Indians haven't yet started buying into NFTs yet.

This episode is also available as a blog post: https://anynft.in/2022/03/06/why-india-isnt-buying-nfts-in-2022/