An Indian couple has uniquely digitized their wedding. The couple integrated non-fungible tokens (NFTs) in their event. The NFTs will run on the Ethereum blockchain.
The couple, Shruti Nair and Anil Narasipuram stated that they had held a blockchain wedding after reading articles and getting inspired by other couples that had done the same. Rebecca Kacherginsky, a staff product designer at Coinbase, has done a similar wedding.
A blockchain wedding
To get the full effect of a blockchain wedding, the couple used the services of a digital priest, Anoop Pakki, who was tasked with minting the NFT. The digital priest officiated the union, and the couple read their vows. The groom later transferred the NFT into the wife’s digital wallet. Anil stated that the transaction cost $35 in Ether gas fees.
The couple read their vows together. “We won’t make any big promises, but we will do everything we can to make this work. Through all our disagreement and conflict, we hope to grow our understanding of each other and ourselves. We don’t expect to be the whole village for each other, but we will be by each other’s side, hand in hand, walking through this adventure, together.”
This wedding vow was published in digital form, and it was minted as an NFT by the digital priest. The NFT had a description that stated the couple’s age and the date when the two were declared husband and wife.
Crypto regulations in India
The crypto regulatory framework in India has changed significantly. The Indian Finance Minister, Nirmala Sitharaman, recently introduced a 30% tax on crypto transactions.
Her announcement on the taxation measures stated that “any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deductions in respect of any expenditure or allowance shall be allowed while computing such income, except the cost of acquisition.”
The country is also planning the launch of a central bank digital currency (CBDC). According to the finance minister, a CBDC would boost the country’s economy and boost a cheaper and more efficient monetary system.
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