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3 Things That Can Make NFT Bubble

Ponzi Scheme

3 Things That Can Make NFT Bubble

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JAKARTA, Indonesia, May 13, 2022 /PRNewswire/ — NFT has become a hot topic of discussion widely, especially after many NFTs were sold at fantastic prices, such as Beeple’s work entitled “Everydays: The First 5000 Days” which sold for $69,346,250, equivalent to Rp 9 Trillions. Inspired by Beeple, the NFT made by an Indonesian, Ghozali, also managed to gain popularity and sold tens of millions of rupiah. Currently, more and more art performers and connoisseurs in Indonesia are starting to become aware and understand the NFT, this is indicated by the emergence of many NFT communities in Indonesia whose members have reached thousands and even tens of thousands when viewed from the social media accounts of the community. Asosiasi Blockchain Indonesia’s Chairwoman, Asih Karnengsih conveyed “the need for literacy related to the implementation and benefits of blockchain technology that can contribute to economic development in Indonesia, for example NFT which can help artists in Indonesia get recognition and rewards or their potential to contribute to the virtual economy.”

However, seeing this phenomenon, questions and concerns arise, mainly about whether this NFT is just a trend or will it become a bubble, a condition in which an asset that has high value will quickly decline and disappear from the market.

It is entirely possible that NFT will become a ‘bubble’ if the following things continue to happen and are not immediately addressed. What are the things that can make NFT…

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