Web3 Trends Decreased Due To Competing With AI, What Is The Potential In The Future?

CEO of Nusa Finance, Wildan Ramadhan (left) and Co-founder of Nusa Finance, William Sutanto (right) (photo: Dinda Buana/VOI)

JAKARTA - In 2022, the Indonesian people were enlivened by a non-fungible token (NFT) phenomenon, when a young man named Ghozali managed to reap trillions of rupiah from a selfie of himself.

After the Ghozali phenomenon has passed, the trend of NFT in Indonesia tends to decline. However, Nusa Finance as a actor in the Web3 industry said that NFT still has potential in the future.

According to the CEO of Nusa Finance, Wildan Ramadhan, the NFT trend has now begun to shift. From what was previously only for trading, but now it is also utility.

"There is a shift for the NFT industry. NFT in 2021 is NFT for trading. In 2023 it has shifted to NFT with utility. So, such as NFT for tickets, NFT for membership, and others," explained Wildan at the Media Lunch Nusa Finance event in Jakarta on Thursday, July 6.

Not only that, Wildan also stated that in the future, NFT will also be able to have benefits, even become a person's digital identity.

"So later I will see that this NFT is not only for trading anymore, but also for having benefits that are used for a certain case. Well of course, that will emerge in the future. Besides being able to use NFT as a Digital identity," he added.

Despite the decline in Web3 price trends, Nusa Finance Co-founder William Sutanto found that public enthusiasm for the Web3 and blockchain industries was still very high.

"Because if we look at the development from week to week, a lot of things happen on Web3. New projects continue to emerge, new innovations on blockchain and Web3 continue to emerge," William said.

However, it is not balanced with prices. Even though it has extraordinary investment value, the company will also definitely see its short-term or short-term impact.

"Because, apart from the price of Web3, blockchain, and crypto, it's trending, but also we are now rivals with AI. Because large companies that have foreign investment can, they also see short terms, because they are currently FOMO to AI," he added.

However, despite having a downward trend turnover, Wildan stated that actually many people are making new projects and innovations in the Web3 ecosystem every time one of the trends has decreased.

"Indeed, the cycle is like that, where there are FOMO times, then it goes down, and here we focus more on building futures and innovations. So if we pull back a few years, after the emergence," concluded Wildan.