Regarding NFT, Tokocrypto Boss: There Needs To Be Education For The Community

There needs to be further NFT education for the wider community (photo: Pixabay)

JAKARTA - NFT or Non-Fungible Tokens do not always experience a positive trend. As today, for example, NFT is no longer much talked about by people like the Ghozali Everyday era last year.

However, Tokocrypto CEO Yudhono Rawis, said that the ups and downs of the NFT market were very normal. However, Yudho is optimistic about the future of NFT.

Trends And Education

Yudho's explanation, NFT is more than just a trend and is a revolution in understanding digital property rights. NFT provides the ability to authenticate and verify digital asset ownership, a feature previously difficult to achieve.

This means that in the future, all types of digital assets, from product design to music copyright, can be tokenized and traded safely.

Second, despite the decline, a number of NFT platforms still recorded significant transactions. This shows that there is a fixed demand for NFT. Some platforms or NFT projects remain popular and profitable.

For example, OpenSea, the largest NFT market, recorded a trading volume of more than 10 billion US dollars (Rp156.3 trillion) in March 2023. Likewise, several NFT-based games such as Axie Infinity or CryptoKitties still have a large user base and revenue.

To bring NFT back to glory, Yudho said, there may be some things NFT creators, collectors and investors can do.

For creators, they must be able to create NFTs that are of higher quality, unique, and meaningful. Also, increasing regulations and policies that support the development of NFT without inhibiting creativity and innovation.

"One of the NFT differentiators is that they can represent digital assets that have high artistic, cultural, or historical values. Therefore, the creators of NFT must strive to create works that show their creativity, originality, and expertise," Yudho explained.

In addition, the most important thing is to educate and inspire the wider community about NFT. NFT is still a new and foreign concept for many people, especially those who are unfamiliar with blockchain or crypto technology.

"Therefore, NFT market players must try to spread awareness and knowledge about NFT to the wider community. Especially regarding what NFT is, how it works, what the benefits are, and what the risks are," he concluded.