Metaverse and NFT: A New Technological Rising Star

Yogyakarta, January 26th 2022Center for Digital Society (CfDS) Fisipol UGM held OPOSiT #25 or Chats and Opinion About the Digital World on Wednesday night (26/1). On this occasion, the topic was  “How do the Indonesian Society Respond to New Technologies?”. The event was held through @cfds_ugm Instagram Live and was hosted by Perdana Karim (CfDS Research Assistant) and Ardi Aziz (International Relations student 2018). The event talked about new rising-star technologies which are NFT and Metaverse. Those new technologies can be seen as a form of data decentralization, where users can take over the internet which is now free from the company’s monopoly. Ardi Aziz said that this new trend is very positive and needs to be welcomed because data decentralization can lead to empowerment. “Metaverse and NFT give a chance for talented individuals to create something of value, which they used to not be able to do in the real world,” he said. 

This phenomenon can be seen in the recent Ghozali case. Ghozali got millions of rupiah because he successfully sold an NFT of his selfie for five years. This creates plenty of responses from society, with some of them interested in delving into the NFT world even though they don’t understand the whole thing yet. 

However, the NFT culture also creates a wrong mindset in the society where they see technology merely as a way to reap money instead of a place to create innovative work.

“I agree that NFT is a moneymaker for their creativity, but at the same time the Opensea market is now filled with people who are trying to copy Ghozali’s work by using corruptor’s photos, and even worse, some use their selfie with their identity card,” Perdana said.

Furthermore, the government keeps pushing society to go into the Metaverse world with even more new technological concepts. However, not every state is ready to deal with this new technology. Indonesia can be taken as an example. It’s a developing country that doesn’t have three important factors; accessibility, talent, and infrastructure. 

“NFT and Metaverse are still new technologies, but we need to realize that the access to this new world is not yet inclusive enough,” Ardi Aziz said.

Additionally, it can’t be denied that to handle that type of technology, talent in the form of technical specialists is needed. Infrastructure in the virtual world, which is the internet, is also still lacking in our country. Therefore, Indonesia’s gen Z that are tech-savvy needs to be pushed to maximize their potential.