The trend of NFT in Indonesia is good news for people in Indonesia, especially the artists. Artists can be more appreciated for their works with NFT, and the newly developed Metaroid NFT marketplace can be the beginning of the golden era of Indonesian artists.
Metaroid is the first NFT marketplace in Indonesia that acts similarly to social media. Unlike other existing NFT marketplaces, with Metaroid, NFT creators can connect straight away with NFT collectors, even also with the corporate running NFT transactions.
That unique Metaroid feature allows NFT creators to have some emotional connections with their fans. That makes fans understand more about the value of their idols. It is also possible to lure new customers to do NFT transactions with this specific NFT marketplace.
Metaroid also has another unique feature that other NFT marketplaces do not have. Each NFT minted into this NFT marketplace will be made into a folder containing the entire ownership certificates along with the art itself and other additional content from the artist. Metaroid only provides some worthy for being appreciated digital arts created by the authentic creators. Therefore, you will not find any jokingly foolish photos claimed to be NFTs without any value whatsoever.
Furthermore, Metaroid uses the 1155 NFT format that allows NFT creators to make original copies of their digital assets. For example, a musician can make an exclusive music NFT which can be multiplied into several limited licensed copies so many people can purchase it.
The name Ananda Sukarlan is closely related to the Metaroid NFT marketplace as he supports the development of the platform. Ananda Sukarlan is the first classical musician in Asia to have three of his works minted as NFTs, which were sold for one billion rupiahs. A lot of his works are recognized internationally by classical music fans.
With Ananda Sukarlan, Metaroid has a mission to improve Indonesia's creative industries with NFT. Artists are supposed to earn the copyright of their arts fully and deserve to get the royalty income from them. One of Ananda Sukarland's recent campaigns is holding the first piano NFT competition in Indonesia.
One of the biggest issues artists in Indonesia find about their works is appreciation. It is easy for people to get some artworks without any requirements to pay anything, let alone give credits to the creators. Indonesian artists also seldom get the royalty they deserve for their arts.
That problem can not happen with NFT, which is why Indonesian artists are excited about the NFT trend in Indonesia. Fans of certain artists are excited as well as they can collect their idols' works with the ownership certificates while supporting them.
Most people in Indonesia recognize NFT because of the viral news about a college student, Ghozali Everyday, who got billions of rupiahs from out of nowhere because of his NFT. Inspired by Beeple's $69 million Everydays: the First 5000 Days NFT, Ghozali minted his NFT collection of 932 photos of his everyday selfies.
The NFT collection was sold for a total of about 12 billion rupiahs, which shocked the entire nation. As the original owner of the NFT collection, Ghozali claimed that he had earned the royalty worth about 1.5 billion rupiahs.
NFT transactions in the entire world have increased significantly in recent years. In fact, the entire transactions of NFT in 2021 reached $25 billion, thanks to the NFT trend in the middle of that year. To compare, all NFT transactions in 2020 were only $94.9 million, which feels like nothing compared to the 2021 transactions.
Because of that, a bunch of Indonesian investors and entrepreneurs join creators and collectors to enter the world of NFT. A lot of people have opened their NFT businesses already, and the favorite one is the NFT marketplace business.
NFT marketplace, like Metaroid, provides NFTs from various creators to be purchased and collected by collectors or investors. The business earns money from the gas fees of all NFT transactions on a blockchain. It is similar to administration fees charged by banks for any transactions.
Other than the NFT marketplace, there is also the NFT launchpad which helps creators promote their NFTs. One of the most popular NFT launchpads is a blockchain game like Duckieland. The game uses the play-to-earn method, which allows players to get NFTs by doing specific tasks in the game.
The trend of NFT in Indonesia can have both positive and negative impacts on Indonesian society. The positive thing is a lot of curious people are interested to learn more about NFT. However, other people are tempted to earn a bunch of money fast and easy from NFT and risk everything without learning about it first.
There is also a group of people who think that NFT is a fake investment platform. They think NFT is just scammers' effort to rob money digitally from dummies with sweet promises of future wealth. NFT is still a new technology in Indonesia, which most people know only because of Ghozali. There are still a lot of artists who do not understand how NFT works, which is rather difficult to learn by first-timers. Therefore, there is still some work to do by Indonesian authorities about NFT.
Another obstacle for NFT in Indonesia is that the country is a Muslim country, so people need to follow specific rules that prohibit several things, and NFT could be one of them. The use of cryptocurrency and blockchain technology of NFT can be viewed as a prohibited transaction for Muslims.
Moreover, the lack of a concrete regulation allows some illegal transactions to happen in NFT. Other than that, the use of cryptocurrency for NFT transactions violates Indonesian regulation to use fiat money for any transactions. Still, the rules can be changed with more research in the near future.
The world of NFT is still at the earliest stage, with a lot of obstacles on its path. However, with the support of the people, government, and others involved in the evolution, including the new artists supported Metaroid NFT marketplace, Indonesia will be ready for the new era of NFT sooner than later.