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the digital world, NFTs, or non-fungible tokens, are not as popular as they used to be.

At one time, it had emerged as a promising investment destination, but as interest rates rise and money lines dry up, there is a growing sentiment to avoid risky assets that are difficult to verify.



This was covered by reporter Jeon Yeon-nam.



<Reporter>



This is an NFT work by American artist Beeple.



It is a collection of paintings drawn for 5,000 days since the unknown days, and at the beginning of last year, artists such as Van Gogh and Gauguin were bid for 80 billion won, which is more expensive than the works, proving the NFT craze.



Unlike regular computer files that can be copied unlimitedly, NFT is a work of art whose original is authenticated using technology such as virtual currency.



However, this NFT craze has been rapidly cooling down recently.



A typical example is that an NFT of landscape painting, which the same Bipple put up for auction last month, was sold for 300 million won.



Last May, the global NFT market transaction amount was 4 billion dollars, or about 5 trillion won in our money, which is a 76% decrease compared to four months ago.



[Mr. A / NFT investor: When I made a purchase, it went up to 300% of the original price, and it seems to have come in by about 20%.

It seems that I have been waiting for 3 or 2 months to sell at the desired price.]



This is because, as the economy subsides due to inflation and interest rate hikes, there is a growing sentiment to avoid risky assets such as virtual currencies that can cause large losses.



In addition, NFTs are usually traded in virtual currency, and among them, Ethereum is mainly used, and the value of NFTs also fell as it plummeted by up to 80% in a year and a half.



[Seo Ji-yong/Professor of Business Administration at Sangmyung University: I think that the demand for NFTs will continue to decrease a lot because there is a possibility that more people will sell NFTs in the future to make up for the losses caused by the sharp drop in cryptocurrencies.]



As the bubble in the NFT market falls , it seems that the boulder mask, where only commercially viable NFTs survive, will begin in earnest.



(Video editing: Tae-ho Yoon, VJ: Young-sam Jeong)