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Southeast Asians jumping on NFT bandwagon to boost incomes

But signs of falling liquidity in nonfungible token markets could mean trouble

Nonfungible tokens, or NFTs, are bought and sold in Southeast Asia through games such as Axie Infinity. (Source images from Axie Infinity website)

JAKARTA/MANILA -- Ever since digital artist Beeple sold his NFT artwork at Christie's for $69 million in March, nonfungible tokens have been in vogue. Skeptics see the blockchain-based technology as just another fad, but proponents believe it could change the world of finance.

And while the talk of revolution may be overblown, NFTs are indeed changing the lives of some Southeast Asians, from those struggling to make ends meet to budding artists who are using the tokens to earn valuable extra income.

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