LEGAL PROTECTION OF NFT ASSETS: STRATEGIES TO PREVENT BUBBLE PHENOMENA IN THE DIGITAL ECONOMY

Abstrak

This research examines the legal protection frameworks necessary for Non-Fungible Token (NFT) markets to prevent destructive bubble phenomena while fostering sustainable innovation. As NFTs have evolved from niche technological curiosities to multi-billion dollar markets, they have exhibited classic bubble characteristics, including rapid price acceleration disconnected from fundamental valuations, speculative purchasing behaviors, and boom-bust cycles causing significant financial losses. Through mixed-methods analysis combining quantitative market data with qualitative legal assessment across multiple jurisdictions, this study identifies critical vulnerabilities in the NFT ecosystem that contribute to bubble formation: extreme information asymmetries, absence of standardized valuation methodologies, inadequate intellectual property frameworks, and manipulative trading practices. The research evaluates regulatory approaches across global jurisdictions, finding significant variations in how NFTs are classified and governed. Based on comparative analysis, this study proposes a comprehensive legal protection framework comprising four essential elements: clear asset classification and disclosure requirements tailored to NFT characteristics; market oversight mechanisms to detect and deter manipulation; educational initiatives to improve market participant understanding; and collaborative governance models engaging industry stakeholders. The findings suggest that effective NFT regulation requires balanced approaches recognizing the multi-dimensional nature of these assets—simultaneously functioning as creative works, potential investment vehicles, and technological innovations. The research contributes theoretical insights regarding digital asset governance and bubble prevention in emerging markets while providing practical policy recommendations for sustainable NFT ecosystem development.