"While few admit it publicly, NFTs have not done well thus far in Japan. As in other parts of the world, mainstream conversation about NFTs is still preoccupied with sale prices over and above the artistic potential of the technology. Goh Uozumi, an artist who has been minting NFTs since 2019, wrote on his blog that “[t]he lack of criticality in the early days of [the] NFT […] was one of the factors that set the course for the subsequent dominance of hype.” While it is undoubtedly necessary for Japan to explore new economic opportunities, the greed fostered by the 2021 bubble has so far dissuaded many Japanese art professionals from engaging with NFTs."