Peng Chia Chia, 65, Wants To Make His Own NFTs To Pay Off His S$11.6mil Debt But Netizens Don’t Think It’s A Good Idea

With all the news about people making an absolute killing from selling NFTs, it can be extremely tempting to want to hop on the bandwagon as well, especially if you need the money.

On Tuesday (Mar 1), Taiwanese comedian Peng Chia Chia, 65, took to Facebook to announce that he is planning to produce his own NFTs and is recruiting his own team of staff for the job.

For those who are still in the dark about what an NFT is, it stands for non-fungible token, which are unique digital certificates that prove ownership of the art pieces they are linked to. Those who own the NFT are considered the owners of the original piece of work.

If done right, it can be a very lucrative market to get into, but just like anything else that involves trading and investments, it has its risks.

This is why not everyone seems to be supportive of Chia Chia’s new project, especially since he filed for bankruptcy in August 2020 after racking up a staggering NT$240mil (S$11.6mil) debt from business ventures gone horribly wrong.

Comments urging him to think twice include: “Please don’t mess around anymore”, “You haven’t even finished repaying your debt and you still want to hire people”, “Be careful, don’t be deceived again”, and “NT$200mil is still not enough, you want to be in even more debt?”, and “Are those going for the job interview certain they will receive a salary?”.

Let’s hope he knows what he’s doing

Fortunately, it looks like Chia Chia is aware that dabbling in NFTs won’t be a sure-fire way of solving all his financial woes.

According to an interview that Chia Chia’s son did with a Taiwanese paper, the star is very clear about the risks and is worried that he won’t succeed, so he is busy doing all the necessary research and prep before jumping on board.

At the moment, the son refrained from revealing exactly what types of NFTs Chia Chia is planning to make, but added that the latter has always been in the process of paying off his massive debt.

Cosplaying Squid Game when you’re millions in debt is painfully self-aware

Photos: Peng Chia Chia/Facebook