The basic premise of electromagnetic induction is that supposedly when you have a magnetic field moving, it generates an electromotive field perpendicularly, yeah? But if you had a hypothetical space where Newton's first law could be observed perfectly (no external forces at all), and you just had a magnet drifting on for infinity inside a conductive coil, how would that work? There would be no forces acting on the magnet, it would just remain in motion. The electromotive forces would just be coming out of no where then.
When you move a magnet through a coil or even through space , a non conservative electric field is induced in space in a circular form. But, since energy is conserved in any case which can only be possible in this case if the motion of magnet is opposed so that the kinetic energy of moving magnet is converted into electrical energy and if you have a magnet just moving in a straight line with a constant velocity it will ultimately come to a stop, hope that helps, any other question you have regarding this, you can ask me.