probably fake, given that to see the blue laser you’d need to have smoke or something in the air, and given that you’d also be able to see the red laser

so its probably just an invisible laser or something else popping the balloons and someone added the blue over it to make it look more interesting??

Certain lasers frequently show up on camera.

This specific one looks like it was made from a DIY tutorial as well, I’ve seen a similar one that was the same color. They probably have the balloons filled with gas so they show up more when they pop as well.