No-one knows. Think of a sheet of paper. Put a dot on the top left and the bottom left. You can see how far they are apart, now fold the sheet and the dots are much closer together. That's the thinking here. It might be impossible, it might be that spacetime is already folded in higher dimensions and we just need to find convenient spots. At those spots we would open a wormhole between the points on the sheets. We'd need exotic matter to form and maintain the wormhole, because ordinary matter is part of spacetime.
If we actually had the ability to do this, would we attempt it?
I mean, surely it would be impossible to know what the consequences of doing such a thing would be to life as we know it?
As we learn more, we can predict the consequences. Human nature suggests that if we can, we will.