It's sad to see these fantastic technologies falling into darkness. Same can be said about the majority of the internet and its phenomenon to be honest.
It creates a scarcity in an internet full of abundance. You can copy/paste a JPEG or MP3 a million times (hello piracy), but you can't own an NFT or coin you don't actually own. Sure, you can copy/paste the underlying JPEG, but thats not the same. There will only be 1 blockchain owner.
This unique property of scarcity is a valuable property for financial products, in an obvious way. The issue is that an abundance of a scarce product is ripe for fraud. Oh, and of course there is no answer for the on-chain to in-IRL conversion for things like ownership.
Outside of money you don't need scarcity
Blockchains created scarcity. Not bitcoin. Bitcoin uses a blockchain to enforce its particular scarcity. Blockchains enable auditable history, meaning that we can have "only one" true owner (per chain) and one true chain - that's good for money, yes.
> Outside of money you don't need scarcity
Yet people seem to love it. I personally have no interest in NFTs but I understand that people like collecting, and its a way to collect that's verifiably true (presumably, it'd be humorous to find the exchanges were just CRUD app with sql ledgers).
In the end, this is a less interesting beany babies.
Who gives a shit about anything? Luxury goods have value from name only? Who cares about baseball cards or stamps? They're so easy to print on a inkjet that anyone can have any card they want?
This is just another example of "not made for you" collectors. Its scarce because the creator said so, and because its auditable without trust.