Physical art works get their market value from the museums and art galleries that want to buy these things to put on display. If there was not that market, there would be no speculative market of people buying only to be able to resell, and so store their wealth. Bitcoin previously got its value in large part from the Silk Road marketplace in illegal goods. Since that was busted it’s not clear what its value is based on. An NFT that actually confers some meaningful right on its owner, one that people will pay to have, not to resell, could be worth something, but without that tie to people buying the thing to have the thing, I am not seeing what can give an NFT a stable value.
Physical art works get their market value from the museums and art galleries that want to buy these things to put on display. If there was not that market, there would be no speculative market of people buying only to be able to resell, and so store their wealth. Bitcoin previously got its value in large part from the Silk Road marketplace in illegal goods. Since that was busted it’s not clear what its value is based on. An NFT that actually confers some meaningful right on its owner, one that people will pay to have, not to resell, could be worth something, but without that tie to people buying the thing to have the thing, I am not seeing what can give an NFT a stable value.