I can’t help but think that NFTs are hugely inspired by the high-end contemporary art market. Like, both markets have some questionable values and artworks.
Buying an NFT is like owning the certificate of authenticity for a work you don’t have access to and also probably don’t care about.
A certificate of authenticity is kind of like a receipt for an artwork. It proves that the artwork you own is the artwork you say it is, and they’re very important in the high end art market. But when it comes to some of the more… esoteric installations, we kind of behave, legally anyway, as if the COA is the artwork.