Using your reasoning a large number of collectible items should be worthless. What really makes an NFT different from a Pokemon card, a Birkin bag, or even an original Monet? My guess is that the seller has to have some sort of authority and established reputation for these kinds of artificially scarce luxury goods to maintain value.
> Using your reasoning
Clearly not, the point being made was that you owned a thing, e.g. a Pokemon card. To own an NFT is to, bafflingly, claim to hold a token of ownership of some asset represented by the NFT - where that representation is indicated by the NFT immutably containing, typically, a thoroughly mutable Google Drive link to a picture. The whole thing was always farcical.
Again, at least you actually own the Pokemon card at the end of the day.
The value of pokemon cards or birkin bags is not because they are physically owned. This should be obvious from the fact that I could cheaply reproduce them and my identical reproductions would have 0 value compared to the original. I still own them though so again, according to your reasoning they should have the same value.
Some pokemon cards are worth so much i could reproduce them with gold instead of cardboard and it would be worth less than the cardboard version (assuming the same weight)
Things can have value beyond their physical substance. A Pokemon card isn't just paper and ink. I'm not arguing about whether the asset has value, I'm arguing about whether you actually own it.
I'm not sure, but I know I'd rather own a Monet than a Bored Ape Yacht Club NFT ;)
Obviously, you can sell one for a lot of money. Now assuming you couldnt resell it, would you spend the majority of your wealth to buy a monet? (Assuming you arent broke)
Assuming I could not resell the Monet, which sounds strange, I would still prefer it over the Bored Ape Yacht Club NFT, which is more likely to be hard or impossible to sell, and which is pure crap.
The big issue with NFT's is that can't use them to flex on people as easily.
I think that was a big part of it, if you owned an expensive NFT and set it as your profile picture it gave you some cred with certain circles online.
But nothing like showing off a Monet to visitors.