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NFTs do have a use value
(hexbear.net)
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this post was submitted on 16 Nov 2021
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I see this a lot on the internet but it's only partially true, like it only happens for the 0.1% of collectors who can afford to slosh $80m in wet paintings into freeports every season. The vast majority of collectors just want to sell their work for more then they paid for it 20 years ago. Return expectations are still wildly inflated, but the whole market actually isn't just a laundering scheme, and most "investors" in conventional art break even at best.
Source: I'm the brilliant but sexy art history major in every airport novel you've read
Oh for sure, only the 0.01% or higher who can afford this do this. You're right that most investors are doing this because they hope to sell for more than they buy, and will have to pay capital gains tax.