This species has amused itself to death

NFTs are mostly used as a ponzi game. There's not enough physical art or exotic cars or other collectibles for the moneyed folks to trade, so now they have NFTs.

IMHO, it's more likely that the heart of the NFT economy is based on capital flight, money laundering and black money transfers, and outright fraud based on wash trading: fraud that's dressed up to look like a Ponzi scheme so that the buyer thinks they are in on the grift.