So NFT's are just a way to introduce artificial scarcity for what is otherwise a reproducible digital good? A way for people to flex money on things that don't exist? They're like DLC skins in a video game - worth nothing, other than showing off that you spent $x dollars?
Kinda? Most things are reproducible. Limited edition sneakers are reproducible, and yet scarcity makes them worth thousands of dollars.
Is it stupid to pay $10k for some hard to find sneakers? maybe, but people do it because they have the money and they're collectors, or they want to flex. Is it more real because there's a physical item which costs maybe $20 to manufacture?
It's not like your example with the DLC skins, DLC skins are not limited in any way, the game company can create more and more of them. An NFT collection is limited, there will never be more than the amount the contract specifies (unless the contract leaves that open-ended intentionally). The creator can't simply sell new ones, because using a new contract would make the new ones lose all inherent value.
It's exactly the same as how certain sneakers are worth $10k and others that are from the same brand, same designers, same materials are worth $100 – provenance matters, and knowing it was released in an extremely limited way makes something more valuable.
