Many NFTs have no utility, but neither does fine art. Buyers keep buying fine art.
People buy things because they perceive value in them, and sometimes that value can't be measure in money. Psychic value cannot be underestimated.
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I can't seem to believe in the value of psychic value. So I think I will stick to gaming NFTs with utility for now.
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Psychic value is just as real as money value. On occasion, it's even more important than money value. First-mover advantage is the best example of psychic value because it offers something money can't buy.
We buy what we buy or do what we do because of things such as good feelings, staus, ego, health benefits, personal gains, etc. We all rely on psychic value to a degree, even if we don't recognoze it. This very contest is another example of psychic value being used.
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