If anything this is a democratization of the wealthy auction scene. A new tier of field to play.
Alternative assets come in all shapes in sizes. I can store wealth in gold, comics, wine. Why not my name on a ledger listed as owner of nothing in particular other than the price I paid for it? The amount of hate they get on HN should be a clue that everyone is being over analytical and logical, and missing out on analyzing them through human behavior. They arent a robotic math problem, they are behavioral economics.
I can't wait to see an investable etf of sorts that lets people invest in a collection of NFTs like they would bonds. Youll have "curators"/"fund managers" assembling and storing a vast array of art, allowing people to diversify and own fractional shares of a bunch of art.
Does it sound stupid? Absolutely? Which is why it's just crazy enough to work.