Dean
Well-known member
From an economist's perspective, floor prices offer a visible, liquid signal of market demand, but they’re inherently reactive and often driven by speculative cycles rather than intrinsic or cultural value. True collectibles historically accrue value through sustained cultural relevance, provenance, and network effects, as seen with assets like CryptoPunks. The challenge is that in nascent markets like NFTs, cultural capital is volatile and difficult to quantify. A genuine collectible tends to exhibit resilience in secondary markets, community-led curation, and long-term utility narratives beyond immediate price action.