Which, as you point out, can be simplified to "exist" ;)
But owning a prime piece of vintage computing history gets you into a community too. And owning one is as much as status play as BAYC is.
There isn't an easy way to flex your status online, unless you're a celebrity, or put in the work to become an influencer.
For people with money, there isn't a simple way to come to places like HN and just be important because you have money. There isn't a way to show people how wealthy and powerful you are without contributing.
But NFT's allow you to show people how much disposable income you have, and therefore how much better you are than the unwashed masses, without needing to really do anything of substance.
Or maybe that's just my own personal bias and confusion about NFT's in general showing?
Its like walking around with a Gucci billboard on your forehead - you think youre flexing but youre actually just demonstrating clown shoes.
Nobody cares how expensive your nft is. They have no use anywhere. Its like having the fanciest clownshoes - you're still a clown.
It is like that "I'm Rich" app someone from Germany(?) made for iOS. Priced it at the max and a few people bought it!
What they got was an app that displayed a picture of some expensive, fantasy ring with an equally fantastic gemstone set in it.
Total status signaling!
Of course the general failure on that one was the lack of network effects. Someone could see the app was on a phone, and or could see the displayed picture should the user leave it running.
Seriously lame, but still there appeared to be at least a few takers.
[1] https://www.vice.com/en/article/5dgzed/what-the-hell-is-righ...