> With a lot of art just stored tax efficiently, not sure how relevant "enjoyment" currently really is at the upper end of the market (maybe enjoyment of possession?).

On the flip side, are millions of people who pay money to simply view art every day in cities around the world. That seems like pretty strong evidence that people get "enjoyment" from it.

> Arguably, being part of the crypto community does seem to bring some people joy.

I'd guess it's the part about the rapidly rising prices that gives them joy.

The contention was that price formation in art could in principle be driven by enjoyment not that people in general don't enjoy art. What if art also always has a social signaling component to its price?

Whether is it rising prices or community that gives people joy in crypto I have no data on - are there any infomative studies around?

> Whether is it rising prices or community that gives people joy in crypto I have no data on - are there any infomative studies around?

I'm not sure about there being "joy" in crypto currencies. This article [1] argues the exact opposite, but isn't a study of any kind. I'd be interested to see the average rates of depression among crypto owners. Gangs give people a sense of community (maybe we call that "joy"), but they aren't good for people's health long-term.

[1] https://www.vice.com/en/article/akvn8z/crypto-bad-for-mental...

Because the current owner of piece is just storing it in some airport warehouse doesn't mean there aren't others who would like the work to be hanging in their home or available to see in a gallery.

A private key doesn't do any of the things that great (and no-so-great) art can do for us.