I came here to comment something in the likes of this, just to add it helps to understand not only the price of art NFTs but the dynamics of it.
These "investments" are all backed up by some fantasy that works in their "realm" - like buying an avatar that will be used in "the metaverse", being the metaverse a collective fantasy and illusion.
Just like these fellows are so emotionally invested in this fantasy that they were already selling the rights of a TV Show to a streaming service... and I bet that if you go to them now they have the narrative that this will be sold to some yet to exist streaming service of the metaverse based on NFTs.
Anti-art is actually a thing and kind of interesting, if also arguably also kind of dumb and pointless: https://en.wikipedia.org/wiki/Anti-art. It's sort of the equivalent of trolling in the art world, and is usually a meta-commentary on what it means for something to be art.
I wouldn't really say that it makes up much of the art market, though they always get a lot of news attention when they appear.
These "investments" are all backed up by some fantasy that works in their "realm" - like buying an avatar that will be used in "the metaverse", being the metaverse a collective fantasy and illusion.
Just like these fellows are so emotionally invested in this fantasy that they were already selling the rights of a TV Show to a streaming service... and I bet that if you go to them now they have the narrative that this will be sold to some yet to exist streaming service of the metaverse based on NFTs.