But a diamond is in itself worth only what the market believes it to be worth. In fact diamonds are pretty common, but all the supply is dominated by De Beers, so diamonds are worth, what De Beers says they are worth, sound much like an NFT? There are a lot of stones, much rarer by the carat that somehow don't fetch the same price.
If I can do a De Beers and market a Rare Digital Thingtm
and people believe it to be worth summat, then people will sell and buy the damn things and more fool them.
Personally I value things by their utility; food, warmth, housing, nothing but nothing else is worth the paper it is not written on.
Having said that, and bearing in mind the Weimar republic and hyper inflation, the thought of investing in something tangible like gold, in these uncertain times is appealing.
“This wasn't just plain terrible, this was fancy terrible. This was terrible with raisins in it."