Why does NFT art have value?

NFT art has value because the digital files are unique and have ownership associated with them. The digital medium allows collectors to have access to an artwork that can be experienced in more ways than just a physical print. Additionally, the scarcity of the artwork increases its perceived value, much like anything else that is rare and desired. The accessibility, uniqueness, and scarcity all create intrinsic value that can be traded and exchanged for financial profit or prestige.

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