It may not be just another status symbol though. It is likely also a pump-and-dump or tax evasion. For example, let's say I buy 10 NFTs from the same set, each

It may not be just another status symbol though. It is likely also a pump-and-dump or tax evasion. For example, let's say I buy 10 NFTs from the same set, each for $50k. I then sell one of them to another wallet that I secretly own, but I sell it for $5M. Suddenly the "value" of those NFTs has gone up 100x! I can then sell the other 9, or I can even donate them to charity to reduce my taxes by $45M. This is not dissimilar from physical fine art. It's just a lot easier.