What is missing in that explanation for me is the increase in value from perceived artificial scarcity. Like paint on paper costs almost nothing until it has t

What is missing in that explanation for me is the increase in value from perceived artificial scarcity. Like paint on paper costs almost nothing until it has the right artificially scarce provenance and becomes a work of art, some cryptocurrencies can become valuable to hold and trade in and of themselves thanks to perceived scarcity.