Of course art has value... to society. That isn't the same thing as it being "worth $x", a statement that only makes sense in the context of scarcity economics.
In that sense yes, only physical[0] art has a dollar value determined by supply and demand because the supply is infinite when we're talking about information. An NFT's supposed "value" comes from the perversion of a post-scarcity space by artificially introducing scarcity in the form of cryptographic certificates. NFT proponents tell you that cryptographic certificate is somehow related to the art, but it isn't. That's an illusion. I can create an NFT that also points to the same art your NFT points to and we'd need non-cryptographically-secure non-decentralized context to know which one is legit, so even the point of selling to status-wankers doesn't make sense to me.
[0] if we ever get some kind of replicator technology that can perfectly duplicate a physical object, then that all goes away. Hell, I don't even personally really believe in it because I've spent a lot of time thinking about the Ship of Theseus and what it means.
In that sense yes, only physical[0] art has a dollar value determined by supply and demand because the supply is infinite when we're talking about information. An NFT's supposed "value" comes from the perversion of a post-scarcity space by artificially introducing scarcity in the form of cryptographic certificates. NFT proponents tell you that cryptographic certificate is somehow related to the art, but it isn't. That's an illusion. I can create an NFT that also points to the same art your NFT points to and we'd need non-cryptographically-secure non-decentralized context to know which one is legit, so even the point of selling to status-wankers doesn't make sense to me.
[0] if we ever get some kind of replicator technology that can perfectly duplicate a physical object, then that all goes away. Hell, I don't even personally really believe in it because I've spent a lot of time thinking about the Ship of Theseus and what it means.