Physical art markets are really just for money laundering for the wealthy. A privacy mechanism for big dollrs
It appears to me at least that the NFT market is just the same scheme in a digital implementation
While I do agree the jpeg market doesn't make sense, I think it will continue to exist for at least that reason, but ultimately I am on the side of the fence that thinks teh NFT technology will somehow lead to some interesting use cases in the future tying the physical world to the blockcchin
In fact, I think NFT tech/protocol will somehow be near the core of whatever the future of crypto holds.