NFTs are a scam as old as markets themselves. Buy your own supply at any price, then sell to a sucker at a "discount".

Sprinkle around marketing bullshit about how all real world things will be NFTs one day, be really good at capturing imaginations and creating fantasy. More suckers get in.

They'll end the same way as similar scams too - founding teams had no skin in the game since they just paid themselves, pros will ride the wave and cash out in time, and suckers will be left without bids.