To be frank, this is already solved.
You have to look at the true nature of the asset, how it launched, who’s the artist, etc.
If it is made by a Fiverr hire, an underpaid commissioned artist, or it was an “unrevealed” collection → it’s speculation and probably shit and not art.
If it is a broker, a disguised security, or whatever → it’s speculation. (The game is hot potato)
If it is made by artists, was an experience, pioneered something, and was fair in the distribution and access → it’s art (think CryptoPunks, Glyphs, Chromie Squiggle, XCOPY).
If it was made by an artist but launched via a closed platform like Nifty Gateway in “open edition” → 50/50. Maybe it has a bit of relevance if you got a Beeple, but most likely you’ve been losing money and it was more extraction and tulip bubble than art.
That’s it.
You like NFTs? Buy Punks, Fidenza, or whatever. If you have less capital, there are tons of amazing artists with things on sale literally from a few cents.
If you want your penguin, monkey, or ugly 3D robot respected, that is another challenge.
TLDR: Don’t confuse gambling tickets, Pokémon cards, and Picasso... Collectors will collect what is worth being collected.
Have a good day.
PS: I made the error myself of buying many projects thinking they were culturally relevant collectibles or that they would have a future. My post can sound grumpy or lesson-giver, but I've been a lesson taker. Humbled by the market believing in stuff like Clone X.
Imagine NFTs stopped being about speculation, flipping, and making money.
Think about it...
Builders, building.
Collectors, collecting.
Not everything needs to be an investment, but would you still buy NFTs if there was nothing to gain financially?