That was the reason that the 2 buyers of CU/PCGS (including NY Mets hedge fund owner Steve Cohen) bought it. Ditto BX and CCG/NGC.
The collectibles market was the reason for the purchases, not NFTs. That was another cherry on top, I guess. However....I wonder how many people buying Artekomusias (sp.)The Greek Freak or Michael Jordan Rookie Cards had turned $30,000 into $5 million in BitCoin or crypto.
Let's see what happens to NFT and tangible assets (i.e., sports cards) prices now that crypto and BitCoin are in the toilet. I don't think the $$$ pumping up those sports cards and NFT prices was coming from stocks (even inflated tech stocks) and certainly not interest from 1-2% bond yields before the rise in yields in 2022 (hope some of you are taking advantage of this; I'd post my thoughts here if I can find the OT section).
I haven't seen an article talking about a record price for NFT or sports cards -- or even trophy real estate homes -- in MONTHS, if not back to 2021.