What's the point of physically backed NFTs? I don't get it.
The whole point of NFTs in my opinion is to try to decentralize ownership. But if you back something with a physical asset, all of a sudden you are once again concentrating the value of the asset onto the physical object that is under custody of someone.
I'm sure it'll be done but I don't think that it'll be big. Just like how gold backed cryptos don't make sense.