People seem to be very upset about trading NFTs lately, but the mechanism here is very simple.

Seller creates random NFTs. The same seller then buys his own NFT himself, keeps all the money minus the transaction fees. Brings media attention to his NFT, and then some other sucker pays more for this "popular expensive NFT" he heard about on the news.

They are just modern day snake oil sellers. Nothing more.

Until NFTs are actually attached to something physical and material in real world, for example NFT to prove house ownership, legitimacy of a product, document verification etc., they are basically useless and with no value.