The word “utility” is often used in the context of assessing the value of an NFT. “Utility” can be interpreted as “usefulness” or “benefit,” or in a broader sense, as “what is good” about a product. The trend of simply releasing NFTs of images is on a decline, while NFTs that have “utility” or the ability to demonstrate what is good about the product are gaining popularity. My attempt to imagine why this word may have come to be used brought me to the notions of “entity” and “utility.” The va...