Why some NFTs are so valuable?

If someone ask you why some NFTs are so valuable and expensive to buy, For example a Single NFT of BAYC Bored Ape Yacht Club have worth 65 ethereum right now which is equal to $111278, you may don't know minting price of a BAYC NFT back in 2021 was 0.08 ethereum that Shows how a single NFT project gives you returns of thousands of dollars, I know every nft project not going to become BAYC and Crypto punks but still there is a chance of a good returns from a right nft project if you are in a NFTs space, now the question is how a nft become so valuable let's discuss it

Art is not a everything there are so many nft projects have very nice art but still not able to become valuable and papular,I think the most important thing is a community if a nft have a strong community of supporters and holders it will definitely become valuable over time, another thing is a total supply or meximum supply of NFTs, mostly NFT projects have 10K or less supplies so when demand increases after selling out whole collection NFTs value or floor price keep increasing because collectors love to hold it and supply always stay same

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As we know there is not any way to get BAYC nft from its 10K collection other than buying it from secondry market that's why it's price is so high, we should also keep in mind BAYC have many other benefits and rewards for there holders, in short if a nft project have limited supply, strong community and use cases or benefits for their holder's it's value will increased that's why some NFTs or so valuable and expensive

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