Majority mining holder? 🤣

If they're landlocked yeah you're fucked. That's why Bitcoin is the greatest asset in human history. Fungibility matters. But the tech will be used for such things whether you like it or not. Even if not by the end user it'll be used by the institutions to save money on processing and such.

It actually hasn't worked for thousands of years. Imagine if all your assets were tied to the legitimacy of your government. What would you do if your government fell or wanted to take all your assets?

Anything that requires proof of ownership. Eventually everything of considerable value will have an NFT associated with it. Like your house will have a tokenized deed, your car a tokenized title. Tokenized stock shares, tokenized certificates of all sorts. There are already high end fashion brands like Louis Vuitton embedding NFC tags in their products that prove authenticity via Blockchain. The best adoption of technology comes when people don't even know they are using it.

Your mistake is thinking the nft technology is only applicable to art.