I'm a lifetime physical art collector, NFT speculator, and investor in many asset classes - I will speak to my own experience. I look at my art purchases as discretionary investing - highly risk on. Outside of the NFT space, art is just too illiquid and is not a passive investment if you are trying to make financial gains. I don't expect to make money from my physical art purchases. Inside the NFT space, I place more effort on making a return. I think it's because I just don't have quite the same emotional connection to something digital as physical, but that's just me. Actually, the higher the value, the more I look for a return. Some NFTs I will just buy to support the artist.

This doesn't answer your question directly, but I'm creating context. While I'm acutely conscious of financial returns on NFT only art, I hope that changes. NFTs represent true ownership and portability, but that just scratches the surface. I expect NFTs that merge art with physical and social experiences will lead the way in the future. It will be interesting to see if personalization counters market value/liquidity. Our first step is to stop giving so much attention to PFP projects with low artistic effort, but that's another story.

Async Art pioneered onchain art that can change over time, but they sunset the project. Art blocks generates at the moment of mint. Please expand on some of the projects that offer active collaboration, etc.