Yes, a NFT represents a tangible item - most often a digital image.
In general the crypto market has area connected to tangible items - NFT, security tokens, etc. , where the value is based outside of the token/coin.
And, there are areas which have coins/tokens which are not based on anything tangible. The value is tied with the coin/token.
In my personal opinion this includes - meme coins, DeFi tokens, and even bitcoin.
