What actually gives old Ethereum tokens value in 2026?

I have been watching wrapped versions of very early Ethereum tokens like WMC and w🍖 trade again, and it raises an interesting market question.

These assets are not winning because of new roadmap hype or massive utility promises. Their pitch is mostly historical:

• they come from the 2015-2016 frontier era
• they are tied to recognizable early Ethereum figures and experiments
• they survived long enough to become tradeable artifacts instead of dead contracts

So what is the real source of value here?

A few possibilities:

• pure scarcity and collector psychology
• social status from owning a piece of Ethereum history
• speculative trading on thin float and narrative spikes
• genuine belief that onchain historical artifacts will become a serious asset class

My guess is it is some mix of all four, but I am curious how this sub thinks about it.

If you buy something like this, are you buying a microcap, a collectible, or basically a museum piece with a market attached?