In economic terms, scarcity is a fundamental concept that describes the gap between limited resources and theoretically limitless wants. In the world of Web3 and cryptocurrencies, scarcity is critical, especially for fixed-supply assets like Bitcoin, which has a maximum supply of 21 million coins. This limited supply creates urgency and demand among investors and users, generally making scarce assets more valuable as their availability diminishes over time. The principle of scarcity also applies to NFTs, where the uniqueness and limited editions contribute to their perceived value.