The Ishihara color test is a color perception test from the early 20th Century, designed to identify red-green color deficiencies in the test subject's vision. Many people find Ishihara plates to be aesthetically pleasing, regardless of their functional use. Thus, the Ishihara Plate NFT runs parallel to the analog Ishihara color test: a functional utility distilled into an object with its own artistic merit.
The NFT isn't actually used to test color blindness, but more of abstraction as a piece of digital art.