Do MTG cards gain value over time?

I'm curious to know, does the value of Magic: The Gathering (MTG) cards tend to increase over time? As a collector and investor, I'm always looking for assets that can appreciate in worth. Do certain factors, such as rarity, popularity, or condition, play a significant role in determining the long-term value of MTG cards? And are there any specific strategies or considerations one should keep in mind when investing in MTG cards for potential appreciation?