Recently, I looked back at the transactions of several old NFTs, and I feel that liquidity is really quite real: the floor price looks okay, but when there are many listings and few genuine buyers, it instantly becomes "priced but not traded." Royalties are also awkward; I understand the call to protect creators, but when the market is cold, everyone just wants to pay less in slippage and fees. When the narrative isn't hot, who still wants to spend that extra few bucks?

Interestingly, once the community narrative cools down, chats in the group turn into "Is anyone still here," but when it's hot, it suddenly feels like everyone is collectively hyped up. Honestly, NFTs are very much like a mood thermometer. Recently, the disputes over privacy coins, mixing coins, and compliance boundaries have been intense. I also feel a bit divided: on one side, privacy is a right; on the other, some say don’t send yourself into the gray list. Anyway, I’m just slowly accumulating; whether the narrative can be realized, time will tell us.