Recently, I’ve been looking at NFT liquidity again, and the more I look, the more I feel that the floor price is basically an emotional thermometer: when the narrative is hot, people can’t even be bothered to place orders; when it turns cold, they start smashing each other’s bids and asks. Even royalties get “optimized” away, almost to nothing. To put it plainly, everyone wants faster trades, but without a royalties community, there’s no money to do anything—so in the end, all that’s left are images and slogans... I’d be lying if I said I don’t envy those projects that are hot to the point of being unreasonable. Even though I know the risks are high, my hand still itches a little.

By the way, before that mainstream chain upgrades/undergoes maintenance, everyone in the group is guessing whether it will migrate. I think whether it migrates or not doesn’t really matter; what matters is whether, after it moves, there are still people willing to take over and tell the story. Anyway, I’m going to keep focusing on order book depth and holder structure, writing fewer bugs, and not acting like more of a liquidity victim.