Recently, watching NFT liquidity really feels a bit like watching a vegetable market: when the floor price drops, all the listings are "selling first and asking questions later"; when it heats up, people start telling stories and emotions. I'm also conflicted about royalties; honestly, they are cash flow for creators, but once everyone is competing to sell cheaper, royalties become an option to "bypass," and in the end, no matter how strong the community narrative is, it can't withstand thin trading volumes. This is even more obvious during the airdrop season—task platforms acting like attendance check-ins, points systems turning the degens into workers, and as attention shifts away, the depth of NFT transactions becomes even more fragile. Anyway, now I analyze projects by breaking down their structure: who is paying, where the money comes from, and how the unlocking works; otherwise, relying solely on hype is pretty scary. My biggest fear isn't slowness but chaos—slow can be waited out, but chaos means you can't even find an exit.