Recently, I've seen a bunch of PFP narrative renewals, and along with that, people just add a "membership" shell to claim they're a brand. Honestly, I don't dislike the art, nor do I dislike memberships; what I dislike is everyone treating attention as a moat. Short-term hype is easy, but long-term value depends on "signals"—for example, whether the community will continue to push things forward even when you're not actively managing; or if the project team encounters bad news, whether they can communicate clearly and avoid changing rules arbitrarily.

These days, the debates over privacy coins/mixing and compliance boundaries are tearing people apart. I actually think it's quite like a mirror that reveals true brands: genuine brands can accommodate different stances without falling apart, while fake brands rely on echo chamber emotions to survive. Anyway, I look at "signals" rather than slogans; a quick glance before bed gives me a clear sense of the situation.