Lately, NFT liquidity has been a bit heartbreaking: when the floor price loosens, listings drop like an avalanche, moving down a notch, and the issue of royalties is brought up again for debate... To put it simply, when liquidity is poor, royalties are more like "transaction friction," but without royalties, the community has no money to tell stories, and when the narrative cools down, no one wants to take over, making the cycle quite intractable.

Then I was still a bit behind, watching the comparison between RWA / U.S. Treasury yields. Others are discussing whether "on-chain yields look like government bonds," and I was thinking: as these yield products increase, won't attention be more drawn away from NFTs? Anyway, right now I care more about whether the community can continue to produce genuine content; otherwise, the floor price is just a piece of paper... I can't say I'm right, just making a note of it.