That alarm clock on the table is still nagging me not to stay up late staring at the order book—but I’m just so happened to be looking at a few old NFT floor prices… Honestly, liquidity is just too real: when the market is hot, royalties can even be treated as a “faith tax” to pay, and when it cools down, it becomes everyone locking each other in and choking each other out—sell orders are paper-thin, and if you want to leave, you can’t even get out. The community narrative is the same: when things are lively, one line like “we’re building” can carry for half a month, but once it turns cold, everyone starts throwing blame at each other—are royalties too high? Are there no new stories? Or is it simply that nobody’s buying anymore.

Recently, the “yield stacking” setup I re-staked got criticized as a pyramid/stacking trap—I look at it and it feels a bit familiar: you pre-consume the future heat, the numbers look good in the short term, but in the long run who’s going to foot the bill… Anyway, when I buy NFTs now, I first check the contract permissions and the trading entry points. If someone sends me a link and it looks off, I’ll call it out—whether it’s hot or not is a separate matter, just don’t hand over your wallet first.