Lately, watching the floor prices of NFTs really feels a bit like taking a temperature: when it's hot, a bunch of people shout about narratives; when it cools down, only the most practical questions remain, like "Can I sell it immediately?"

Royalty issues are also quite subtle. To be honest, everyone wants liquidity, but without continuous returns to creators/communities, the story eventually runs out; but if royalties are rigid, the floor price becomes even harder to move, and it ends up with everyone stuck in a deadlock.
Just around the time when the main public chain is upgrading/maintaining, the group is guessing whether they'll migrate, and when emotions run high, the floor price might shake a bit.
But what I care more about is: whether they migrate or not is just changing the venue. If the community consensus isn't maintained, switching locations won't help and it'll still be cold.
Anyway, I'm just slowly watching from the sidelines now, less chasing the hype, more observing who is still actively working.