Yesterday, I saw another debate about whether secondary market royalties should be mandatory. My first reaction was: everyone is pretty exhausted. Of course, creators want to continue earning royalties, but traders also fear extra friction, and without liquidity, the作品 become even colder... To put it simply, royalties are like an "ideal tax"; when market sentiment is poor, they feel especially glaring.

Recently, macro discussions have been about expectations of interest rate cuts, the US dollar index, and risk assets rising and falling together. It seems funds prefer to flow into "easier" places. If rules are tightened too much at this point, it might drive away the already limited trading enthusiasm. Anyway, I now pay more attention to who holds long-term on-chain, who flips quickly; the royalty debate is just that—a debate. Ultimately, it depends on whether real demand exists. Sometimes I also chase big addresses incorrectly... Never mind, just observe for now.