The third time I've seen people arguing fiercely over whether secondary market royalties should be mandatory or not. Honestly, everyone is short on money and afraid of taking the blame. On the creator side, if liquidity is poor, no one will buy; on the trading side, it’s just about pumping volume and short-term gains, and the works become just stickers. More realistically: once royalties become an "optional" feature, the market will vote with its feet, making creators' cash flow even less stable, and they may be forced to pursue more aggressive pre-sales/funding, increasing the overall risk.

Recently, I’ve seen comparisons between RWA, U.S. bond yields, and on-chain revenue products, and it’s making me a bit uneasy: when everyone starts chasing "certainty of returns," it indicates risk appetite is shrinking, and non-essential consumption in NFTs is more likely to be drained first. Anyway, when I look at projects now, I first ask: how do you survive without royalties? What supports sales with royalties? If you can’t answer, then don’t get involved yet—survive first, then talk about ideals.