Recently, people have been talking again about PFPs, memberships, and whether a “brand” is “long-term value.” I look at it and can’t help but want to laugh: others think that buying an avatar is the same as buying a lifetime pass to a club, but in many cases it’s actually just buying a few days of attention. Once the hype dies down, everyone can’t be bothered to even click to see who you are.

Even more ridiculous is this: on-chain, a large transfer, or a hot/cold wallet move on an exchange, gets interpreted as “smart money is laying the groundwork,” and then the PFP floor price follows the performance… To be blunt, I’ll flirt with this narrative, but I’ll never marry it. If you truly want something long-term, it depends on whether you can keep people willing to stay—not on tricking them into it with a single “wallet movement.” Anyway, I’m going to step back for now.