I just closed the floor page of a certain NFT, feeling annoyed… Liquidity really seems to be tied to emotions: when the narrative is hot, royalties are seen by everyone as “support for creators”; when it cools down, people immediately start avoiding royalties, with order book depth as thin as paper, and transactions rely on a few big players moving back and forth. Honestly, the floor isn’t about price; it’s a thermometer for “how many people are still willing to take the risk.”

Recently, a bunch of testnet incentives and token expectations are flying around, and everyone in the group keeps asking whether the mainnet will issue tokens. I won’t say much about others, but I also get the itch to try a few trades myself. But after watching it for a while, I realize: when hype comes, the “community story” of NFTs gets boosted along with it; when hype fades, what’s left are the honest on-chain data—order gaps, longer transaction intervals. Anyway, I’m more interested now in who’s willing to buy at what time, rather than those slogans. That’s all for now.