Recently, I saw a bunch of PFPs claiming to be "membership passes" or "co-creating brands," which basically just amounts to putting a price tag on attention. If you want to create long-term value, don’t rely solely on good-looking avatars and loud group chants; you need to withstand the test of time: what continuous benefits/services do you offer? Otherwise, once the hype fades, the floor price will collapse faster than the emotions.

What's even more amusing is that some projects use on-chain data tool labels to prove "our community is high-quality," but those tools are now criticized for being lagging and can be misleading. Using them as KPIs is like measuring body fat with filters… I now prefer to look at liquidity and transaction paths; at least slippage won't be pretending with you. By the way, a reminder: don’t leverage just for a sense of "membership," because losing a bit doesn’t make you noble.