Recently, I saw a bunch of PFPs and membership cards claiming to be "brand assets" and telling stories. Honestly, I find it quite slow-minded... To put it plainly, long-term value isn't about how good your avatar looks, but whether you're willing to keep delivering to the same group of people: content, rights, offline/online relationships, even if it's boring but stable. Looking at on-chain data for a long time is like observing the climate; after the lively gust passes, only those who can stay will be known.

These days, everyone is using ETF capital flows and US stock risk appetite to explain all the ups and downs. I also look at it, but the more I watch, the more I feel: when attention is first drawn, PFPs are easily seen as "market skins," not the backbone of the community. Yesterday, I only spent 12 yuan to buy a small membership to try it out, planning to wait a week to see if there are continuous updates... Anyway, don't rush to mistake short-term attention for brand accumulation.