Recently, the secondary market has been treating royalties like an "option," and creators are in a pretty awkward position: frankly, you're encouraging continuous output, but all the income depends on voluntary tips... I don't know how long this model can last. Buyers obviously want to save costs; after all, with gas fees, transaction fees, and slippage stacking up per trade, their mindset easily shifts to "save whenever possible." But once royalties disappear, project teams can only work harder on whitelistings, airdrops, and collaborations—anyway, the more tricks they have, the more it seems like they're overextending attention.

What's even more interesting is that now everyone is comparing RWA (Real-World Assets) and even U.S. Treasury yields to on-chain yield products, feeling like the market is searching for "more certain things." As a result, creator economy projects, which are more emotion-driven and community-oriented, are more likely to be dismissed as "unstable." Personally, I prefer to do less and observe more; if I really like a work, I just support it, and if I don't, I won't force it—losing money is just tuition... That's all for now.