Lately I’ve been looking at NFT liquidity, and the more I look, the more it feels like I’m watching the “emotional water level.” Floor price is basically the laziest consensus: when people don’t want to tell stories anymore, they just stare at that line; when the story is hot, royalties can be tolerated, but when it’s cold, they start doing the math—set royalties to zero, and all kinds of roundabout trades.

As for this whole “community narrative” thing—put simply, it’s just that someone keeps being willing to take the conversation forward; otherwise, even the best images are only static assets. Forget the fancy talk: you’re buying a continuation of “willingness to take the hit,” not that JPG.

By the way, recently hardware wallets have been out of stock, and phishing links are everywhere. It feels like everyone is complaining about the hassle while finally taking life-and-safety seriously… Whenever I see “sign to claim an airdrop,” I just manually close my eyes and exit. I’d rather miss out on risk than keep getting “educated.”