In the past few days, I've seen the secondary market flip the royalty switch back and forth, and I'm actually quite conflicted. On the creator side, royalties do seem like the last straw for "ongoing income"; on the trading side, mandatory royalties can thin out liquidity, and in the end, no one trades, and creators get nothing. To put it simply, royalties are not a moral issue, but a mechanism issue: who you want to make pay, and how costs are distributed.

I'm currently leaning more conservative: I prefer to incorporate expected income into primary pricing/membership rights, treating secondary royalties as "if they exist, they exist; if not, no big deal." Especially lately, with attention shifts driven by memes and celebrity shoutouts happening too quickly, newcomers are most likely to catch the last baton... It's lively, but don't mistake "good market" for "sustainable model." Anyway, when I look at projects now, I first ask where the risk boundary is, then look at the yield and the story.