Lately, NFT liquidity has been really awkward. When the floor price drops, everyone talks about "faith" and "narrative," but in reality, they’re just placing orders to run first—no one wants to be the last one holding the bag. Royalties are the same; when the market is hot, they say it’s too expensive, and when it cools down, they say "Without royalties, the community can’t survive," basically just looking at trading volume to judge.

What’s even more amusing is community narratives—when it’s hot, it’s all about co-creation, consensus, and cultural assets; when it cools, it’s just about comforting each other in the group and sharing old memes. I also don’t pretend to be blind to TVL; when TVL rises, I call it fake, and when NFT floors drop, I start calling it real. I talk tough, but my eyes are pretty honest.

By the way, I see Layer 2 still arguing over TPS, fees, and subsidies, making noise like a marketplace. On-chain, it’s faster and cheaper, but for NFTs, “being able to sell” is the core need—everything else is just side dishes. That’s it for now. I’ll go see if there are any new protocols that might tempt me to try my luck.