Lately, I've been looking at the "liquidity" of NFTs, and honestly, it's still about whether there's someone to buy at the floor price. The issue of royalties is also quite awkward: if you charge them, buyers complain it's too expensive; if you don't, the community feels the narrative is running out of steam. When it's hot, people tell stories so much that they turn images into faith; when it's cold, all that's left are a bunch of listings glaring at each other... I usually check the blockchain first to see who’s frequently sweeping up and who’s quietly dumping, and that basically tells me whether this wave is "really hot" or just a hard act. By the way, I want to complain that recently retail investors are again criticizing miners/validators for eating MEV and unfair ordering. I can understand—if the trading experience is poor, NFTs, which rely more on emotion, will cool down even faster. Anyway, when I see suddenly popular narratives, I don’t get excited first; I look at who’s pushing them.