These days, the group has been talking again about stablecoin regulation, reserve audits, and various rumors of "de-pegging," basically saying that emotions are running faster than information. As I read and think, I wonder: are PFP/memberships really about long-term value or short-term attention?

My personal feeling is that PFPs are more like stickers at the door, helping you be recognized and enter the same social circle, but to truly sustain a cycle, it still depends on whether member benefits are "sustainable," such as information disclosure, how budgets are spent, governance decision-making, and even rules around inflation/repurchases being clearly written. Many projects initially build a strong brand, but if operations can't keep up later, it just becomes a story told among secondary market participants... it's quite exhausting.

Anyway, I now prefer to see it as a subscription model: what have you consistently delivered, rather than how good the avatar looks. Feel free to correct me; I’m also slowly filling in the gaps in my comparison table.