Recently, I've been looking at a bunch of PFPs for membership and brand collaborations, to put it simply, there's one main question: Are you buying a "ticket to join the group," or "a profile picture that makes others assume you have something"? My lazy way of judging is to not listen to the story first, but to look on-chain: who is the NFT transferring from and to, whether it's the same handful of addresses bouncing back and forth, and whether the holder seems more like a fan or an inventory manager... If after the hype dies down, only the floor price remains, then even if you spend more on membership benefits, it feels like temporary work.

That wave of copyright war also feels quite real: creators want to make a living, secondary markets want liquidity, and in the middle are ordinary people—buying to support, selling and complaining about fees. Anyway, I now care more about "ongoing usage/sharing/participation" rather than "promises of giving you a lot later." That's all for now.