Recently, I've been looking at NFT liquidity again, and I feel like the floor price is often just a "mood thermometer." When it's hot, everyone says the community narrative is stable and culture needs to be passed down; when it cools down, the sell orders pile up like leftovers stuffed in the fridge, and you can't get rid of them. The issue with royalties is even more awkward. To be honest, if secondary trading has no volume, then no matter how elegant the royalties are, they are just numbers; but if you cut royalties too harshly, creators have no motivation to continue producing content, and the narrative cools even more.

These days, people in the group keep talking about token unlock calendars causing selling pressure and anxiety. I think NFT is pretty much the same: it's not about unlocking, but about "unlocking the mood." Once a wave of people relax their mindset, they start attacking the floor price with each other. Anyway, I'm just someone who likes to find faults. Seeing statements like "liquidity depends on consensus," I want to ask: can't the consensus first be about the buy-side consensus... for now, I'll keep observing.