Recently, I looked into a few old NFT projects again.

The floor prices still seem to be holding, but liquidity really feels like a convenience store in winter: the lights are on, but not many people, and when you want to leave, waiting in line to check out can make you anxious.
Royalties are also quite delicate; setting them high makes secondary sales less willing to move, while setting them low feels like turning down the community’s faucet, cooling the narrative, and everyone is left with only the action of “waiting for a bag holder.”

Honestly, NFT liquidity is often not about price but about faith—when the community is hot, it’s like hotpot, anything can be cooked; when cold, it turns into overnight porridge, and everyone dislikes it.
By the way, I saw in the group again people arguing about privacy coins, coin mixing, and compliance boundaries.
It feels similar to NFTs: you think you’re talking about technology, but in the end, it turns into a clash of positions.
While the atmosphere is lively, those truly willing to spend money are becoming more cautious.

Right now, I mostly avoid high leverage with NFTs (there’s not much to add anyway), preferring to buy less and think about where to exit first…
Otherwise, whether the floor drops or not doesn’t matter; the key is that you simply can’t sell.
That’s all for now.