Last night before bed, I checked a few old NFT transactions, and I feel like "liquidity" is much more honest than storytelling: the floor looks okay, but the order book depth is thin, and when you want to run, you immediately know who's picking up the bag. The same goes for royalties—during the bull market, everyone talks about supporting creators, but when things cool down, they start looking for ways to avoid royalties. Honestly, it's all about cost sensitivity... I don't really listen to stories about projects anymore; I mainly look at whether transactions are continuous, the bid-ask spread, and whether the community is just left with lotteries and mutual hype. The inflation + studio + coin price spiral in blockchain games has recently been brought up again for criticism. Actually, like NFTs, once the incentive relies solely on "new money," the hype fades quickly. That's all for now. I don't want to push into positions today; I'd rather earn less than see a sudden drawdown explosion.