Recently, I’ve been seeing the secondary market arguing about royalties. To put it simply, everyone wants liquidity—but creators also need to eat. Once royalties are made “mandatory,” though, buyers start doing the math: with greater friction in future resales, they just won’t buy. If royalties are made “voluntary,” it’s easy for it to turn into moral coercion, and in the end it still comes down to who has thicker skin. It’s pretty much like the same playbook as new L1/L2 networks rolling out incentive schemes to pull TVL—veteran users complain that “mine-and-sell” is actually just this: when the rules change, trust shatters very fast.

What I care about more right now is whether expectations can stay stable: tell me how royalties are collected, when they’ll change, and how changes will be compensated. Don’t call for “co-building” today and then, tomorrow, reset everything to zero with a single click. Price charts really are like psychological tests; NFTs are even more so. When emotions crash, all “principles” turn into slippage. Take a look next