Looking at NFT liquidity, I now more resemble watching a succulent cross-section: the outer narrative is hot, but if the water transport tissues inside (floor depth, order density) are blocked, it's all pointless. The floor price is actually quite “fragile,” when buy orders are thin, a big order can carve out a pit, and then everyone starts filling the hole with “community consensus”… Basically, emotions are being used as liquidity.

I'm also conflicted about royalties: setting them too high makes transactions rarer; not setting them at all, and it easily turns into pure floor speculation, making it hard to retain serious participants.
And when I see the stacking of yields from re-staking/shared security being criticized as “copycat,” I actually resonate a bit: NFT projects also love stacking stories and utility, but in the end, whether you can exit and who bears the costs are the real issues.
Anyway, I don’t really trust hype when looking at the market now; I focus on whether I can sell normally first, then talk about sentiment.