Turn off the royalty setting toggle in the secondary market, and the creator economy gets exposed: to be blunt, everyone wants the “content dividend,” but no one wants to be the one paying steadily. I’m immune to hot topics but not against the trend itself—let’s look at the data first. When trading volume rises, people praise “liquidity”; when it falls, they start shouting “respect creators.” It’s a bit double-standard, but it’s also true.

Recently, some people have been criticizing on-chain data tools and the tag system for lagging and being easy to mislead, and I agree. Tags are too much like story filters—once you slap them on, it’s easy to get led by the momentum. Anyway, when I look at projects now, I’d rather keep an eye on boring indicators like the ongoing change in independent holders and the proportion of repeat trades than trust a single tag chart to determine the whole picture.

I treat complexity as the enemy: don’t sanctify royalties. They’re just an executable revenue-sharing rule—if it can’t be enforced, then the incentives have to be changed, otherwise all that’s left is sentiment. That’s it for now.