A few days ago, I looked at some old NFT listings again, and the floor looked pretty lively, but in reality, the liquidity was frighteningly thin, and they were just sitting there like decorations... Royalties are even more awkward; everyone talks about supporting creators, but when a sale happens, they start looking for ways around the royalty payments. Honestly, it all depends on whether someone continues the narrative.

Once I saw a new series suddenly flood the market to push the floor price, and there was a transfer logic in the contract I didn’t understand (maybe it’s harmless, but I felt uneasy at the time). The group was also arguing whether this was a reversal—at that time, the spot/derivative funding rates were extreme, and the mood was very tense. I just didn’t do anything, quietly noting down the contract address. Later, the hype died down, the floor remained, and everyone disappeared... Anyway, I now have one principle: if I don’t understand it, I won’t act. Better to miss out than be the last link in the liquidity chain.