Over the past two days, I’ve felt a bit of chill in the NFT order book—the floor looks like it’s been frozen solid. Listings are stacked up in layer after layer, but there aren’t many real trades. The whole royalties thing is also pretty awkward. To put it bluntly, everyone wants “cheaper liquidity,” but creators still have to rely on it to keep themselves alive. In the end, it’s only the narrative propping things up: when the community is hot, there’s plenty to talk about; when it cools down, even meme-sharing feels too lazy to bother with. I’ll admit that when I see projects where people got in early, and there are still others picking up the baton now, I feel a little envious—but that envy lasts about two minutes. After all, I’m just too slow… Lately, hardware wallets have been out of stock, and phishing links are flying everywhere. The fewer the liquidity, the easier it is to be tempted by “airdrops.” So, I’ll drink this cup of tea called safety first before anything else.