On my way to work, I saw a bunch of PFPs and more talk about upgrading membership benefits. To put it plainly, it’s selling “a sense of belonging + tickets.” I’m not against it—brands are built on repetition and repeated exposure—but long-term value really isn’t something you get just by swapping your avatar frame. What matters is execution: can the benefits actually land on-chain, are the rules stable, and is the cost of exiting not too shady.

Recently, retail investors have been complaining about MEV and unfair ordering, and they also drag up miner/validator income to criticize… I want to laugh, but I can’t: on the one hand you want “member priority,” and on the other you hope transactions don’t get cut in line—these two will clash sooner or later on the same ordering track.

What I care about more is the infrastructure side: matching/packing delays, slippage at execution, and whether it has a dark-pool kind of vibe. PFPs can act like doorplates, but if the hallway behind the door keeps wobbling, no matter how big the brand is, people won’t stay. Anyway, I’ll judge execution quality first before talking about feelings.