Recently, I've seen a bunch of PFP + membership narratives again, basically treating avatars as tickets. Of course, tickets are useful, especially when the community is hot—joining groups, getting whitelists, and partying together is very convenient. But I increasingly feel that the long-term value isn't in the "who you are" avatar, but in whether you can continuously provide something—content, products, offline relationships—all of which matter. Otherwise, once the hype fades, you're left with just a picture.

These days, that mainstream public chain is about to upgrade/maintain, and the group has started guessing whether the ecosystem will migrate collectively. I see it as quite like an emotional vortex: the more people discuss "whether to move," the more they seem to be leveraging attention. Brands, on the other hand, are slower; only those that can withstand a downtime, a fork, or a change in sentiment truly have some foundation. Anyway, right now, when I see "membership benefits," I first ask myself: if there's no hype, would I still be willing to keep it?