These days, watching NFT floor prices has made my eyes sore... It really feels like liquidity is just like the weather, when it's cold, it's cold. Royalties are also quite awkward: if you collect them, the floor gets thinner, and for buyers, considering slippage + fees + royalties, it’s a direct deterrent; if you don’t collect, creators have no motivation to keep the narrative going. Honestly, when the community is hot, everyone can tolerate it, but when it cools down, people start to complain, “Why are you still taking a cut from me?”

Recently, the staking and shared security model has been criticized as a “copycat,” and I think it’s a bit similar to the NFT narrative: the more yields/stories stacked up, the more afraid that the underlying genuine buy volume can’t hold up. Anyway, before I buy now, I first look at the order book distribution and trading depth; if it’s not enough, I just skip it. Don’t get too caught up, because if it’s not smooth enough, it’s really easy to get robbed.