These days, I’ve come across several NFT projects arguing about royalties again, and honestly: when no one is buying in, royalties are a matter of faith; once it heats up, everyone wants to avoid the friction. The floor price looks like a consensus, but it’s really more about liquidity—if the order wall is thin, even a hot narrative can be easily pierced, and community sentiment quickly shifts from “We’re strong” to “Why is it dropping again?”

Seeing the criticism of the staking/sharing security model as “copycat,” I suddenly think NFTs are quite similar: layering stories, rights, and airdrop expectations on top of each other. When liquidity is good, it’s an accelerator; when cold, it’s a burden, and even royalties become a trigger for disputes.

Next time, I might pay more attention to order book depth and secondary trading distribution rather than just focusing on the floor price… Do you think royalties should be fixed, or would it be more reasonable to let them fluctuate with liquidity/holding periods?