Recently browsing PFPs makes me a bit amused: everyone is talking about "membership benefits" and "long-term branding," but when the market softens, the first question in the group is still "what's wrong with the floor." I increasingly feel that being a bit slower is quite important; waiting half a beat before acting can at least help you distinguish whether you're buying into a long-term narrative or just short-term attention.

The debate over royalties is heated; honestly, creators want to make a living, and secondary sales also need liquidity, but in the end, it's usually the holders caught in the middle. My simple approach: you can pick up near the floor, but don't go all-in; if you really treat it as a membership card, just see it as paying for a service/community, and don't expect it to counter your emotions. Anyway, the market doesn't owe anyone "faith."