Over the past two days, I’ve been rotating through NFT projects—once the floor price shakes, the story in the group immediately shifts from “cultural consensus” to “you hold the line first while I run first”… to put it plainly, liquidity is only that little bit. When the market’s hot, everyone thinks royalties are the artist’s dignity; when it’s cold, everyone’s first reaction is to kill royalties and use aggregators to save that breath. The project teams are still up there telling stories—I’m listening—but what I care about more is how their wallets move: whether the buybacks are staged, and whether the funds just loop around and come back. And those on-chain data tools/tag systems—people complain about their lag, and I really feel it: the moment a tag gets applied, the sentiment follows, but the outcome may just be misleading. Anyway, what I’ve learned isn’t techniques; it’s this—don’t trust “narrative” too much. First, make sure you clearly understand the money and the permissions.