These days, there’s been a lot of arguing about royalties in the secondary market. To be blunt, everyone just wants “better liquidity,” but creators’ little bit of meal money isn’t imaginary air. I used to pick sides, but then I realized I was treating complexity as an enemy: do as little as possible, and if the rules are unclear, don’t go imagining you’ll get long-term incentives. New L1/L2 projects hype incentives to pull TVL, and old users complain about “mine it, then sell it”—the taste is way too familiar. The creator economy is the same: when things are hot, everyone talks about co-building; when they cool down, they start settling accounts. In any case, when I buy something now, I ask myself first: do I really like it, or am I just trying to be the smart person taking the next turn… most likely the latter, so I hold back a bit.

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