Recently, I saw another argument in the secondary market about whether royalties should be paid or not. Basically: creators want stable cash flow, trading platforms want to minimize friction, and buyers feel like I’m already paying in the secondary market, why pay again. On paper, royalties seem like a cost, but in reality, it’s delaying the bill for “who pays for ongoing creation” until the very end, which ultimately turns into a moral debate... I fear this kind of muddled accounting the most.

By the way, modularization and DAO layer storytelling developers are having lively discussions, and it’s normal for users to be confused: no matter how the underlying is split, it all comes down to “where the money comes from, where it goes, and who bears the cost.”

If I could only keep one habit: every time I see an income model, I first ask, “Who is paying this money, and why?”