Just finished a round of NFT browsing, and I really feel that liquidity is quite a real issue: the floor price looks stable, but it's actually just a few people holding without moving, and when someone wants to sell, the price drops sharply. Royalties are even more awkward; when the market is hot, everyone shouts "support creators," but when it cools down, they start looking for ways around the resale royalties. Honestly, everyone just wants to save that little bit of friction. The community narratives are the same; when it's hot, anything can be talked about, but when it's cold, people are too lazy to even chat in the same group.

Some people also complain that on-chain data tools and tagging systems are lagging or easily manipulated, and I believe it... Many times, when I see the "smart money" label, my first reaction isn't to follow, but to ask myself: if I lose on this trade, can I cut my losses according to the rules? Anyway, right now I only see two rules for NFTs: avoid those with very thin liquidity, and if I really want to buy, do it in batches within my budget—don't let emotions turn you into a trader.