Lately I've been looking at PFPs and various "membership passes," honestly it’s pretty much like brands doing attention business on the blockchain: when it's hot, change your avatar, join a group, everyone feels like family; when it cools down, all that's left are a few images and a bunch of unread announcements. I’ve also slipped up and bought some before, thinking I was making a long-term commitment, but when I sold, I realized I was mostly riding the emotional peak...

What’s even more annoying is that now with AI Agents and automated trading systems coming in, the narrative is hyped up to the sky, but the on-chain interaction permissions are set way too broadly. It feels like some are genuinely focused on security, while others are just betting you won’t check the permissions. It’s obvious at a glance, but it still makes you anxious.

My mom asked me last night, “How much are these avatars really worth?” I could only give her half an answer: either they have real ongoing rights, or… it’s just everyone wanting to have fun together for a while. Anyway, I’m now more focused on capital flow—hype comes and goes quickly.