These past two days, I’ve been closely watching NFT liquidity—it really stands out. If the floor price cools off, everyone on the mouth talks about “faith,” but in their hands they still place orders first to smash through slippage… Royalty behavior is the same: when things are hot, everyone is willing to “support creators,” but once it cools down, they start picking markets and routing around them. To put it plainly, community narratives can keep things warm, but they can’t ensure actual trades.

It feels a lot like that recent backlash against the “yield stacking” re-staking setup—the moment the story stops being carried forward, what’s left is just who can run faster.

Anyway, I’ll revoke the authorization for a few of my older NFTs first, just to make sure no weird contracts pop up later.