Recently, I looked at a few old NFT floor prices again, and honestly, they are like a "liquidity sentiment thermometer": when the narrative is cold, listings are as decisive as kicking someone out of the group; when the narrative is hot, even if there’s nothing new, people are willing to hold on a little longer. The royalty situation is even more awkward, wanting to support creators but also afraid of becoming the final liquidity sink… Anyway, when the market stops caring about sentiment, royalties become an optional item.

If at that time the royalty mechanism had been more like “dividends following trading activity” (I don’t know how to implement that either), maybe there would be fewer fights? Now it’s a bit like testnet points, giving you some expectations first, and everyone starts guessing “Will the mainnet issue tokens,” NFTs are the same, first tell a complete story, and the floor price can be supported a little. Structurally, it looks quite harsh: liquidity only recognizes certainty, community narratives only recognize consensus, and if the two are misaligned, they fall apart. Let’s leave it at that.