Recently checked out a few NFT projects, and the floor price is like a thermometer—once it cools down, everyone starts calculating "whether I can sell at any time." But if we’re talking about liquidity, it really depends on whether people are willing to buy in and whether the royalties still matter... Some markets shut down royalties, and while it’s lively in the short term, the community narrative actually becomes colder, and creators get lazy about updating.

I actually don’t oppose incentives; after all, new L1/L2 projects also play this game to pull in TVL. But it’s true that long-time users complain that "mining and selling" isn’t without reason: liquidity comes quickly and leaves just as fast. Honestly, NFT projects rely more on emotion to survive—if the narrative breaks, the floor price drops first. Anyway, I now focus on project royalty rules and signature authorization; in the end, the most expensive thing isn’t the floor, but security. The "thermometer" I mentioned earlier... hmm, today it’s dropped a bit again, so I’ll leave it at that.