Recently, I’ve been looking at a few PFP + membership system projects—if you put it plainly, they’re quite like “brand prepaid cards”: are you willing to lock money in up front in exchange for an identity that might be useful in the future? I think the long-term value still comes down to two things: whether the floor can hold steady (not a different story every day), and whether the order-book wall is always being taken over by someone; otherwise, once the hype fades, you’re left with nothing but nice-looking avatars.

This airdrop season makes it even more obvious. A points-based system turns the “freebie” crowd into something like showing up for work to clock in. And the stricter the anti-sybil measures on the task platform are, the more they push projects to make “who you are” real. But many membership perks are really just short-term attention: some whitelist spots, collaborations, offline tickets… they’re great that week, but you forget them next month. In any case, I’m more focused on my holding structure and liquidity right now—plus aesthetic bonuses—but not something to worship as a belief.