Recently, I've seen a bunch of PFP/member cards talking about "brand storytelling," which basically means turning attention into a ticket for sale. In the short term, of course, it's effective; everyone wants an avatar or a group identity. But whether it's valuable in the long run depends on whether it can continue to give you a "reason to use" after the hype dies down, otherwise it's just like limited-time skins.

These days, whenever there's movement in ETF capital flows, the outside world links the risk appetite of the US stock market with crypto price swings into a single explanatory chain. I find it a bit amusing: the narrative map is drawn very smoothly, but when you actually spend money, you're often buying emotion, not logic.

Right now, I keep a "backup": one for the narrative (sense of participation), and one for the facts (on-chain/delivery/cash flow). When the hype collapses, at least there's something to compare against… otherwise, it's easy to get carried away and forget what you actually bought. That's all for now.