That royalty issue is flaring up again. Honestly, I don’t feel comfortable taking either side. Creators want to earn a living, buyers want to buy low and sell high, and the platform gets stuck in the middle, taking from both sides—this whole triangular relationship was awkward to begin with.

I think back to the PFPs I chased last year, and looking at them now, it really feels like I paid way too much tuition for the four words “identity.” Member benefits? In Discord, it’s bots and red-envelope pools. Brand collaborations? Does a T-shirt with a logo count? As for the phrase “long-term value,” when people say it, I even feel uneasy myself.

Now when I see new projects talking about “ecosystem” and “co-building,” my first reaction is to check the contract to see if there are any hidden mint permissions. My second reaction is to see how deep the liquidity pools are. As for the “pie” drawn on the roadmap… forget it. I’ll go to sleep first, and check tomorrow whether I’ve been rug-pulled.