Recently I took a look at the floor prices of a few blue-chip NFTs, and compared to this time last year, it’s basically two different worlds. The royalty rate has dropped from 5% to 0.5%, and no one seems to be making a fuss about it anymore. In the community, fewer people are calling for “co-building,” while there are more people placing orders and listing items. Put plainly, liquidity is flowing toward the exchanges, and the NFT side is getting cold a bit too quickly.

The one thing I don’t regret is clearing out a few NFTs I wasn’t familiar with a few months ago. Even if the floor price later jumped for a round, at least I avoided the kind of sell-pressure anxiety that comes with the unlocks now. After all, when you look at what the on-chain data is showing, you can just flip through the unlock calendar—anyone’s stomach drops. But when it comes to market making, patience matters more than judgment. For now, I’ll leave it at that.