To be honest, I used to think that stuff like PFPs and membership cards was just a short-term attention-grab—follow the trend for a bit and then it cools off. But lately I’ve been looking at a few L2s that are really going at these things, competing on TPS and subsidies—and somehow it feels more interesting. If a brand narrative can be tied to technical upgrades—like membership eligibility unlocking on-chain governance or early fork testing—then long-term value might not actually be worse than short-term hype. Anyway, I’d rather hoard membership perks with real utility than just profile pictures.