I just spent half a day digging through on-chain data, and it feels like there’s been no shortage of stories lately—but there are also plenty of landmines. The NFT royalty drama, if you strip it down, is basically creators trying to maintain their income, while the secondary market complains that the liquidity isn’t enough. Both sides have their reasons, but neither can convince the other.

In the attention economy, the hotspots rotate even faster than you can flip through a book—one new narrative after another comes in. If you chase every single one, chances are you’ll end up getting farmed over and over again. Personally, I think instead of obsessing over the hype, it’s better to look and see whether there’s a coherent on-chain execution logic behind the narrative. For example, is the project team really maintaining the community, or are they just dropping a whitepaper and running?

It’s exhausting—no doubt. But think about it: on-chain data doesn’t lie, and liquidity is the hard truth. In the end, after all the arguing about royalties, it still comes back to whether the market is actually willing to pay for the creativity. That’s it for now—I’m going back to keep an eye on the charts.