Just caught wind that yet another platform has adjusted royalties, and honestly, my heart skipped a beat. After all, I used to stock up on a few creators’ tokens—looking at it like this now, those little royalty earnings from the secondary market really feel like Schrödinger’s cat: the protocol supports it when it says it supports it, and it doesn’t when it says it doesn’t.

Actually, if I calm down and think about it, creators living off royalties is kind of inherently awkward. When liquidity is good, people are willing to pay—but once a bear market hits, who’s still going to care whether you’re truly original?

Lately, I keep seeing people compare RWA and on-chain yield products, saying “Treasury yields are stable,” so why not have creators just issue bonds directly instead? I think that logic is pretty interesting: turning creative value into pledgeable cash flows might be more reliable than royalties.

Anyway, I’m just mentally exhausted right now. I’ll lie low and observe for a while, then wait for the next hype cycle before jumping back in.