What I regret isn’t the outcome, but the fact that even though I clearly knew the whole logic of wash trading and KOL shilling, I still couldn’t resist a round of “narrative upgrade” NFTs. The floor price is down by nearly 70%; setting royalties to 0 also doesn’t work, and not setting them doesn’t get anyone to buy either. The community hypes “Alpha” every day, but in the end it’s just a few old bagholders propping things up in the group chat.

To be honest, NFT liquidity is poor—not basically because the floor price is low, but because everyone knows in their hearts: most projects only have a few people pumping the trading volume. Just look at the recent new L1/L2 incentives—old users mine, then sell. At the end of the day, it’s still just betting on short-term returns. No wonder the community can’t keep the people worth keeping.

Anyway, I’ve learned my lesson now. I’ll first check the source of this NFT project’s “price feeding” and its update frequency. If even the basic liquidity isn’t clear, I won’t chase whatever narrative is being hyped. Oh, and those who shout “when the floor breaks, buy the dip”—they’re probably the ones themselves acting as the market makers.