Today the rain is a bit heavy, and the traffic on the road made my coffee go cold... I casually looked at the chain again, and once more debated whether to give creators royalties in the secondary market. To be honest, royalties are like a "moral tax"; when the market is good, everyone is willing to show some sentiment, but when the market is bad, people start taking detours to save that friction cost, which ultimately makes liquidity more fragmented.

I myself am now more conservative: I separate the "value of the work itself" from the "trading chips," and prefer to keep positions smaller and more diversified. If I really like something, I treat it as sponsorship + collection, and don't expect to recover emotional value through flipping. Recently, social mining and fan tokens have been quite popular, but the idea of "attention as mining" always sounds good, yet in practice, it just comes down to who can recruit more people... Anyway, I’ll stick to my risk framework—participate a little if you understand it, and ignore it if you don’t.