In the past few days, I've seen people again analyzing on-chain large transfers and hot/cold wallet movements on exchanges, saying "smart money is coming/going." Basically, a lot of the time it's just attention looking for an exit. The PFP and membership models are similar—they can ignite emotions in the short term, but to truly become a brand, it still depends on continuous delivery and cultural accumulation. Changing an avatar or issuing a pass isn't enough.

I personally don't follow this hype very much; instead, I prefer to wait until the noise dies down to see: how many people are really using, talking, and contributing. My regret isn't the outcome, but that I was pushed by "everyone else is doing it" and didn't take my time to go at my own pace. Anyway, I’ll just keep working on building positions—when it comes to infrastructure and the broader market, at least I don’t have to worry about daily avatar color anxiety.