Lately, I’ve been seeing a bunch of PFPs flying flags of “membership” and “brand.” I’m not really against it—what bothers me is the vibe of selling attention like it’s faith. If it’s meant to last, then you wouldn’t be worried even if you leave the group chat for three days, and you wouldn’t be afraid of missing anything if you don’t have time to scroll through updates. Otherwise it’s just short-term excitement—after the hype is gone, only the avatar remains.

Recently, RWA and yields on U.S. Treasuries, as well as on-chain yield products, have been lumped together for comparison. I’ll look too, but the more I look, the more it feels like this: the returns are just the surface. What’s underneath is who you hand your risk to, and who you choose to trust. PFPs are the same. Put simply, you’re buying “a sense of belonging” in the narrative—not a JPEG.

What I fear most isn’t losing money, it’s losing control—knowing you’re chasing the hot trend and still being unable to stop. For now, let’s keep it like this: less ceremony, more self-control.