Over the past two days, I’ve seen people talking about NFT liquidity again, and it only just occurred to me to take a look at the floor price… To put it plainly, the floor is really just an emotional thermometer: when it’s hot, a single image can be spun into an epic; when it’s cold, listing bids feel like throwing a message in a bottle into the sea. Royalty issues are also pretty awkward—if you collect them, secondary trading gets even thinner and harder to get volume; if you don’t, creators feel like they’re being forced to generate output out of love, and community narratives can easily end up as nothing but slogans. Haven’t there also been rumors about certain regions raising taxes and tightening compliance lately? I’m usually a half step behind—I just feel that once deposit and withdrawal expectations shift, everyone’s nerve to “buy a JPEG as a belief” shrinks a bit, too. Anyway, I’m still the same as ever: I don’t chase the crowd or join in the hype—I pick the ones where the community is still genuinely talking things through, and I’ll take it slowly.