Lately, the secondary market has been debating whether royalties should be mandatory. To be honest, I understand that buyers find it expensive, but I also understand the frustration creators feel after being "free-ridden" for so long. Just appealing to morality doesn't work; when the market loosens up, money will flow to the lowest-cost areas—after all, everyone is very honest.

What I worry more about is that the creator economy is being distorted by "social mining/fan token" schemes. Is attention really mining…? I haven't figured it out either, but the result I see is: attention comes quickly and leaves just as fast. In the end, what remains are works/tools/continuous delivery, not daily rankings.

From a market-making perspective, royalties are like a layer of friction cost. If too high, liquidity will be driven away; if too low, it can't sustain the supply side. Maybe we need a different approach, such as splitting royalties into optional rights or making pricing more transparent at the minting stage. My current position is relatively conservative—I prefer to participate less in the hype.