These days I keep seeing screenshots of NFT floors being bought and sold back and forth, pretty much like slipping on ice outside a winter cabin... To put it plainly, when liquidity is poor, everyone talks about narratives, but in reality they’re just looking at whether they can sell it or not. The same goes for royalties—when the market is hot, people are willing to pretend they support creators; when it cools down, they start complaining that it “blocks transactions,” and a bunch of ways to bypass royalties pop up. Human nature is just like that.

What’s even more subtle is the community narrative layer. When it’s hot, a phrase like “We are family” can hold up the floor price a bit; when it’s cold, hearing the same words feels a little awkward. Recently, that main chain is about to upgrade/maintain, and people in the group are guessing whether projects will migrate. I think it doesn’t really matter whether they migrate or not; the key is that someone has to take over if they do. No matter how beautiful the story is, without liquidity, it’s like having no firewood in the house. For now, just keep watching less market and reading more books. When things warm up again, I’ll come out and hang out.