Recently, I looked at the floor prices of a few more NFTs again, and I really don’t think it’s something you can just copy because it’s “cheap.” Once liquidity cools off, it may look like there are a lot of open orders, but in reality, the moment you touch it, the slippage becomes so huge that it makes you question life itself. Royalties are more like a thermometer: everyone says they support creators, but the instant a trade actually happens, they all want to pay the lowest fee. To put it plainly, when the narrative is hot, royalties feel more like something “voluntary”; when things are cold, they turn into a burden.

When I look at NFTs now, I’m not so much focused on how fiery the story is—I care more about a few “signals”: whether there are continuous real trades right around the floor, whether deposits and withdrawals are stuck, and how close the positions in the lending pool that hold NFTs as collateral are to the liquidation line… once a chain reaction of liquidations starts, no amount of community talk can save the liquidity.

Oh, by the way, after and before that recent main chain upgrade/maintenance, the group has also been speculating about whether the ecosystem will migrate. I think whether it migrates or not can be put aside for now; first, check whether funds are withdrawn early and whether open orders have thinned out. These “signals” are way more reliable than all the talk. Anyway, I’d rather earn a little less now than experience “leverage education” again.