Lately, the liquidity of NFTs feels pretty mystical. When the floor heats up, everyone turns “narrative” into fuel; when it cools down, all that’s left is listings staring each other down. Royalties are even more awkward—basically, when the market gets anxious, it wants to save that little fee, while creators rely on it to keep going. In the end, it becomes a mutual understanding where no one’s comfortable, but everyone just grits their teeth… these days I mostly only dare to treat the secondary market as a barometer of sentiment. If I really want to make a move, I’ll think through a fallback first—don’t lock yourself into a single JPEG.

Yesterday, a colleague even complained that hardware wallets are out of stock—then, without missing a beat, someone in the group clicked a phishing link for an “airdrop query.” Honestly, it’s surreal. Either way, lately I’d rather spend time on things tied to cash flow: with NFTs, you either tell stories until people are willing to take over, or you just wait honestly for liquidity to come back—don’t let Fomo drive you.