Lately, watching NFT liquidity is really like observing the changing tides of human relationships: when the floor drops, the narrative in the group immediately shifts from "family members" to "going with the flow"; the issue of royalties is even more amusing—everyone was shouting for creators to be respected during the bull market, but as soon as the market turns, they start figuring out how to bypass it... Basically, when liquidity is tight, faith is the first thing to be used as collateral.

The collapse script for blockchain games is pretty much the same—inflation + studio entry, and then it’s just a matter of how the coin price spirals downward; no matter how hot the community narrative gets, it can’t hide the reality. Anyway, I’ve now set my goals smaller: instead of hoping for a turnaround, I focus on gas cycles and some strange on-chain signals for small back-and-forths, which surprisingly helps me stick around... Maybe being blunt is really my risk control.