Recently, when looking at NFT liquidity, it really feels like checking the temperature of the floor price: once no one is buying at the floor, no matter how hot the narrative is, it can cool down very quickly. The issue of royalties is also quite awkward; frankly, it’s about whether people are willing to keep the creator alive. When the market is bad, everyone starts to avoid royalties. In the short term, it saves some money, but the community will lack content and maintenance later, and in the end, it still results in worse liquidity.

Now I don’t dare to look at projects only through the floor price and hype anymore. Instead, I check trading depth, order book layers, and whether it might get stuck when exiting… Anyway, I first write down whether it can actually be sold. By the way, I want to complain that recently, L2s are arguing over TPS, fees, and subsidies like crazy, but for NFTs, no matter how fast the chain is, it can’t save the cold market where no one is buying. The excitement is there, but accepting the loss is the reality.