Lately I’ve been looking at a few blockchain game pools, and the more I look, the more it feels like “gentle carpet pull”: it’s not a one-time slash at you—it’s minting a little more every day, and giving away a little more. The output is higher than the real consumption by a whole chunk, and the result is that selling pressure slowly drains the pool. In the past, I kept saying, “I only look at on-chain,” thinking the data can’t lie; but now I have to admit that emotions can also swing back and change the data—when players panic, they sell first, and on-chain it looks even more like a death spiral.

Put simply, to keep blockchain game economics standing strong, someone has to be willing to spend the tokens back (consumption/recycling); otherwise, relying on fresh buyers is just putting off the problem. Recently, the debate over NFT royalties has been getting quite heated, and it also resembles this: creators want sustainable income, the secondary market wants liquidity, and in the end, everyone ends up counting on “someone else to take more off the table,” which makes it easy for things to go off course. Anyway, nowadays when I look at pools, I’m not only watching the issuance curves—I’m also watching who is continuously in net outflow and who is quietly adding positions… for now, being cautious is always the right call.