Recently, looking at NFT liquidity, it increasingly resembles a torn net: the floor price is the most intuitive anchor, but if the anchor is too light, it will drift; what about royalties? Basically, they tie creators and the secondary market together, but once everyone only focuses on "whether it can be sold instantly," that line can easily be cut. Community narratives are even more mysterious; when hot, a single phrase can lift the entire floor, but when cooled down, even transaction records seem empty, like walls after an exhibition is taken down.

These days, the group is arguing over privacy coins, coin mixing, and compliance boundaries, which is also a kind of tearing: some just want "free tools," while others only want the certainty of "being able to enter and exit safely." NFT is actually quite similar; are people buying a story, or are they buying a position they can sell at any time... I haven't figured it out yet either.