Just now, my phone popped up a red dot again, saying that a certain platform has "optimized" the secondary NFT royalty... I clicked in and saw the same old story: when a transaction happens, they start talking about creators, and when the market is bad, they begin calculating costs. To put it plainly, if royalties rely solely on self-discipline, during a bull market, everyone can pretend to be civilized; but when risk appetite drops and liquidity tightens, everyone immediately only cares about slippage and fees.

Recently, the wave of AI Agents and automated trading also seems quite similar: the narrative is hyped up a lot, but when it comes to on-chain interactions, no one is willing to pay much attention to security details. Anyway, my current thought is that creators shouldn't treat royalties as an "obvious cash flow," but rather as a pricing power gradually gained through products, communities, and rights; the market shouldn't pretend to have morality either—ultimately, macro rhythms decide who can set the rules. That's all for now.