Someone asked me if cutting off royalties in the secondary market means creators are doomed. To be honest, I’d rather first observe “who changed the default parameters, who hid the switches even deeper”… They talk about a free market, but their hands are full of permission battles. Royalties are not an inherent tax by nature; they rely on consensus and the execution chain: if the contract is written but not recognized by the trading platform, it’s useless; but if it’s completely ignored, in the end only marketing accounts and projects that rely on connections remain, making it even harder for genuine content creators to survive. Recently, someone compared RWA and US bond yields to on-chain yield products, and I just want to laugh: one side is transparent interest rates, the other is “do you believe I won’t change the rules.” Anyway, when I look at projects now, I first check the governance/permission evidence chain—don’t talk to me about sentimental values, just make it clear who can toggle the switches.