Recently, I've seen a bunch of PFP projects change their tune and call themselves "membership systems" or "brand assets," which sounds very familiar: first selling profile pictures as tickets, then once the hype dies down, starting to talk about long-term narratives. Frankly, if members only end up with a different chat group title in the end, it's just like buying a limited-edition sticker; whether it's truly useful depends on whether the benefits can be stored in your wallet, whether they can be governance-bound, rather than relying on operations to hype everyone up every day.

What's even funnier is that on-chain miners/validators are making a killing, MEV and fair ordering are being yelled at by retail investors, and you're still expecting everyone to have patience for "long-term brand value"? Attention has already been worn down by slippage and front-running. Anyway, when I vote on proposals, I only focus on three things: where the money comes from, who gets it, and who has the final say... don’t just brush it off with the words "community co-creation."