I've recently been watching NFT liquidity so closely that it's starting to get annoying: the floor price looks stable, but in reality, transactions are so thin they're like paper, with a bunch of listings, and when you actually want to sell, everyone starts undercutting each other. Royalties are even more realistic—frankly, if you set royalties to the maximum, you're short-term pushing liquidity away; but if you turn them off completely, the community narrative can easily cool down, and creators have no motivation to keep storytelling going. On-chain, I see very clearly: when it's hot, turnove