I had fun watching it early in the morning, and I could clearly see the problems of ApeCoin DAO, but I didn't remember to rectify it until halfway through 2025. I read a report a long time ago that a person made up a proposal, cheated out a lot of money from ApeCoin DAO, bought a sports car himself, did nothing about the proposal, and then returned the remaining money. It's ridiculous, but it happens, and I've heard of people even systematically scamming people out of DAOs. The development process of BAYC is quite embarrassing, initially showing the momentum and vibe of becoming a trendy brand in the new era, but it was later erased, and it is difficult to say whether it has anything to do with this DAO. At least in my opinion, when the momentum was strong, they were constantly pushing their own communities to make various peripheral products, perhaps because the team was lying flat, or perhaps they were poisoned by the narratives of "decentralised community-driven" and "metaverse" at the time. In my opinion, DAOs that are considered successful now, or at least functioning normally, are also made by people with professional capabilities. It is not easy to say whether it is correct for them to continue to make games in the future, because making games and making IP are both bets. However, the similarity is that it is very difficult, especially for Web3 people to do consumer projects. There is a saying in economics that "people's expectations of future income will affect consumption power", which means that if they feel that their future income will be stable and will increase, they will start buying and buying now. In the consumption scenario, this is the case, but in the Web3 scenario, the expectation of future income comes from the NFT/coin you purchased, and the consumption motivation becomes the investment motivation, which will naturally be very twisted and very difficult to do.