There was a lot of fun to watch early in the morning; the problems with ApeCoin DAO are clear even to an outsider like me, and it wasn't until halfway through 2025 that they thought about making corrections. I read a report a long time ago about someone who fabricated a proposal and scammed a lot of money from ApeCoin DAO, bought a sports car, didn't do anything related to the proposal, and then returned the remaining money. It's absurd, but it really happened, and I've even heard that some people are organized in scamming money from the DAO. The development history of BAYC is quite lamentable; it initially showed the momentum and vibe of becoming a new era fashion brand, but that was later extinguished. It's hard to say whether it's related to this DAO. At least from my perspective, when they were at their peak, they kept pushing their community to create various peripheral products. Maybe the team got complacent, or maybe they were poisoned by the narratives of "decentralized community-driven" and "metaverse" at that time. Professional matters should still be handled by professionals. In my view, successful DAOs, or at least those that are operating normally, are all driven by people with professional capabilities participating in decision-making. It's hard to say whether their future endeavors in gaming are correct because both gaming and IP creation are like placing bets; if you hit the jackpot, you soar, but if you miss, you fade into obscurity. However, the commonality is that both are very challenging, especially when targeting the Web3 audience with consumer projects. There's a saying in economics that "people's expectations of future income affect their purchasing power," meaning that if people believe their future income is stable and will increase, they will start buying now. In a consumer context, this applies, but in the Web3 context, expectations of future income come from the NFTs/coins they purchase, turning consumption motivation into investment motivation, which naturally becomes very twisted and difficult to manage.