The first wave of the creator economy started with content writing, with the peak representative being '币乎' (Bihu). The core keyword was '币东' (coin holders), now referred to as content mining. The second wave of the creator economy was NFTs, with the peak representative being 'opensen' (OpenSea). Later, there was a huge debate over royalties, leading to the emergence of royalty-free platforms like Blur. The third wave of the creator economy is the current AI trend. We are in the midst of this wave, and concepts like Moltbook have already emerged. The royalty mechanism is also back in the spotlight. Previously, every blockchain needed a DEX and a DOGE token. Now, under the royalty mechanism, every platform must ignite a 'snowball.'