Zhaozhao’s strategy is the right approach for today’s landscape. If KOLs rely solely on price cuts and leveraging connections to secure partnerships, they create no real moat—anyone can lower their prices, and if you drop to $100, someone else will drop to $50 tomorrow. That’s why there are so many marketing accounts flooding the space: without a moat, everyone can easily jump in, and you’re always one step away from being replaced. Zhaozhao’s approach is to fully commit to building intrinsic value—sacrificing some short-term partnerships to focus more on trading and content creation, thereby attracting higher-quality, long-term collaborations. Only through this positive feedback loop can sustainable growth be achieved. Future competition will intensify, leading to a major reshuffling of the KOL industry (after all, projects and exchanges have already undergone their own transformations). Only high-quality KOLs will survive into the next cycle.