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NFTS, meet the Labubu – your worst enemy.
The possibility of Crypto has long led artists to dream of creating characters who are universally loved and also earn a lot of money.
It is not an impossible fantasy. It is the core of almost all NFT collections, and whatever the makers say about their mission to build community, money is the bottom line.
The blueprint for obsession exists al-look at Pokémon, my little pony, yu-gi-oh!, Beanie Babies. People have proven that they are willing to spend too much money and too much time to collect many versions of cute little things. That is a fact.
And yet, in essence, all NFT collections have failed in creating permanent public interest in their version of ‘Cute Little Things’, perhaps with the exception of Pudgy Penguins and their Walmart cuddles.
But they are clearly not labubus.
It is so humiliating to see that a completely non-blockchain, non-nft, non-Crypto collectible does what NFT collections have been trying to do for years, essentially at night.
Labubus, sinistere maar schattige kleine monsters, zijn gemaakt door Hong Kong-Belgiaanse kunstenaar Kasing Lung in 2015. Ze werden pas het fenomeen dat ze vandaag zijn nadat samenwerkte met ToMaker Pop Mart voor massadistributie voor massadistributie in 2019. Blackpink’s Lisa (aantoonbaar een van ‘s werelds grootste popstars) die een labubu op haar portemonnee in april 2024 geen pijn had done.
Tweet drawing ..
What makes it such a smile for me, an NFT -Skeptician, is that beloved global phenomenon Labubus, physical hugs, can attribute their success to accidentally following the NFT “Guide to Success” that is so miserable with “digital” plushies.
What is that guide? Rarity, exclusivity, community.
Labubus often comes in ‘blind boxes’, which means it is a nonsense what your Labubu will look like. As Psychology Today writes,
“This uncertainty is no different than a gambling machine that connects to the reward circuits of our brains. A limited edition of ‘secret’ Labubus can cause joy, and even an obsession. Then collecting is more than acquisition; it becomes a ritual, a source of community and possibly a point of pride.”
This sounds like the ‘About’ section on the website of every failed NFT collection, immediately after they have explained their rare attributes, surprising coin schedules and a link to their community discord.
More celebrities Except Lisa are more recently seen with a Labubu accessory – Rihanna, Kim Kardashian and Dua Lipa, to name just a few.
And although some of the more well-known NFT collections also had their followers of celebrities (in particular the bored monkey of Justin Bieber and the Cryptopunk from Jay-Z), we are now shrinking when we look back on the famous NFT rage. Nobody is shrinking so hard in Labubus – yet.
Yes, Labubus is probably also overhyped, and yes, it’s funny to see Labubus on both the playground and the bar. But perhaps they have unlocked the long-term charm that has not come NFT collectible to reach.
Why am I so sure that you will never soon see a Pudgy Penguin Bag Charme on a Kardashian arm?