To be honest, as a brand, I can really empathise with the fire of Labubu. Not sentiments, not trends, but because it's too much like what we're familiar with, #NFT and meme coins. Mystery box mechanism ≈ mint Rare ≈ rare NFT Thousand Islands / Dewu Premium ≈ Secondary Market Trading "I have it too" ≈ Identity Projection & Emotional Consensus Price isn't the point, social symbols + ownership + trend capture are. Labubu is not an NFT, but its propagation logic is highly close. And it's "lighter" than NFTs: You don't need a wallet, you don't need to understand the chain, you don't need to grab a blank order. Click on a small program, place an order successfully, or go to the physical store to line up when shopping, and if you are lucky, you can join a club. Both have social attributes, and it's not the same as #BAYC. BAYC is the "entry threshold" avatar of the crypto circle, and Labubu is the "I know you" in the trendy toy world. You won't ask about Labubu's "long-term value", you'll just ask: Can this hidden model be multiplied tenfold? Can this colour be hung on LV to make an effect? So, I feel more and more that Labubu is a non-chained consensus experiment. It's not the ERC-721 we're familiar with, but it has the fomo, premium, and sense of identity that we're familiar with. It reproduces the logic and gameplay of "consensus assets", but it is not on the chain. What is fried is a pendant, what is bought is a topic, and it occupies the cultural position of a group. It's not that "young people love to fry", but our generation Already very familiar with: How from images, jokes, avatars, dolls, Build your own identity and asset landscape. Labubu, just another entrance. #Labubu #Meme #NFT #Crypto