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Meet Lovebu, NFTS – your worst enemy.
The possibilities of Crypto have long dreamed of artists creating universally beloved characters.
It’s not an impossible fantasy. It’s at the heart of almost every NFT collection, and no matter what creators say about their mission to build a community, money is revenue.
The blueprint of obsession already exists – Pokemon, my little pony, Yu-gi-Oh! , look at the baby beanie. People are probably willing to spend too much money and collect many versions of cute things and take too long. It’s something that was given.
Still, essentially, all NFT collections have failed to create a permanent public interest in versions of “cute things” with the exception of Pudgy Penguins and Walmart Plusies.
But they are clearly not love buses.
It’s so humble to see completely non-blockchain, non-NFT, non-cryptic collectibles that do what NFT collections have been trying to do for years and essentially overnight.
Labubus, an ominous yet cute little monster, was created in 2015 by Hong Kong and Belgian artist Kasing Lung. They became a phenomenon in 2019 when they partnered with Toymaker Pop Mart for mass distribution. Blackpink’s Lisa (arguably one of the world’s biggest pop stars) did not wear Lovebu in April 2024.
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As an NFT skeptic, what makes it this laughing riot for me is that the physical stuffed animal, the love bus of the beloved global phenomenon, has happened to succeed following NFT’s “guide of success,” which failed so miserably with a “digital” stuffed animal.
What is that guide? Rareness, exclusiveness, community.
Labubus is often in a “blind box.” In other words, Crapshoot is what Labubu looks like. As today’s psychology writes,
“This uncertainty is not different from slot machines that utilize the reward circuits of our brains. The limited edition of “secret” love buses can cause joy and even obsessions. After that, collecting is more than just acquiring. It becomes a ritual, a source of community, and perhaps a pride. ”
This sounds like the “Overview” section of all failed NFT collection websites right after describing links to unusual attributes, surprise mint schedules, and community inconsistencies.
More celebrities other than Lisa have been given a few examples of Loveboo accessories, including Rihanna, Kim Kardashian and Dua Lipa.
And while some of the more famous NFT collections also had their celebrity followers (particularly Justin Bieber’s Boring Apes and Jay-Z’s Cryptopunk), we cry when we look back at the celebrity-studded NFT trends. No one is crying so hard on Labubus.
Yes, Labubus is probably also over-deathed. Yes, it’s fun to see Labubus in both the playground and the bar. But they may have unlocked the long-term appeal of NFT Collectible not approaching achievement.
Why am I so sure that I never see the charm of a Kardashian bag that is bushy on his arms at any time?