$11 million Bitcoin ￥1.08 million LABUBU

In our era, there is no Consensus, only individual choices under two macro propositions:

1. 1 The interaction between technology and society, the successful internet industry, the failed metaverse attempts, and the Web3/blockchain that is proving itself;
2. 2 Personal Choices in Cycles, LABUBU is a high-end cultural symbol of system industrialization, and BTC holders are long-term beneficiaries of the excessive liquidity.

Image description: The dormant address has come alive. Image source: @whale_alert. Under the LABUBU trend, even if everyone rejects its cultural and economic value, people in the cryptocurrency space must keep up with the times and actively embrace new phenomena.

It's not because LABUBU and NFTs are similar; this is a case of using a hammer to see everyone as a nail. We should accept that this is a diverse world and an objective law of economic development. Reproducing niche products in a mass way will lead to scale effects that cause wealth to grow exponentially.

Until we reach the real hard cap, this industry will produce true leaders, such as Binance, USDT, BTC, or LABUBU. The auction price of 1.08 million for LABUBU serves as a psychological stabilizer, telling everyone that this is the top, and there is still significant room for growth in your hands, encouraging continued holding.

Searching for the Next Generation's Attention

$110,000 Bitcoin excludes ordinary people, 1.08 million LABUBU multi-level marketing.

We have been preparing for a long time before the price of Bitcoin breaks through $100,000, much like the anxious anticipation before the Ethereum Cancun upgrade. However, we all know it will come; once the psychological price level is broken, the arrival of $110,000 will no longer be so noteworthy.

The trend of LABUBU in the cryptocurrency circle is gradually fading, and without chasing the hype, analysis becomes more composed. LABUBU has not drifted away from us; everyone needs to return to their respective niche spaces, looking forward to the next time it captures the public's attention.

In my opinion, LABUBU is the first time young people from small towns have learned to face the world through the process of IP design, implementation, and launch. However, they do not know how to conclude, and I look forward to seeing a perfect ending.

This is particularly important for the cryptocurrency community, which is struggling with the disappearance of the listing effect on Binance and the decline of altcoins during the market downturn. LABUBU serves as a launchpad, hosting many evergreen assets like MOLLY/LABUBU, and has its own secondary markets such as Qianshidao and Xianyu, along with its imitation platform Pinduoduo.

Let's review the development process with Pop Mart, and you will find that LABUBU is not particularly important. The cultivation of MOLLY's development and the early blind box model training made the emergence of a popular product like LABUBU inevitable.

In terms we are more familiar with, LABUBU is an asset, and blind boxes are a way of asset issuance. After more than 10 years of development, it has reached a level of mastery, representing a complete victory of industrial thinking over manual operations.

Image description: Pop Mart architecture image source: @zuoyeweb3 If we go back to 2013, the buzzword was "everything can be done again with mobile internet"; in 2017, it was "everything can be done again with blockchain". Therefore, in 2014, Pop Mart investor Mai Gang would understand Bitcoin.

Trends vary each time, but change always exists.

The guide for American venture capital is Tim Draper, who is one of the largest creditors of Mentougou, an investor in Coinbase, and an investor in almost all of Musk's projects: Tesla/SpaceX/SolarCity. Oh, and it also includes the cryptocurrency stock trading platform Robinhood.

Whether it's McAfee or Draper, it doesn't matter if they understand the technical principles of Bitcoin or the intrinsic relationship between rubber toys and millet shops. What matters is to grasp the trends of the next generation, not to try to educate young people, but to try to understand and respect them.

Although those who hold Bitcoin may consider themselves more upscale than those who buy LABUBU, those who buy LABUBU may think they understand trends better than those who buy Bitcoin.

Then let's sell together; there will always be one that suits you.

Layout of Ordinary People's Purchasing Power

On-chain IP faces repeated defeats, while Pop Mart grows more courageous with each setback.

I would like to propose a counterintuitive viewpoint: the scale of the on-chain activity crowd is not large enough, and the concentration of funds is overly easy. The owner of Onekey, along with a few friends, can gather 1/5 of the Resupply TVL, but no matter how high the price of LABUBU is, the number of holders will be hundreds or even thousands of times greater than this.

In other words, what LABUBU wants is not high luxury, but the purchasing power of ordinary people.

The spiritual core of Bitcoin is highly similar to this. Although 110,000 Bitcoin is not the financial choice for ordinary people, every drop in the past decade has been a good opportunity to enter the market. If you believe that future quantitative easing will continue, then 1,000,000 Bitcoin is not impossible.

Fundamentally, Bitcoin has never shortchanged any holder; the supply of 21 million creates moderate scarcity, and the high premium is also supported by reality.

LABUBU and Pop Mart are well aware of this, and Wang Ning once said to be "70% full". You can understand this as a moderate scarcity to maintain heat, or you can view it as the economic basis for a 20-fold premium on their products.

The secondary market is an existence that cannot be officially recognized or accessed for Maotai, luxury goods, and Pop Mart. However, the speculative nature of humanity never sleeps, and it seems that without saying a word, a commercial understanding can naturally be reached.

The premise is that it requires a ten-year layout. Unlike the quick rise and fall of Bing Dwen Dwen, Pop Mart's MOLLY is still contributing profits to the company. Wang Ning also believes that nurturing IP requires continuous investment. The very essence of Disney's legal department is an extreme representation of the company's emphasis on its IP.

The same goes for Bitcoin. I once found it hard to understand why a completely open-source, unmanaged, and even non-profit Bitcoin community could exist. Today's crypto community is synonymous with distribution channels, but both the Linux and BTC communities are living proof of globalization for over 10 years.

Even Linux has accompanied us for several generations, and Disney has even crossed a century. Can Bitcoin become the next Linux, and can Pop Mart become the next Disney?

At least, their spiritual cores are highly similar: enabling more and more ordinary people to participate, encouraging generational renewal, and keeping pace with the new era of humanity. Many examples can be cited, such as Disney's Lena Bell, Pop Mart's Crybaby, and Linux's Rustification.

Bitcoin is unique, adopting a strategy of keeping its founder anonymous while responding to changes with an unchanging approach, creating a tremendous sense of spiritual identity. Those who participated in Bitcoin ten years ago still exist today, and newcomers twenty years later can also participate as usual.

Conclusion

Even if the whole world does not understand LABUBU, people in the crypto space should not deny its immense value. We should even learn from, imitate, and surpass it.

Pop Mart has four IPs with annual sales exceeding 1 billion yuan, and the startup IP Molly now accounts for less than 30% of total revenue. Currently, Bitcoin still accounts for over 50% of the total market value of cryptocurrencies, which indicates that our ability to innovate is still not as good as that of the millet store. We should work harder.

Telling a good story about the cryptocurrency world doesn't necessarily mean telling a story from the cryptocurrency world. The next proposition is: Labubu enters the financialization cycle. Cursing or celebrating is meaningless; we only have one question: where is the next opportunity? How to participate?