Behind the Labubu Toy Craze: The Rise and Fall from Virtual Tokens to Physical Industries
In 2024, a sprite character toy named Labubu sparked a global craze. Designed by artist Long Jiasheng, this toy quickly became a new favorite in pop culture due to its unique shape and sales model.
The characteristic of Labubu toys is their round, fluffy body, paired with big wide-open eyes, pointed ears, and a mischievous smile made up of nine sharp teeth. This design inspiration comes from Nordic folklore and mythology, reflecting the designer's love for fairy tales.
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In 2019, Labubu gained wider attention after collaborating with a toy company. According to the company's mid-2024 report, the sales revenue of related product series reached 6.3 billion RMB in the first half of the year. The third-generation product launched in April 2025 triggered a buying frenzy in several countries, even leading to high-priced reselling.
The popularity of Labubu is closely related to its unique sales approach. The use of the "blind box" model increases the excitement and uncertainty of purchasing, prompting consumers to repeatedly buy in pursuit of rare items. An experienced collector stated that the process of shaking the box to obtain special edition toys is thrilling.
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In addition, Labubu, as an excellent cultural IP, has successfully crossed cultural barriers. It is not only popular in the Asian cultural sphere but has also won the favor of Western pop music and sports stars. Analysis indicates that the reasons for Labubu's explosive popularity include its cross-cultural attributes, the innovative accumulation of creation and promotion, as well as China's complete industrial chain and mature industrial ecosystem.
However, with the rise in popularity of Labubu physical toys, related virtual assets have also experienced ups and downs. In May 2025, a virtual Token named Labubu was launched, which once sparked a wave of speculation. However, this Token, lacking practical applications and technical support, ultimately could not escape the fate of a significant price drop.
!7377657
Similar situations have occurred with other well-known IPs. For example, a certain penguin-themed NFT project set a high price record in December 2024, but the price has now significantly decreased. The related virtual Token has also lost nearly eighty percent of its value in just six months.
!7377641
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Even the once highly sought-after digital artworks, such as a well-known NFT series, have not escaped the price decline following the waning of market enthusiasm. These cases indicate that whether relying on physical products or purely digital assets, a boom sustained solely by hype and speculative sentiment is ultimately difficult to maintain.
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Although Labubu's physical toys still maintain their market popularity, the derived virtual assets struggle to escape the price volatility brought about by speculative attributes. This phenomenon reflects the complex relationship between the virtual economy and the physical economy, and serves as a warning for investors. When chasing emerging trends, it is crucial to rationally assess their long-term value and practical application prospects.
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TokenToaster
· 09-02 00:05
Another play people for suckers machine, cuts the money and runs.
View OriginalReply0
DAOdreamer
· 08-31 12:44
炒概念 The Best in the World
View OriginalReply0
SilentObserver
· 08-30 02:50
Who doesn't have two bunnies in their hands?
View OriginalReply0
FUD_Whisperer
· 08-30 02:49
Another round of hype is coming to an end, calm down a bit.
Behind the Labubu craze: Physical toys are booming while virtual assets are cooling down.
Behind the Labubu Toy Craze: The Rise and Fall from Virtual Tokens to Physical Industries
In 2024, a sprite character toy named Labubu sparked a global craze. Designed by artist Long Jiasheng, this toy quickly became a new favorite in pop culture due to its unique shape and sales model.
The characteristic of Labubu toys is their round, fluffy body, paired with big wide-open eyes, pointed ears, and a mischievous smile made up of nine sharp teeth. This design inspiration comes from Nordic folklore and mythology, reflecting the designer's love for fairy tales.
!7377605
In 2019, Labubu gained wider attention after collaborating with a toy company. According to the company's mid-2024 report, the sales revenue of related product series reached 6.3 billion RMB in the first half of the year. The third-generation product launched in April 2025 triggered a buying frenzy in several countries, even leading to high-priced reselling.
The popularity of Labubu is closely related to its unique sales approach. The use of the "blind box" model increases the excitement and uncertainty of purchasing, prompting consumers to repeatedly buy in pursuit of rare items. An experienced collector stated that the process of shaking the box to obtain special edition toys is thrilling.
!7377606
In addition, Labubu, as an excellent cultural IP, has successfully crossed cultural barriers. It is not only popular in the Asian cultural sphere but has also won the favor of Western pop music and sports stars. Analysis indicates that the reasons for Labubu's explosive popularity include its cross-cultural attributes, the innovative accumulation of creation and promotion, as well as China's complete industrial chain and mature industrial ecosystem.
However, with the rise in popularity of Labubu physical toys, related virtual assets have also experienced ups and downs. In May 2025, a virtual Token named Labubu was launched, which once sparked a wave of speculation. However, this Token, lacking practical applications and technical support, ultimately could not escape the fate of a significant price drop.
!7377657
Similar situations have occurred with other well-known IPs. For example, a certain penguin-themed NFT project set a high price record in December 2024, but the price has now significantly decreased. The related virtual Token has also lost nearly eighty percent of its value in just six months.
!7377641
!7377642
Even the once highly sought-after digital artworks, such as a well-known NFT series, have not escaped the price decline following the waning of market enthusiasm. These cases indicate that whether relying on physical products or purely digital assets, a boom sustained solely by hype and speculative sentiment is ultimately difficult to maintain.
!7377626
!7377630
!7377639
Although Labubu's physical toys still maintain their market popularity, the derived virtual assets struggle to escape the price volatility brought about by speculative attributes. This phenomenon reflects the complex relationship between the virtual economy and the physical economy, and serves as a warning for investors. When chasing emerging trends, it is crucial to rationally assess their long-term value and practical application prospects.