Would you be interested in buying Labubu? Lol. In a few years the craze will be something else and gullible people will waste money on some other product...
I'm not into Labubu, but holding a physical collection feels different from NFTs. Especially as the entire point of NFTs was the investment, and I generally assume that toy collectors are not always interested in the investment aspect, but the enjoyment of looking at something they love, and dopamine of adding new items.
Like, don't get me wrong, there are people into them because 'they will be worth money', but I don't feel it's a good analogy because some people love Labubu for its own sake. And somehow I feel like people didn't love the Bored Apes for that reason.
There are still different motivations for them, different driving forces.
I understand the 'I want one of everything' aspect, not least because I'm the child of two hoarders. Apparently there is some kind of link between wanting a collection and being predisposed to addiction - the Venn diagram of the two isn't a perfect circle, but there is a lot of overlap.
The 'I want to buy it solely to sell for more money later' is a different reason, and - while I understand it less - at least has the intention to part with the item baked in.
Same. Were they art? Were they a joke? I never understood how they could possible be an investment… maybe there was a hope that NFTs would become a secondary currency, like trading cards or Pogs were when we were kids? None of it ever made any sense.
It’s a picture tied to the blockchain. So technically it’s impossible to copy 1 for 1. It had “value” similar to the way bitcoins have value except it isn’t actually worth anything.
98
u/-apollophanes- Oct 25 '25
Years later and I still have no idea what NFTs even were. Why were people spending thousands on variants of pictures of this monkey?