Is NFT potential investment or hype bubble? Look at this plush toy, you just understand

A. Jpg sells millions of dollars. Is NFT a new Beanie Babies?

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

Every time I discuss NFT, American netizens and media always like to bring this strange metaphor.

Beanie Babies, also known as “Doudou Wa”, is a plush toy that swept the United States in the 1990s. For young people in the United States, it may be just a debris sealed in the basement. But in the eyes of parents, this was once a hopeful investment, an opportunity to get rich, and a non -missed national enthusiasm.

Someone squatted in front of the computer until 12 am; some people traveled to the United States to queue up to buy it; some people experienced the excitement moment of buying $ 5 and $ 50,000; It was found that it was all foam.

Today, Doudouwa faded away and turned into a popular cultural symbol.

Young people on YouTube flipped down the box at home, hoping to find Doudouwa who “make you get rich overnight”. HBO MAX recently launched a documentary “Beanie Mania”, and Apple also announced that it will shoot a new movie with the theme. Some people even made these plush toys into NFT projects, saying that this was “the combination of my childhood dream and modern passion.”

▲ Picture from VOX

Is NFT a new Doudou baby? Is it a chance to turn them into NFT?

Doudouwa, “Tulip Bubble” in the 1990s

In 1986, Ty Warner founded the toy company Ty Inc. Seven years later, he launched the first Doudou baby series. The main image is cute little animals. He specially uses bright and lively colors. The price is only $ 5, but no one can buy it.

From a product point of view, these plush toys are innovative. Prior to this, most competing products were filled with cotton and stiff, and Doudouwa reduced cotton dosage. Add plastic particles to fill, so that children can swing their postures flexibly and increase playability. Later, Warner also gave people to each doll, attached to the name, birthday and a short poem.

But what really causes it is the scarcity of artificial manufacturing.

Warner often stops a series or style of “modifying design”. In 1995, he stopped producing an elephant doll (Peanut the Elephant) and changed its color from the blue blue to light blue. Because the early series did not produce much, the original price was later fired to $ 5,000.

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

▲ Doudou baby peanut the elephant

Various media reports and rumors in the field think he is a first -class “hunger marketing” master. And “The Great Beanie Baby Bubble: Mass Delusion and the Dark Side of CUTE”, ” obsessed.

Warner also has other “Sao operations”, for example, he insisted on selling Doudou dolls in independent toy stores and refusing to enter the Wal -Mart or Toys Battle City, which is settled in large chains. The number of people from each cooperative store is limited. If you want to buy a specific style, you may go around to grab your head.

The first batch of fans of enthusiasts are “Soccer Mom”. Most of them live in the suburbs and are good wives and mothers in middle -class families. They are busy with housework and care for children. In order to gather a full set, they will deliberately make a call from the US cooperative store to ask the inventory, and then take a plane to buy it back.

These mothers are like “powder heads” and “standing sisters” who are chasing stars. Not only do they have themselves, they also formed an important spread of Doudouwa. Some people publish their own magazines and sell more than 3 million copies; some people open blogs to pay close attention to Doudouwa dynamics, reply to the email to answer doubts; others have sorted out price guidelines to provide authenticity identification services. This love has even been partly until this day.

Every time Doudou’s production discontinued, it will be announced on the official website. People are not sure that the next one that becomes scarce is sheep, camels, or ducks, but news of 5 times, 20 times, and 1,000 times price of transfers is overwhelming. People take the initiative to join, and want to make a fortune.

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

▲ Doudou’s website of that year, preview the production suspension series

In 1997, Doudouwa and McDonald’s authorized to launch a mini version, 100 million plush toys, and were robbed in just one week. Some people even bought 100 happy paradise meals, do not have food, only take away toys -like today everyone grabbing McDonald’s cat nest and KFC blind box.

▲ Doudouwa who cooperates with McDonald’s

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

In the same year, the purple bear The Princess Beanie was born. It has a white rose on his chest with a small poem to commemorate Princess Diana. At first, because of insufficient production capacity, the cooperative store was told that only 12 were ordered. The news was misunderstood as “Super Limited Edition”, and it was another round of crazy.

The collective fanaticism of Doudouwa reached its peak around 1998.

This year, Ty Inc.’s sales exceeded $ 1.4 billion. Survey data show that 64% of Americans have at least one. Doudouwa is also considered to witness the rise of the Internet boom. Its trading transactions account for 10%of the total sales of EBAY, which has promoted the popularization and development of e -commerce to a certain extent. The following year, Warner crowded into the top 400 Forbes Rich List, and the net worth was expected to reach $ 5 billion.

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

▲ The creator of Doudouwa Ty Warner, the employee calls him “Jobs in the plush toy industry”

On the other side, the world becomes quite magical. Some husband and wife divorce requires the division of property, squatting at the court at the court; the fake and inferior cottage version of the Doudou doll appeared, and some people claimed to be a repairman fraud, and even the homicide caused by these plush toys …

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

▲ Divorced Doudou Baby is really there. The picture is from Reuters

However, with the continuous expansion of production, “hunger marketing” is gradually unable to play. At the end of 1999, Warner tried again to engage in major events, announcing that it would suspend production in the full series of Doudouwa on the last day of the 20th century. After the news was released, people were surprised to find that the secondary market had no response. The foam was so broken.

The sales volume fell, the price was diving, and the speculative hype of the speculation made birds and beasts. The TV drama actor Chris Robinson is one of the “bitter masters” who has no one who has no one. He smashed about $ 100,000 for Doudouwa. Originally, he wanted to earn the tuition fees of 5 children, but lost his light; now, he can only sit with 20,000 plush toys at home.

▲ Robinson later made his bank banknoteter experience into a short film

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

The humorous writer Dave Barry said that Doudouwa was originally a fun toy for children, but was turned into “a kind of obsession, ridiculous, excessive commercial hobby.” And market historian Jeremy Grantham pointed out that at a moment when the price of Doudouwa rises and is disconnected from value, it becomes a bubble.

This is the defect of human nature. No matter how smart you are, no one can escape the bubble.

Is NFT a new Doudou baby?

When reading “Doudou Baby Bubble: Volkswagen Thinking and Lovely Dark Noodles”, the best -selling writer @_elizabethmay posted such a tweet:

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

I am reading a book about Doudouwa. If you reflect each part of the “No. 1 Bear” inside to “Boring Ape NFT”, this is a book about NFT.

The tweet praised 12,000 times and reposted 2007 times. The passing netizens carried out nostalgia and loose discussions in the comment area.

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

Some people say that NFT is the same scam for Doudouwa. Others believe that NFT is not even as good as Doudouwa -Doudouwa is cute and comfortable. Even if it turns out today is not valuable, you can also wash them as toys for children, and NFT can’t catch it. Other people can’t wait to listen to the divorce story about NFT.

▲ HBO MAX’s Doudou Douda documentary “Beanie Mania”, some netizens said that this is also very similar to telling the story of NFT

The developer Rik Nieu tried to analyze the similarities between NFT and Doudouwa from several angles.

He believes that from the entire market, both have new designs. Specific to a series / style / project, the limited number will produce scarcity (such as the boring ape NFT only 10,000). Both of them are reported by the Internet or media reports, including the distribution channels that can be reached, and there are also communities that attract fellows (discord, Twitter, DAO, etc.).

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

VOX’s editor Emily Stewart has supplemented -there is a kind of unrestrained optimism, all of which have an enthusiastic impulse to have a certain item and believe that they will appreciate; at the same time, both areas are plagued by fraud and crimes.

▲ Netizen: As long as there is a big V haircut, people who buy NFT now feel that Doudouwa was an excellent investment.

ARTHUR SUSZKO, 34, is a Doudou doll enthusiast and NFT collector. In his opinion, today’s NFT is really similar to the bean dolls in the 1990s. He launched a NFT project for this, retaining the real objects of Doudouwa, but opening the corresponding NFT.

On the one hand, Suszko claims that this is “the combination of my childhood dream and modern passion.” On the other hand, he also knows that NFT’s enthusiasm may be fleeting. “No one will care about these. JPEG, which may sell for hundreds of thousands of dollars and randomly generate.”

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

▲ Picture from: Beanie baby dao

Most discussions today are concentrated in the hype and enthusiasm of the NFT projects. But in fact, NFT itself is not comparable to Doudouwa.

NFT (NON-FUNGIBLE token) is a non-homogeneous token. It uses blockchain technology to mark the ownership of a certain digital asset for you, which is the only and irreplaceable. The technology behind Doudouwa is not a plush toy itself.

In contrast, boring apes, CryPopunks, and even Phanta Bear (Phantom Bear) launched by Jay Chou’s recent tide brand are more comparable to Doudouwa.

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

▲ Phanta Bear (Phantom Bear), from The Finery Report

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

The NFT project may come and go, the price has skyrocketed or plummeted, some form foam, and some cannot afford the water, but the underlying technology has always existed: NFT technology clearly knows which local tyrant belongs to a pixel. The transaction records living all the way have experienced several transfers, how to change from $ 6 to $ 6 million … Everything has traces.

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

NFT’s potential is more than that.

NFT 是潜力投资还是炒作泡沫?看看这个毛绒玩具你就懂了

It can be an eternal life of art (such as Wang Jiawei’s “Fantastic Year of the Fantastic”), and also bring incentives to the creators (will receive a division every time they are resolved). It can also be a certificate of identity, a community in a community Tickets for access, or unlock some kind of participation and voting rights.

As for the sky -high price buying NFT artwork is stupid? See the wisdom.

Collection in consumer culture is generally divided into three stages: acquisition, ownership and resale. It is said that “it is difficult to buy the heart”. If you really like it, then from the perspective of art appreciation, it is subjective to you and determined by you. If you want to own it, it is not a loss, because today some NFT projects have become a symbol of social identity like tulips in the 1630s.

But if you are just investing in speculation, and the eyes of others earn a lot of money, then note: Once you can’t find the connection man and the enthusiasm will be disappeared, you are likely to be the at home with 20,000 plush toys at home stare at home. Robinson.

▲ The picture is from The Hustle

Economist Robert Shiller once wrote in the book “irrational prosperity”: “The expansion of speculative markets is often related to the public’s views -they think that the future is bright and more accurate than the past.”

Aside from the ingredients of hype, people who buy Doudouwa at that time may have a good hope for the millennium and the Internet. Today, everyone follows the trend of NFT, blockchain, encryption technology, web3, decentralization, Yuan universe … probably because of the future of these nouns.

By the way, on the trading platform Opensea, there is another NFT project that re -engraved the Doudou baby’s fanaticism in the 1990s. Introduction is ironic and interesting. It said, use Bubble Beanies to relive the fanaticism in the 1990s!

Even if this foam is as broken as the previous foam, it will no longer take up your loft space.

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