When will Bubble Mart collapse? Not yet! Bored Ape Yacht Club (BAYC) is self-hyped within the circle, with a floor price of 200 ETH * 4000 USDT = 800,000 USDT per piece. Labubu is a global hot topic, with rare editions currently priced at thousands of USDT each. Some rarer pieces may reach 1 million USDT, while top-tier rare editions could be auctioned for 2 million USDT. BAYC's decline is due to overly easy Non-Fungible Token (NFT) issuance, explosive quantity growth, coupled with Blur accelerating NFT liquidity, making price control no longer feasible, and consensus collapsing. Labubu's issuance, circulation, sales, and operations all demonstrate high-level expertise, with no comparable competitors. Rare editions outside the market won't be diluted by any competitors, and without a mature circulation market, pricing control remains relatively excellent. Under the blind box mechanism, drawing an undesirable item leads to self-consolation that it's still cute; finally drawing a liked item means spending more money, saying "happiness is priceless"; drawing an ultra-rare item feels like making money and potential value appreciation. Therefore, stock prices might drop due to regulation or short-term negative factors, but long-term prospects remain promising, potentially becoming the Hermès of the new generation. Of course, I currently won't buy stocks with a PE over 100, but I also won't underestimate it—if given a PE below 40 opportunity in the future, I would carefully assess potential investment prospects.

Thanks for sharing, but this is just a metaphor, it's fine, but it's still early to understand labubu. Bayc is not qualified to compare with labubu.

I met with Brother Ming offline today and talked about Pop Mart. He also believes that it will not collapse.