Remember Beanie Babies? Remember the promise of Dogecoin? I do. I think of my friend, neighbor, and fellow artist Sarah putting all her savings into CryptoPunks, certain she’d be able to retire young. Now? Those punks are collecting digital dust, a painful reminder of hope over hype. Might Labubu be going down a similar road?

Centralized Control: A Red Flag

The point isn’t whether Labubu is adorable (although, really, that’s beside the point). It's about control. Pop Mart, a publicly traded company, is the ultimate owner of Labubu. The Marxists don’t just call the shots on how many of them are made, but on what they look like, and when the next “limited edition” drops. This is the complete opposite of the decentralized ethos that lies at the heart of cryptocurrencies, such as Bitcoin. Bitcoin's scarcity is baked into its code. No one group or organization has the power alone to just raise the supply. Labubu’s availability is in the hands of corporate board.

Think about it. If Pop Mart decides to flood the market with a new line of "Diamond-Encrusted Labubus" tomorrow, what happens to the value of existing collections? Poof. Gone. Just like Sarah's retirement dreams. This isn’t the bogeyman speculation, rather basic economics clashing with the long arm of centralized control.

Bitcoin: A Truly Decentralized Alternative

Bitcoin, by contrast, exists in an entirely different universe. No CEO can choose to suddenly mint more Bitcoin. The rules are clear, publicly available, and open to verification by any party. It is this very decentralization that allows Bitcoin to weather crises and storms. It's resilient to manipulation and censorship. Can you make the same claim for a limited-edition collectible doll produced by a multinational publicly traded toymaker? I can't.

  • Bitcoin: Decentralized, Limited Supply, Immutable
  • Labubu: Centralized, Controlled Supply, Subject to Change

Decentralization isn’t merely an industry talking point, it’s a critical defense against corporate overreach and manipulation of the market. Most importantly, it empowers all people, especially underserved communities, placing ownership and control of their assets within their grasp.

The Illusion Of Scarcity And Value

And of course, the parallels between Labubu and the current NFT craze are extremely obvious. Celebrity endorsements—Lisa from BLACKPINK, Rihanna—fuel the FOMO. By extrapolating based on auction records, this gives a fake impression of scarcity and value. Social media amplifies the hype. Deep down, there is an important distinction. Most NFTs, for what it’s worth, provide provable on-chain scarcity, if not ownership. Labubu? Its scarcity is manufactured. It's a marketing tactic.

Don’t forget MOLLY and SKULLPANDA! They were Pop Mart darlings as well. Where are they now? Their popularity cycles got faster, their resale prices cratered. That’s been the fate of most centrally-managed collectibles. They surf a bubble of enthusiasm, then return to terra firma.

Decentralization: The Imperative For Digital Assets

As the example above illustrates, the solution isn’t to shun digital assets or digital communications. It's to embrace decentralization. Prioritize NFTs that have verifiable scarcity, authentic community-driven governance, and true utility. Support projects that prioritize transparency and immutability.

We need to learn from the past. The NFT boom and bust taught us a valuable lesson: hype is fleeting, but sound fundamentals endure. Decentralization is a core tenet that helps shield DC from market manipulation and value erosion.

Question Everything; Embrace Decentralization

Don’t buy into the cutesy fox exterior and model/actress celebrity endorsements. Ask yourself: Who controls this asset? What guarantees its scarcity? How can I verify its value?

The future of digital assets doesn’t lie in centralized collectibles owned by companies. It lies, rather, in decentralized, community-owned, and verifiable assets that empower individuals.

So, before you sink your hard-earned money into a Labubu, ask yourself: Are you investing in a collectible or a marketing scheme? And far more crucially, are you building the world of centralized surveillance and control, or the one of decentralized, democratic empowerment? The choice is yours.