When will Pop Mart collapse? Not anytime soon!

BAYC is a self-high in the circle, with a floor price of 200 ETH * 4000 USD = 800,000 USD each at its peak. Labubu is a global hotspot, currently rare models are priced at several thousand USD each. When some rarer ones reach 1,000,000 USD each, top-tier rare items are auctioned at 2,000,000 USD each.

The collapse of Bored Ape Yacht Club (BAYC) is due to the ease of NFT issuance, the explosive growth in quantity, and the acceleration of NFT liquidity driven by Blur, making control over the market no longer feasible and leading to a breakdown of consensus.

The issuance, circulation, sales, and operation of labubu are all a test of skill, and there is no worthy competitor that can compare with it. As a result, rare models in the off-market will not be diluted by any competitors. Additionally, with no mature circulation market, the pricing power is relatively well controlled.

Under the blind box mechanism, if I draw something I don't like, I comfort myself by saying it's quite cute; finally drawing something I like, I spend more money, saying that it's priceless to see myself happy; drawing something extremely rare, I feel like I've made a profit and it can appreciate in value.

Therefore, stock prices may decline due to regulations or any short-term negative news, but in the long run, they will continue to rise and become the Hermès for the new generation of young people.

Of course, I would never buy stocks with a PE over 100 myself, but I would also never short it - however, if I get an opportunity with a PE below 40 in the future, I should focus on assessing whether there are suitable opportunities.