On December 11, Bubble Mart (stock code: 9992.HK) was listed on the Hong Kong Stock Exchange at an issue price of HK$38.5 per share, raising HK$5.025 billion. The opening price was 77.1 Hong Kong dollars per share, a 100.26% increase from the issue price, and the market value once exceeded 110 billion Hong Kong dollars.
When Bubble Mart reached a market value of 100 billion yuan, even veteran investors who have wandered the capital market for many years shouted "I don't understand". So, why does Bubble Mart drive low and go high, doubling its market value? Why are blind boxes so popular?
In 2010, Bubble Mart opened a store, copying the model of a commodity collection store, mainly selling small commodities such as toys, cultural and creative products, furniture and digital. However, in the era of surging e-commerce entrepreneurship, in contrast, the development of offline stores is not smooth, facing the dilemma of continuous losses.
At the end of 2015, a turning point appeared. Wang Ning, the founder of Bubble Mart, found that the sales of a Japanese blind box toy named Sonny Angel in the store continued to grow. Inspired by this, Wang Ning researched the toys that users like to collect, and went to Hong Kong to visit Molly's designers. Soon, Bubble Mart became Molly's exclusive authorized distributor and exclusive authorized manufacturer in mainland China. This cooperation is like the "key" of Bubble Mart's transformation, opening the mysterious door of blind box marketing.
Designers carry out IP design, and Bubble Mart conducts exclusive production and sales. Its blind box model not only makes the company turn a profit and be listed on the Hong Kong stock market, but also completely rewrites the fate of the domestic trendy game industry. Behind this lies the infinite charm of the "blind box economy". First of all, the blind box model captures people’s psychological pain points: buying toys is not necessarily exciting, but changing to a lottery will become more exciting. Drawing a blind box gives people an unknown surprise, especially at the moment when the hidden money is drawn, the mood is comparable to winning a lottery. Secondly, high-quality IP is the core to attract users to pay, and it is also a necessary prerequisite for the development of Bubble Mart. Only by continuously incubating and digging out more international IPs and commercializing them can we open up the space for multiple realizations.
To some extent, the DeFi market, which began to shine in June this year, has something in common with the blind box economy.
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(Data sourced from DeRadar:https://deradar.com/）
Behind the continuous growth of data is the unlimited potential shown by DeFi. First of all, decentralized finance solves the closed, slow, and opaque pain points of traditional finance, making assets more transparent and transactions fairer. DeFi is expected to realize the automation, intelligence, and decentralization of the financial industry. It is also an excellent use case for the blockchain to empower the real industry, and it contains huge practical and commercial value. It is also because of this that DeFi, which was born in the currency circle, is not subject to the constraints of currency prices, and is extending its tentacles to securities, futures, and derivatives markets outside the currency circle.
Secondly, the innovation in the DeFi field is endless, and it has the composability of "currency Lego", which is also the core driving force for its continued development. At present, innovations about DeFi are still emerging in a steady stream. As long as this driving force is still there, the driving force of the market will still be there. Some projects are not born for the purpose of making money from the perspective of conception alone, but are the result of careful design by the project party. Users can participate directly and gain tangible benefits.
It is the combination of blockchain technology empowering the financial industry and infinite innovation that makes DeFi another grand revolution after Bitcoin and ICO. Just like the perfect combination of blind box mode and high-quality IP, it has created the success of blind box economy.
This article only represents the personal views of encrypted notebooks and does not constitute any investment opinions or suggestions.
This article only represents the personal views of encrypted notebooks and does not constitute any investment opinions or suggestions.
