POP MART Joins Forces with BlueX to Launch a New Era of Toy-Based RWA and Ignite a Global Blind Box Meme Craze
According to official sources from BlueX, the Web3 infrastructure platform is currently in strategic discussions with collectible toy giant POP MART to explore the on-chain transformation of its iconic blind box IPs. The discussions center around introducing these beloved characters into the Web3 space as Real World Assets (RWAs), with a focus on collaborative expansion across Southeast Asia and beyond.
The collaboration scope reportedly includes — but is not limited to — digital IP rights confirmation, on-chain blind box transactions, joint Meme IP creation, and the design of a new 'RWA Blind Box' issuance mechanism. The initiative will begin with POP MART's well-known character 'TwinkleTwinkle', aiming to turn collectible toys into structured, tradable digital assets, and expand their use across the broader cultural-financial landscape.
'We believe collectible toys hold not only emotional value, but also asset value,' said a representative from BlueX. 'Through on-chain authentication and asset modeling, the IP economy can evolve beyond collectibles into a new class of digital assets — gaining both financial and user engagement capabilities.'
POP MART's 'TwinkleTwinkle' to Lead the Leap On-Chain
'TwinkleTwinkle,' part of POP MART's 'Stellaroo' lineup, is a newly launched IP signed in 2024. Known for its soft and heartwarming design, the character has quickly risen to prominence in the designer toy world. Made up of tiny stars with rosy cheeks, 'TwinkleTwinkle' embodies both childlike innocence and subtle adult emotion, telling stories of courage, longing, and love.
Inspired by starlight in darkness, the character is designed to offer a romantic fairytale world for adults who still dream. Since its debut, TwinkleTwinkle has become a major emotional icon for young collectors and remains a top-selling blind box IP.
As part of POP MART's international strategy, the character frequently appears in Southeast Asian and Japanese retail spaces and brand collaborations. If realized, this partnership with BlueX would mark the character's first entry into the Web3 space.
BlueX has already developed an on-chain Meme-style virtual character based on TwinkleTwinkle and is preparing to launch a series of interactive Web3 experiences to bridge fans of the IP with decentralized digital ecosystems.
Toy IP + RWA: Cultural Assets Enter the Chain
Today, RWAs represent one of Web3's most compelling narratives. Unlike traditional RWAs such as real estate or bonds, BlueX is pushing the boundaries of what constitutes a 'real-world asset' by experimenting with collectible IPs as tokenized cultural assets.
This approach enhances the liquidity and transparency of collectibles while opening new monetization models for IP owners. From on-chain rights confirmation and tiered asset structuring, to IP meme generation, NFT circulation, and financial composability, BlueX aims to build a multi-dimensional RWA framework where traditionally offline collectibles become 'living' digital assets.
The collaboration between BlueX and POP MART has officially begun, with the first batch of co-branded visuals completed. More information is expected to be released in the coming weeks.
Official Links
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
an hour ago
- Forbes
Why Labubus—Like This One That Just Sold For $10,000—Could Be Sound Investments
A limited edition collaboration between the shoe brand Vans and Labubu—the quirky plushes from Chinese toy company Pop Mart that have sparked a viral phenomenon—is the latest rendition of the toy to sell for five figures on the secondary market as the online Labubu craze continues to heat up. The Labubu x Vans Old Skool Vinyl Plush Doll. The Labubu x Vans Old Skool Vinyl Plush Doll isn't new—it was designed in 2023—but its limited availability has pushed it to be one of the most coveted versions of the Labubu. An eBay listing for the limited edition toy ended Wednesday night with 96 bids and sold for $10,585, making it one of the most expensive Labubus to sell on the secondary market. The brown doll is wearing Vans' classic streetwear designs—including Sk8-Mid sneakers—as well as a Vans sweatshirt and blue and orange hat reading "The Monsters," the name of the series of characters to which Labubu belongs. The Vans Labubu is in good company: Other super valuable versions of the doll include the Three Wise Labubu (it sold in a Sotheby's auction for $28,300 in May), the Sacai x Seventeen x Labubu (auctioned for $31,250 last month) and a Chinese auction house in June sold a life-sized Labubu doll for more than $150,000 and a tall brown Labubu figure for $140,000. And while the price may seem high for what could be a flash-in-the-pan trend, Lori Verderame, an expert appraiser known to History and Discovery Channel viewers as "Dr. Lori,' told Forbes she thinks the Labubu trend is here to stay and that their 'unique look and general appeal will make them a strong market collectible for years to come.' "(Labubus) follow in the high profile and high value tradition of collectibles such as Ty Beanie Babies, Jem and the Holograms toys, Cabbage Patch dolls, and more recently Squishmallows,' Verderame said. 'Their connection to international children's literature, specifically Nordic folk tales, and their presence in the art market also helps drive the market and attract new and seasoned collectors.' Get Forbes Breaking News Text Alerts: We're launching text message alerts so you'll always know the biggest stories shaping the day's headlines. Text 'Alerts' to (201) 335-0739 or sign up here : The Labubu x Vans Old Skool Vinyl Plush Doll. curiouspanda02 The Labubu toy was designed by artist Kasing Lung, who is based in Hong Kong, a decade ago. He has said his characters, which first debuted in a picture book called 'The Monsters Trilogy' in 2015, are inspired by Nordic mythology. Lung licensed his designs to Pop Mart in 2019 and the company turned them into collectible toys. Labubus have skyrocketed in popularity thanks, in part, to endorsements from celebrities like Lisa from the K-pop group Blackpink, Rihanna and Dua Lipa, and also through TikTok 'unboxing' videos that shot them to viral fame. Labubus typically sell for $20 to $30 in 'blind boxes' so the buyer doesn't know what color or design the doll has until the box is opened, and it's the much-more-valuable 'secret' Labubus, which consumers have a 1-in-72 chance of buying, that are popping up on resale sites for thousands of dollars. Videos have been posted of Pop Mart stores overrun with customers brawling and yelling at one another over the toys, and one woman described the scene on a Labubu product release day as "Labubu Hunger Games." Fans have lined up at Pop Mart stores and vending machines for hours, even traveling overseas to get their hands on one, CNBC reported. Pop Mart pulled the dolls from all U.K. stores following reports of customers fighting over them earlier this year and CNN recently reported hundreds of Labubu toys have been confiscated by customs authorities in China as resellers attempt to smuggle them into the country. Owners are reportedly looking into insuring their Labubus when traveling abroad, and reports have popped up on social media of the dolls being stolen off of bags when being worn as a key chain. One woman even started a (so far unsuccessful) GoFundMe to replace a Labubu she says was stolen off of her bag while she was at dinner. Forbes Valuation Wang Ning, 38-year-old founder of toy maker Pop Mart International Group, has an estimated net worth of $21 billion. He joined the ranks of China's top 10 billionaires for the first time in June. Pop Mart went public in Hong Kong in 2020. Tangent The Labubu trend is reminiscent of the Ty Beanie Baby craze of the late 1990s, when clever marketing tactics and perceived scarcity sent $5 plush toys reselling for exponentially more, and while the 'Beanie Baby Bubble' did ultimately burst, a handful are still worth thousands of dollars. Alex Fung, pop culture consignment director at Goldin Auctions, said he expects Labubus to follow a similar path. Fung said he thinks the early Labubus are the ones that will best hold their value, but that other limited editions or collaborations could also face high demand. The everyday items, like the most common Beanie Babies, aren't likely to skyrocket in value, he said. Pop Mart, which has a market cap of $43 billion, this week said it expects a 350% increase in profit and 200% increase in revenue for the first six months of 2025 compared to the same period last year, largely on the back of Labubus, and the company reported $1.8 billion in revenue for 2024—an increase of more than 100% from 2023. Shares of Pop Mart International dropped 6% on Wednesday after the company put out its earnings forecast. Jeff Zhang, an equity analyst at Morningstar, told CNBC he thinks the company's shares are overvalued. Ning's net worth dropped almost $900 million with the dip. Further Reading Forbes Viral Labubu Dolls Resell For Thousands Online As TikTok's New Big Hit By Conor Murray Forbes Labubu: How Asia's Quirky Toy Became A Global Business Phenomenon By Sylvana Quader Sinha Forbes Pop Mart's Wang Ning Is China's 10th Richest Thanks To Labubu Mania By Yue Wang
Yahoo
2 hours ago
- Yahoo
Sony Takes Strategic Stake in Bandai Namco With $464 Million Deal
Sony Group Corporation has inked a strategic business alliance with anime and gaming powerhouse Bandai Namco Holdings Inc., with the electronics and entertainment conglomerate also acquiring a 2.5% stake in the company for approximately JPY68 billion ($464 million). The deal sees Sony purchasing 16 million Bandai Namco shares from existing shareholders, positioning the partnership to capitalize on the booming global appetite for Japanese intellectual property, particularly in the rapidly expanding anime sector. More from Variety Alex Garland Confirmed to Direct Live-Action 'Elden Ring' Movie From A24 and Bandai Namco Sony Earnings Surge on Gaming and Music, Pictures Take a Hit Sony in Talks to Buy 'Elden Ring' Publisher Kadokawa, Say Reports The two Japanese entertainment titans plan to leverage their combined strengths to expand fan communities worldwide and create what they're calling 'new and emotionally moving experiences' for audiences. The collaboration builds on the companies' existing partnerships across games, anime and music, but significantly broadens the scope of their joint efforts. Under the alliance, Bandai Namco will tap into Sony's production and distribution muscle in anime and video content, as well as merchandising capabilities, to expand works and services based on its IP portfolio. The companies also plan joint development and promotion of anime and manga properties, along with technical collaboration on experiential entertainment. The partnership extends to creator support initiatives, with plans for jointly developed entertainment technologies and services, plus potential co-investments and business alliances focused on fan engagement. 'The Bandai Namco Group promotes an IP axis strategy that aims to maximize IP value by leveraging the appeal and worldview of IP, providing the optimal products and services at the optimal timing in the optimal regions,' said Momoi Nobuhiko, executive vice president of Bandai Namco Holdings. 'We are filled with excitement about the potential to create new entertainment by combining Sony Group's strengths and technological capabilities across various entertainment fields with Bandai Namco's IP axis strategy.' For Sony, the deal aligns with its broader Creative Entertainment Vision strategy focused on maximizing IP value across its entertainment ecosystem. The company sees Bandai Namco's 'outstanding capacity for multidirectional expansion of diverse IP and deep connections with fans at real touchpoints' as key to expanding its global reach, according to Mitomo Toshimoto, Sony's chief strategy officer and representative corporate executive officer. 'Through this partnership, we aim to co-create an array of content and experiences that exceed expectations and deliver Kando (emotion) to even more fans,' said Mitomo. Best of Variety New Movies Out Now in Theaters: What to See This Week 'Harry Potter' TV Show Cast Guide: Who's Who in Hogwarts? Final Emmy Predictions: Talk Series and Scripted Variety - New Blood Looks to Tackle Late Night Staples
San Francisco Chronicle
3 hours ago
- San Francisco Chronicle
One of S.F.'s most anticipated restaurants is about to open
Once a common snack in Hong Kong, the gold coin — a skewer of stacked chicken liver and pork lard, glazed in char siu sauce and roasted — is going extinct. A rich, fatty treat composed of cast-off cuts, it was known as a proletariat dish. As diners' preferences changed, many Hong Kong restaurants stopped making it. But in San Francisco, chef James Yeun Leong Parry will revive it at his much-anticipated modern Chinese restaurant, the Happy Crane, opening Aug. 8 at 451 Gough St. His golden coin will look different: chicken liver mousse and thin slices of melty, slow-cooked coppa perched atop a house-made bao with pickled ginger and chives. 'A lot of my inspiration comes from humble ingredients or humble dishes and those techniques, I feel, are dying,' Parry said. Parry, a fine dining chef known for his popular Happy Crane popup, hopes to at once preserve traditional Chinese foodways, and interpret them for a new generation. Born in England but raised in Hong Kong, Parry went on to work at Corey Lee's three-Michelin-star Benu in San Francisco, as well as Michelin-starred restaurants in Hong Kong. The Happy Crane is equipped with a hulking, super-hot duck oven to prepare whole Peking-style birds. A stone mill will be used to grind fresh rice for cheung fun, or rice noodle rolls. Parry added a wok station to the kitchen of the prominent corner space in Hayes Valley, last occupied by Lee's French bistro Monsieur Benjamin. The menu is a la carte, though diners can opt for a $120 chef's choice dinner. Dim sum favorites like firecracker shrimp and fish-stuffed eggplant take on new forms and flavors here, the latter topped with sweet uni and Worcestershire sauce (a nod to Parry's birthplace). Braised beef shins ($19) are paired with confit artichokes, sliced to mimic the appearance of beef tendons, and an aromatic sauce made from a master stock. The rice roll ($33), which Parry said has a 'gelatinous' mouthfeel thanks to the fresh-milled rice, comes with crab and a sauce made from crab shells, butter, and shaoxing wine. The craft of siu mei, or roasted meats, is a passion of Parry's. At popups, he made char siu with pork jowl, a cut of meat more common in Hong Kong than the Bay Area, which will continue at the restaurant. The whole ducks, available by pre-order ($110), come with housemade pancakes and tian mian jiang, a thick, fermented sauce that Parry elevates with pluot juice. Parry also plans to apply the techniques of Cantonese duck to roasted Wolfe Ranch quail with lacquered skin ($41). And crispy pork belly ($45), siu yuk, gets its turn in the ripping-hot duck oven. 'Basically, it's several steps of burning the skin to get that crispy, charred flavor,' Parry said. The pork belly is finished on a Japanese charcoal grill and served with a miso hot mustard, choy sum and tomato relish. 'Particularly here in the West where labor is really tough, these traditional elements, because they're very time-consuming and very specific in terms of the craft, people are trying to find shortcuts,' said Parry. 'I understand it economically, but as a craft, I think it's really important to preserve.' Desserts pull on childhood nostalgia: seasonal frozen yogurt, which Parry grew up eating in Hong Kong, and mochi balls that channel the chocolate-hazelnut flavor of Ferrero Rocher, a typical Chinese New Year gift. Parry and Happy Crane bar manager Carolyn Kao (previously of top spots True Laurel and Good Good Culture Club in San Francisco and Oakland bar Viridian) brought in Kevin Diedrich of famed San Francisco bar Pacific Cocktail Haven to develop drinks. They play with Chinese ingredients like lychee, red bean and five-spice throughout the menu. The Rosy Dawn, one of the first cocktails recorded in Hong Kong by writer Charles H. Baker, mixes gin with jasmine, coconut-fig leaf-rhubarb cordial and cherry liqueur. Diedrich reinterpreted Pacific Cocktail Haven's popular gimlet for the Happy Crane with sakura tea, a cordial made from Japanese citrus, and dried tangerine peel bitters, a traditional Chinese seasoning. Nonalcoholic drinks and Chinese teas will also be available. General manager and advanced sommelier Justin Chin, who previously worked at San Francisco fine-dining restaurants Gary Danko, Spruce, Ju-Ni and Hina Yakitori, developed the wine list. It's largely focused on Champagne, German Riesling and Burgundy. Wines by the glass range from $16 to $37 for high-end Champagne. 'I think a lot of people think of wine as an afterthought with Chinese food,' said Chin, a San Francisco native who grew up visiting family in Hong Kong.' I think it's appropriate to showcase that wines at this level can match the food, or vice versa.' The Gough Street building with dramatic floor-to-ceiling windows has been transformed into a warm, open space filled with personal touches. Two stone mythical creature statues, given to Parry by his uncle as symbols of protection and prosperity, flank the front doors. Banquettes are made from English tweed. Parry's sister, Yolande, painted artwork in the moody bathroom and illustrations for the cocktail menu. The heart of the dining room is a 14-seat wraparound bar covered in wavy, textured layers of plaster, meant to evoke a style of traditional Chinese landscape painting. Dishes will be served on bowls and plates made by a Taiwanese artist and a local ceramicist. A large floral paper lantern hangs over a 12-seat private dining room, which will be used for general reservations when it's not booked. The Happy Crane adds to a wave of next -generation Chinese restaurants. Chef-owner Brandon Jew is often credited with leading the charge when he opened Mister Jiu's in San Francisco in 2016. Two alumni of the Chinatown Michelin-starred restaurant are now running nationally acclaimed newcomer Four Kings. The genre, Parry said, is 'starting to wake up and gather momentum with these modern versions of Chinese cuisine through different people's lenses.' The Happy Crane. Opening Aug. 8. 5-9 p.m. Tuesday-Saturday. 451 Gough St., San Francisco.
