Beanie babies were the NFTs of the 90s

Recode Daily

Recode

Society & Culture, Science, Technology

4.6 • 1.3K Ratings

🗓️ 6 April 2022

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

What happens when the frenzy ends and the world doesn’t value your valuables? Vox’s Emily Stewart explains what the Beanie Baby bubble burst can tell us about the future of NFTs. This episode was first published Jan. 24, 2022. Read Emily’s story: https://www.vox.com/the-goods/22870250/nft-beanie-baby-price-guide-bubble-princess-value Today’s episode was produced by Taylor Maycan, engineered by Cristian Ayala and hosted by Adam Clark Estes. Support Recode Daily by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Think about cheese.
0:02.0	Make your thoughts cheesier.
0:04.2	Now add 100% chicken breast fillet, Chipopla sauce and Ameta cheese melt.
0:08.3	And it's giving the new cheesy chicken stack at McDonald's.
0:12.3	Did we mention it's cheesy?
0:13.9	Cheese.
0:15.8	Availments at the 4th of Jan, 2026 from 11am.
0:18.1	Plus and participation may vary.
0:19.2	Subject to availability.
0:24.3	It's 2026 from 11 a.m. Price and participation may vary. Subjects availability. It's 2022 and NFTs are everywhere you look.
0:29.3	But just how long can the hype last?
0:32.5	Probably not forever if we're being realistic.
0:35.0	And what happens when it fades and the world decides that your rare, valuable digital item no
0:41.1	longer has any value at all?
0:43.6	Emily Stewart, senior correspondent for Vox, to get a sense of what the future might hold for
0:48.0	NFTs, you say we need to go back to the 90s and a toy that was all the rage.
0:54.0	Yes, Beanie babies. Beanie babies were a
1:00.1	huge deal in the 90s if you think back. Where would you rather have a new car or peanut the
1:05.5	elephant? You know, and they're not exactly the same as NFTs, but I do think that there are some comparisons.
1:12.3	If you think about the height of Beanie Baby Mania, a lot of people really thought that the toys would be the key to retirement or to college tuition.
1:20.0	People thought that they were going to be Beanie Baby millionaires.
1:23.3	I have probably 168 beanies.
	...

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