Beanie Babies were the NFTs of the '90s

“It’s just so sad to see somebody spend so much money on something that isn’t real.” There are two things to know about the current market for Beanie Babies. First: There is one. Second: Many of the Beanie Babies people are paying a lot of money for are probably ones you’ve never heard of. And, I guess, there’s a third thing: Most Beanie Babies out there aren’t really worth much at all. That’s what happens after a bubble bursts. It’s a small leap to look at what’s going on with NFTs right now and see that it’s at least a little Beanie Baby-esque. People are piling money into fun, cute, but ultimately fairly useless items and hyping them up as the next big thing for ??? reasons. Maybe this will be different and Bored Apes will be forever. Or maybe at some point, like with Beanie Babies, the interest will fade, and most people will just move on. What happens to the people who don’t? [That’s what I recently sought to find out in the land of Beanie Babies](. Get ready to meet Karen, Karen, Becky, and the Beanie Bronies. —[Emily Stewart]( senior correspondent After the Beanie Baby bubble burst [Illustration of a white Beanie Baby with wings]( Alex Gilbeaux for Vox “It’s just so sad to see somebody spend so much money on something that isn’t real.” That’s what Karen Boeker, counterfeit Beanie Baby expert, says motivates her work: separating the valuable Beanie Babies from the pretenders. Of course, the value of the real ones is debatable, too. Honestly, if you think about it too long, the entire concept of worth can fall apart. Boeker, 54, can’t quite pinpoint why she’s dedicated more than 25 years of her life to Beanie Babies. The frenzy around them faded long ago, as these types of things tend to do. [Maybe she has an addictive personality. Maybe it’s the thrill of the chase. Maybe it’s just that they’re cute. Whatever the case, she’s kept at it.]( She sold Beanie Babies to pay for an emergency appendectomy about 20 years ago and, more recently, to help pay for her son’s wedding. She’s also one of three women behind a Beanie Baby pricing guide and a Facebook group for collectors with tens of thousands of members. Combined, they have several decades of Beanie experience. Their names, naturally, are Karen, Karen, and Becky. [Read the full story »](  [Learn more about RevenueStripe...]( The empty promise of instant delivery The pandemic changed how shoppers think about convenience, but on-demand delivery can only offer so much. [Read the full story »]( The lesson America refuses to learn about Covid-19 and the economy American workers are forced to white-knuckle it once again. [Read the full story »]( More good stuff to read today - [The misery of the Hype House]( - [America doesn’t have enough teachers to keep schools open]( - [The exhausting concept of the “2022 rebrand”]( - [In praise of the humble tote bag]( - [Money has never felt more fake](  [Learn more about RevenueStripe...]( Manage your [email preferences]( or [unsubscribe](param=goods). If you value Vox’s unique explanatory journalism, support our work with a one-time or recurring [contribution](. View our [Privacy Policy]( and our [Terms of Service](. Vox Media, 1201 Connecticut Ave. NW, Floor 11, Washington, DC 20036. Copyright © 2022. All rights reserved.