Executive Summary

Capybobo, a Web3 game within the TON ecosystem, has demonstrated substantial growth in user engagement and revenue through its innovative "digital + physical" collectibles model, with strategic showcases at industry events like WebX 2025.

The Event in Detail

Capybobo has reported significant user acquisition and financial performance, attracting over 2 million users and achieving 460,000+ daily active users (DAU) within five months. During this period, the project generated $2.5 million in in-game revenue, surpassing other GameFi projects within the TON ecosystem. The project is transitioning its operational model from a traditional GameFi approach to a "digital + physical" collectibles ecosystem, offering non-fungible token (NFT) doll outfits that are redeemable for physical items. This initiative includes the debut of PYBOBO trendy clothing, based on game skins, at WebX 2025 in Tokyo, from August 25th to 26th, where Capybobo will present a keynote on building a Web3 native trendy IP. Further participation is scheduled for the LINE NEXT & BGW event on August 24 and the OKJ event on August 26.

In a related development, Capybobo has launched a staking program designed to incentivize community engagement and support for its predecessor, Bombie (BOMB). Approximately 4.5 billion BOMB tokens, representing 45% of the total supply, have been staked in Capybobo. This stake is valued at approximately $4.2 million, based on BOMB trading at $0.00095. The program is part of a $1 million giveaway, rewarding players in Tether (USDT) stablecoin with an approximate 415% Annual Percentage Yield (APY) for staking BOMB in-game. This staking event is scheduled to conclude on July 15, and Capybobo has announced a Q3 2025 airdrop.

Market Implications

Capybobo's shift to a "digital + physical" model signifies a strategic effort to expand the Web3 collectible market by integrating with traditional trendy toy markets. This approach aims to attract a broader user base and demonstrate new real-world utility for NFTs. The rapid growth of the TON collectibles market is further evidenced by successful ventures such as Snoop Dogg's Telegram Gifts, which generated $12 million in 30 minutes, and the emergence of Plush Pepe NFTs. The market has also seen real-world asset integration, such as a Porsche exchanged for Telegram Gifts.

The "digital + physical" strategy finds validation in the success of traditional trendy toy markets, notably Pop Mart's Labubu line. Labubu, characterized by its "ugly-cute" aesthetic, generated $1.93 billion in revenue in the first half of 2025. Labubu NFTs have experienced a 300% year-over-year surge in volume on platforms like Gate NFT, highlighting demand for "programmable emotional assets" among younger demographics. This indicates a broader trend of monetizing cultural virality across both physical and digital markets. Capybobo's strategic debut at WebX 2025 aligns with this trend, aiming to build a Web3 native trendy IP that blurs the lines between physical and digital ownership.

Broader Context

The integration of game experience, physical collectibles, NFT digital assets, and token airdrop incentives positions Capybobo to build a comprehensive trendy toy ecosystem. The successful user adoption and revenue generation, coupled with the substantial staking of BOMB tokens at a high APY, suggest strong community interest and potential for sustained growth. This hybrid model could emerge as a pioneering approach within the TON ecosystem and influence future project development in the Web3 space by demonstrating how digital assets can create tangible value and engage broader consumer markets. The WebX 2025 showcase provides a platform for Capybobo to further solidify its market positioning and attract additional investment and user adoption.