An interesting case of project evolution: a leading NFT collectible project completed a stunning transformation from virtual to physical in three years. Initially focused on digital avatars, they later introduced an unlocking mechanism to grant holders additional benefits. Subsequently, blind box sales and physical peripheral products were gradually launched. What's the key? They didn't abandon the flexibility of digital assets; instead, they enabled virtual and physical to coexist. The underlying logic is clear — it's not just about the hype of NFTs, but about exploring a new form of collectible economy. The combination of physical + digital is redefining the boundaries of fan economy and community operation.