TIMES.KY

Cayman Islands, Caribbeanand International News
Saturday, Jan 28, 2023

ikTok logo seen displayed on a smartphone. Screenshot of TikTok featuring "Dabloons" trend

The Dabloon economy is the latest craze engulfing TikTok: from inflation and debt, to thieves and factions

TikTokers have created a giant fake economy within the app, with millions of participants, using a fabricated currency—Dabloons—and it reflects real-world events.  Millions are part of the Dabloon economy, but the fake currency is suffering from inflation.
Based on the 16th century coin “Doubloons,” the coins can be earned simply by scrolling over a video that gives them out. You then might come across another video, usually containing a cat and the phrase “hello traveler”, that offers goods that you can buy using your Dabloons—things such as weapons, fictional pets and castles. 

The trend originated in 2021 with a nonsensical meme shared by the Instagram account catz.jpeg, in which a picture of a cat was captioned “4 dabloons.” In recent days, however, it has taken on a new life and come to symbolize much more than a whimsical fake currency—it has become an economy reflecting real-life events. 

At first, it was an immensely popular and quirky role-playing game that was easily accessible and had no real rules or consequences. Nothing about Dabloons is real, neither the currency itself nor the items you buy, and you could most definitely cheat in the game (though doing so would largely be pointless, as it’s meant to be non-competitive). 

As the movement grew during October and November, users have taken it to new levels, including tracking how many Dabloons they have in intricate spreadsheets, and even coding their own Dabloon-tracking apps. 


TikTokkers tackle inflation

The freedom of the Dabloon economy is such that anyone can sell items for Dabloons and anyone can make videos that distribute Dabloons—and inevitably, this has led to inflation. 

To combat this, TikTok users have begun enacting fiscal policies around Dabloon use and distribution. These have been almost universally accepted within the app, based on a trust and shame system. One such rule holds that the maximum number of Dabloons that can be given in one video is capped at 100. 

Accounts such as the Dabloon Government and Dabloons HQ also exist to inform and police the Dabloon economy’s incredible growth. 

But not all is rosy. Thieves have emerged, stealing other people’s Dabloons, while victims go into debt. As the role-playing evolves, some users within the Dabloon economy have also split into factions, and some have formed an anti-capitalist revolt. 


Fun or coping?

For many, the Dabloon economy appears to be a fun form of escapism. One Twitter user Marie Lum reacted to the trend, saying: “It’s really creative and fun and I love it, it reminds me of games I used to make up with my friends when I was a kid but this is on a much larger scale.” 

But could it also be a coping mechanism? London-based freelance illustrator and TikTok-user Alice Marcella Williams, 26, told Fortune that she thinks the trend is a reaction by young people to the current economic climate. 

“It’s comedic because it’s directly confronting an active fear and presenting it in an easily safe and defeatable thing,” she said. “It’s TikTok’s comedic answer to the energy crisis and worldwide economic breakdown.” 

Our new weekly Impact Report newsletter will examine how ESG news and trends are shaping the roles and responsibilities of today’s executives—and how they can best navigate those challenges. Subscribe here.
Newsletter

Related Articles

TIMES.KY
Close
0:00
0:00
Tesla reported record profits and record revenues for 2022
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Who’s Threatening Israeli Democracy?
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
Tesla slashes prices globally by as much as 20 percent
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
Saudi Arabia set to overtake India as fastest-growing major economy this year 
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
UK chaos: Hong Kong emigrants duped by false prospectus
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Will Canada ever become a real democracy?
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
EU calls screening of travellers from China unjustified
US imposes Covid testing for visitors from China
Ukraine President Volodymyr Zelenskyy Addresses Joint Session of Congress - FULL SPEECH
If a country is denied the right to independence by another, it is not in a union. It is in a dictatorship.
Where is Rishi? Chancellor Jeremy Hunt's excuses about the UK's economic challenges just don't make sense
Former FTX CEO Bankman-Fried finally arrested in Bahamas after U.S. files charges
Corruption works: House Financial Services Chair Waters doesn't plan to subpoena her donor, Sam Bankman-Fried, to testify at hearing on FTX collapse
Ronaldo's new contract...
Prince William's godmother resigns honorary royal role after exposing her/their racism
British PM Rishi Sunak pledges further action on strikes to 'protect lives'
Tax fraud verdict again exposes illusion of Trump the master businessman
Tax fraud verdict again exposes illusion of Trump the master businessman.
Double standards: UK lawmakers attack EU chief over Ireland claims
Yellen hints at ‘national security’ probe into Twitter purchase
Elon Musk reinstates Donald Trump's Twitter account.
George W. Bush and Barack Obama will hold back-to-back disinformation conferences
Mission Improbable: Tom Cruise & Queen Elizabeth
Miss Argentina and Miss Puerto Rico are not single anymore
×