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It Turns Out Crypto’s Stablecoin Adoption is Around 1% of Previous Estimates

It Turns Out Crypto’s Stablecoin Adoption is Around 1% of Previous Estimates

Stablecoins were all the rage in 2025. The GENIUS Act provided much needed regulatory clarity for the dollar-pegged crypto tokens, and tech giants like Stripe and Sony got involved with their own related products and services.

President Trump has also reportedly profited handsomely from stablecoins and the crypto sector more generally, although the USD1 stablecoin he’s affiliated with has been at the center of serious corruption allegations. Additionally, Wall Street veteran Tom Lee made headlines by referring to stablecoins as crypto’s ChatGPT moment, echoing a report released by Citi earlier in the year.

The crypto industry often pointed to blockchain data to prove that 2025 was indeed a record year for stablecoins in terms of adoption. However, a new report from McKinsey Financial Services indicates the metrics used to show how much stablecoin adoption had increased in the past few years are extremely misleading.

Raw blockchain transfers are oftentimes pointed to as proof of stablecoin adoption, but the reality is only a small percentage of this activity—around 1% of roughly $35 trillion in total transaction volume—is actually related to real-world payments. This means stablecoin adoption, which the report estimates at $390 billion for 2025, only accounts for around 0.02% of global payments.

According to the report, B2B payments and international remittances account for most of the stablecoin payment activity, and activities such as crypto exchanges moving funds between blockchain accounts, automated activity with smart contracts, and trading on decentralized exchanges should not be included in payment measurements. The report also indicates around 60% of this activity is originating in Asia, adding, “Activity today is driven almost entirely by payments sent from Singapore, Hong Kong, and Japan.”

Of course, overblown or outright false adoption metrics are not new in the crypto world. Various data points, such as increased on-chain activity around decentralized finance (DeFi) apps, can be used to tell all kinds of tall tales. There has also been plenty of hype built around metrics such as transactions per second over the years, which tend to miss the point of what makes this technology valuable.

Despite the clear overstatements in stablecoin payment adoption made by various entities in the crypto industry, the report also indicates there are still signs of real growth. For example, the $390 billion in stablecoin payments occurring in 2025 is more than double what was seen in the previous year. Additionally, the total supply of stablecoins has increased from less than $30 billion in 2020 to more than $300 billion today.

Of course, not all of this was necessarily positive adoption, as a report from blockchain analytics firm Chainalysis indicated that stablecoins now account for the vast majority of illicit crypto transfers. Reports have also pointed to heavy use of Tether’s USDT stablecoin by the Maduro regime, and adoption by the Central Bank of Iran shows why a pro-stablecoin policy in the U.S. is a double-edged sword.

More generally, the prominence of stablecoins in crypto has caused a rift between cypherpunks focused on ideology and fintech startups focused strictly on adoption metrics. While stablecoins were originally seen as a boon for crypto adoption, it’s now gotten to the point where stablecoin issuers are launching their own blockchain infrastructure, adding another layer of centralized control to the tech stack.

While those like the aforementioned Tom Lee see the issuance of stablecoins and other tokens based on real world assets, such as tokenized stocks, as bullish for decentralized crypto networks like Ethereum, questions remain over how much value will accrue to these open protocols or if stablecoin issuers and other centralized entities could successfully cut these networks out of the equation entirely.



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All eyes are on Maine this week. Political operatives in Trumpworld tell Inner Loop they hope embattled senate candidate Graham Platner will stay in the race as long as possible—the state’s electoral chaos can only help Republicans, they claim.

Platner, a US Marine veteran, overcame a string of controversies to easily win the Democratic primary last month. Platner is supposed to face incumbent Republican Susan Collins in the general election in one of the nation’s most closely watched races in November, but a litany of Democratic officials are now calling for him to drop out.

On Monday, a woman in Maine accused Platner of sexual assault and told Politico that he had once forced her to have sex over her objections. (Platner’s campaign did not respond to a request for comment, though it previously denied the allegation in a statement to Politico.)

Platner had previously been accused of mistreating women, had covered up a Nazi tattoo, and was linked to multiple offensive online comments. Over the past 24 hours, Democrats from Senator Bernie Sanders to Senator Chuck Schumer have called for him to step out of the race.

Trumpworld operatives say their hope—unsurprisingly—is that Platner stays in the race, given his increasingly toxic political brand, his growing horde of political enemies in his own party, and the knock-on effects on his fundraising operation.

Basically, it’s a dumpster fire, and Republicans are all but making s’mores.

“Platner should stay in and fight the liberal lobbyist establishment!” one strategist jokingly told Inner Loop. Like others interviewed for this story, they spoke candidly on the condition of anonymity.

Funding is also going to be a problem, operatives noted with glee. The Democratic Senatorial Campaign Committee, or DSCC, has announced that it will not bankroll Platner’s campaign, should he stay in the race.

The operatives are thrilled by this: As a result, Platner would have to rely on small-dollar donors. Despite his fervent fan base, these donations would almost certainly not cover the tens of millions of dollars that both sides are expecting to have to pour into TV ads closer to the midterms. (The Boston-area media market is among the top 10 most expensive in the country, and Mainers do watch TV.)

But Trump operatives also think even if Platner does step aside, the Senate race in Maine firmly tilts in Collins’ favor.

Democrats have until July 13 for Platner to drop out, and a July 27 deadline for a special election to replace Platner’s name on the ballot. Democratic operatives in the state tell Inner Loop this could happen the weekend of July 25, but Trumpworld doesn’t think the alternative candidates would pose a major challenge.

Janet Mills, the governor of Maine who dropped out of the Democratic Senate primary, is seen as one option. But Mills has a similar profile to Collins, who the operatives still think would edge out a victory, especially given her performance bucking Joe Biden in 2020.

Another option is Troy Jackson, a former Maine state senator. But another longtime GOP strategist was skeptical whether voters would look past the baggage accompanying any Democratic candidate following the Platner saga.

“At the end of the day, Democrats have to run a perfect race to beat Collins, which they have not done. She’s still the least offensive candidate of the Senate Republican conference, and so the strongest candidate we could have in the race,” one longtime GOP strategist says.

Still, Trumpworld and the Republicans’ Senate campaign arm expect a bruising fight in the Maine Senate race that could cost them hundreds of millions of dollars. And while they believe Collins can win, it could end up being tight. Get the graham crackers.


This is an edition of Hugo Lowell’s Inner Loop newsletter. Read previous newsletters here.

#Republicans #Gleefully #Celebrate #Midterms #Chaos #Maineinner loop,politics,congress,elections,government,republicans,democrats">Republicans Gleefully Celebrate Midterms Chaos in MaineAll eyes are on Maine this week. Political operatives in Trumpworld tell Inner Loop they hope embattled senate candidate Graham Platner will stay in the race as long as possible—the state’s electoral chaos can only help Republicans, they claim.Platner, a US Marine veteran, overcame a string of controversies to easily win the Democratic primary last month. Platner is supposed to face incumbent Republican Susan Collins in the general election in one of the nation’s most closely watched races in November, but a litany of Democratic officials are now calling for him to drop out.On Monday, a woman in Maine accused Platner of sexual assault and told Politico that he had once forced her to have sex over her objections. (Platner’s campaign did not respond to a request for comment, though it previously denied the allegation in a statement to Politico.)Platner had previously been accused of mistreating women, had covered up a Nazi tattoo, and was linked to multiple offensive online comments. Over the past 24 hours, Democrats from Senator Bernie Sanders to Senator Chuck Schumer have called for him to step out of the race.Trumpworld operatives say their hope—unsurprisingly—is that Platner stays in the race, given his increasingly toxic political brand, his growing horde of political enemies in his own party, and the knock-on effects on his fundraising operation.Basically, it’s a dumpster fire, and Republicans are all but making s’mores.“Platner should stay in and fight the liberal lobbyist establishment!” one strategist jokingly told Inner Loop. Like others interviewed for this story, they spoke candidly on the condition of anonymity.Funding is also going to be a problem, operatives noted with glee. The Democratic Senatorial Campaign Committee, or DSCC, has announced that it will not bankroll Platner’s campaign, should he stay in the race.The operatives are thrilled by this: As a result, Platner would have to rely on small-dollar donors. Despite his fervent fan base, these donations would almost certainly not cover the tens of millions of dollars that both sides are expecting to have to pour into TV ads closer to the midterms. (The Boston-area media market is among the top 10 most expensive in the country, and Mainers do watch TV.)But Trump operatives also think even if Platner does step aside, the Senate race in Maine firmly tilts in Collins’ favor.Democrats have until July 13 for Platner to drop out, and a July 27 deadline for a special election to replace Platner’s name on the ballot. Democratic operatives in the state tell Inner Loop this could happen the weekend of July 25, but Trumpworld doesn’t think the alternative candidates would pose a major challenge.Janet Mills, the governor of Maine who dropped out of the Democratic Senate primary, is seen as one option. But Mills has a similar profile to Collins, who the operatives still think would edge out a victory, especially given her performance bucking Joe Biden in 2020.Another option is Troy Jackson, a former Maine state senator. But another longtime GOP strategist was skeptical whether voters would look past the baggage accompanying any Democratic candidate following the Platner saga.“At the end of the day, Democrats have to run a perfect race to beat Collins, which they have not done. She’s still the least offensive candidate of the Senate Republican conference, and so the strongest candidate we could have in the race,” one longtime GOP strategist says.Still, Trumpworld and the Republicans’ Senate campaign arm expect a bruising fight in the Maine Senate race that could cost them hundreds of millions of dollars. And while they believe Collins can win, it could end up being tight. Get the graham crackers.This is an edition of Hugo Lowell’s Inner Loop newsletter. Read previous newsletters here.#Republicans #Gleefully #Celebrate #Midterms #Chaos #Maineinner loop,politics,congress,elections,government,republicans,democrats

senate candidate Graham Platner will stay in the race as long as possible—the state’s electoral chaos can only help Republicans, they claim.

Platner, a US Marine veteran, overcame a string of controversies to easily win the Democratic primary last month. Platner is supposed to face incumbent Republican Susan Collins in the general election in one of the nation’s most closely watched races in November, but a litany of Democratic officials are now calling for him to drop out.

On Monday, a woman in Maine accused Platner of sexual assault and told Politico that he had once forced her to have sex over her objections. (Platner’s campaign did not respond to a request for comment, though it previously denied the allegation in a statement to Politico.)

Platner had previously been accused of mistreating women, had covered up a Nazi tattoo, and was linked to multiple offensive online comments. Over the past 24 hours, Democrats from Senator Bernie Sanders to Senator Chuck Schumer have called for him to step out of the race.

Trumpworld operatives say their hope—unsurprisingly—is that Platner stays in the race, given his increasingly toxic political brand, his growing horde of political enemies in his own party, and the knock-on effects on his fundraising operation.

Basically, it’s a dumpster fire, and Republicans are all but making s’mores.

“Platner should stay in and fight the liberal lobbyist establishment!” one strategist jokingly told Inner Loop. Like others interviewed for this story, they spoke candidly on the condition of anonymity.

Funding is also going to be a problem, operatives noted with glee. The Democratic Senatorial Campaign Committee, or DSCC, has announced that it will not bankroll Platner’s campaign, should he stay in the race.

The operatives are thrilled by this: As a result, Platner would have to rely on small-dollar donors. Despite his fervent fan base, these donations would almost certainly not cover the tens of millions of dollars that both sides are expecting to have to pour into TV ads closer to the midterms. (The Boston-area media market is among the top 10 most expensive in the country, and Mainers do watch TV.)

But Trump operatives also think even if Platner does step aside, the Senate race in Maine firmly tilts in Collins’ favor.

Democrats have until July 13 for Platner to drop out, and a July 27 deadline for a special election to replace Platner’s name on the ballot. Democratic operatives in the state tell Inner Loop this could happen the weekend of July 25, but Trumpworld doesn’t think the alternative candidates would pose a major challenge.

Janet Mills, the governor of Maine who dropped out of the Democratic Senate primary, is seen as one option. But Mills has a similar profile to Collins, who the operatives still think would edge out a victory, especially given her performance bucking Joe Biden in 2020.

Another option is Troy Jackson, a former Maine state senator. But another longtime GOP strategist was skeptical whether voters would look past the baggage accompanying any Democratic candidate following the Platner saga.

“At the end of the day, Democrats have to run a perfect race to beat Collins, which they have not done. She’s still the least offensive candidate of the Senate Republican conference, and so the strongest candidate we could have in the race,” one longtime GOP strategist says.

Still, Trumpworld and the Republicans’ Senate campaign arm expect a bruising fight in the Maine Senate race that could cost them hundreds of millions of dollars. And while they believe Collins can win, it could end up being tight. Get the graham crackers.


This is an edition of Hugo Lowell’s Inner Loop newsletter. Read previous newsletters here.

#Republicans #Gleefully #Celebrate #Midterms #Chaos #Maineinner loop,politics,congress,elections,government,republicans,democrats">Republicans Gleefully Celebrate Midterms Chaos in Maine

All eyes are on Maine this week. Political operatives in Trumpworld tell Inner Loop they hope embattled senate candidate Graham Platner will stay in the race as long as possible—the state’s electoral chaos can only help Republicans, they claim.

Platner, a US Marine veteran, overcame a string of controversies to easily win the Democratic primary last month. Platner is supposed to face incumbent Republican Susan Collins in the general election in one of the nation’s most closely watched races in November, but a litany of Democratic officials are now calling for him to drop out.

On Monday, a woman in Maine accused Platner of sexual assault and told Politico that he had once forced her to have sex over her objections. (Platner’s campaign did not respond to a request for comment, though it previously denied the allegation in a statement to Politico.)

Platner had previously been accused of mistreating women, had covered up a Nazi tattoo, and was linked to multiple offensive online comments. Over the past 24 hours, Democrats from Senator Bernie Sanders to Senator Chuck Schumer have called for him to step out of the race.

Trumpworld operatives say their hope—unsurprisingly—is that Platner stays in the race, given his increasingly toxic political brand, his growing horde of political enemies in his own party, and the knock-on effects on his fundraising operation.

Basically, it’s a dumpster fire, and Republicans are all but making s’mores.

“Platner should stay in and fight the liberal lobbyist establishment!” one strategist jokingly told Inner Loop. Like others interviewed for this story, they spoke candidly on the condition of anonymity.

Funding is also going to be a problem, operatives noted with glee. The Democratic Senatorial Campaign Committee, or DSCC, has announced that it will not bankroll Platner’s campaign, should he stay in the race.

The operatives are thrilled by this: As a result, Platner would have to rely on small-dollar donors. Despite his fervent fan base, these donations would almost certainly not cover the tens of millions of dollars that both sides are expecting to have to pour into TV ads closer to the midterms. (The Boston-area media market is among the top 10 most expensive in the country, and Mainers do watch TV.)

But Trump operatives also think even if Platner does step aside, the Senate race in Maine firmly tilts in Collins’ favor.

Democrats have until July 13 for Platner to drop out, and a July 27 deadline for a special election to replace Platner’s name on the ballot. Democratic operatives in the state tell Inner Loop this could happen the weekend of July 25, but Trumpworld doesn’t think the alternative candidates would pose a major challenge.

Janet Mills, the governor of Maine who dropped out of the Democratic Senate primary, is seen as one option. But Mills has a similar profile to Collins, who the operatives still think would edge out a victory, especially given her performance bucking Joe Biden in 2020.

Another option is Troy Jackson, a former Maine state senator. But another longtime GOP strategist was skeptical whether voters would look past the baggage accompanying any Democratic candidate following the Platner saga.

“At the end of the day, Democrats have to run a perfect race to beat Collins, which they have not done. She’s still the least offensive candidate of the Senate Republican conference, and so the strongest candidate we could have in the race,” one longtime GOP strategist says.

Still, Trumpworld and the Republicans’ Senate campaign arm expect a bruising fight in the Maine Senate race that could cost them hundreds of millions of dollars. And while they believe Collins can win, it could end up being tight. Get the graham crackers.


This is an edition of Hugo Lowell’s Inner Loop newsletter. Read previous newsletters here.

#Republicans #Gleefully #Celebrate #Midterms #Chaos #Maineinner loop,politics,congress,elections,government,republicans,democrats

After a decade of surprise-filled unboxings, L.O.L. Surprise! is stepping onto the main stage. The collectible toy brand is celebrating its 10th anniversary with the L.O.L. Surprise! Music Festival, a yearlong campaign packed with new dolls, festival-inspired collectibles, and headline-worthy collaborations.

The biggest draw? Music icons Jennie from BLACKPINK and Rosalía are making their L.O.L. Surprise! doll debuts with collectible looks inspired by their signature styles. Beyond the artist collaborations, the lineup brings new doll looks, refreshed packaging, and a range of festival-themed collectibles for fans to discover.

Here’s everything launching in the L.O.L. Surprise! Music Festival collection and where to buy it.

Music Festival Tots with Collectible Vinyl Albums

Why we like it

The L.O.L. Surprise! Music Festival Tots brings the music theme to life with eight dolls inspired by different genres, including K-pop, Latin, pop, hip-hop, country, indie, pop-punk, and scene.

Each Tot comes inside a pink disco ball that doubles as a collectible display piece and a mini reveal experience — spin the included vinyl record to open compartments filled with fashion and accessories. With fresh doll designs, seven surprises to unbox, and a chance to find a rare shiny disco ball, these are made for collectors who enjoy the thrill of the reveal.

Music Festival Headliners Tots Global Music Artist Dolls

Why we like it

If your kid (or your inner collector) has a favorite music icon, these L.O.L. Surprise! Music Festival Headliners Tots bring that fan energy into a tiny collectible package. Each Tot is inspired by the style of Jennie or Rosalía, featuring cool outfits based on their real-world looks, plus a mini poster and a collectible trading card to enhance the experience.

The heart-shaped L.O.L. ball doubles as a keychain, so fans can take their favorite artist-inspired Tot anywhere. With seven surprises to unbox, including outfits, shoes, and accessories, there’s plenty of reveal excitement before the tiny headliner hits the stage. Collect all four Tots to build out the full Music Festival lineup.

Music Festival Furniture Packs

Why we like it

The L.O.L. Surprise! Music Festival Furniture Packs are a fun way to turn the collection into a full-on festival setup. Instead of just collecting dolls, kids can build out their own mini concert world with spaces like the Main Stage, DJ Booth, Neon Arcade, and Roller Disco. Each pack also comes with an exclusive Tot, giving collectors another character to add to the lineup.

Rosalía Fashion Doll with Collectible Poster

Why we like it

Rosalía fans will instantly recognize the bold, trendy vibe behind this L.O.L. Surprise! Rosalía Fashion Doll. The look is inspired by one of Rosalía’s iconic outfits, with a bold style that feels very much like the singer’s stage persona. It also comes with an exclusive Rosalía poster, making it a fun pick for both collectors and fans who want a little piece of her stage style on display.

Jennie Fashion Doll with Collectible Poster

Why we like it

L.O.L. Surprise! is bringing a little star power to the toy aisle with this Jennie-inspired fashion doll. It captures her signature style with a more detailed look, a stage-ready outfit inspired by one of her real outfits, and a collectible poster tucked inside for fans to display. Fans snapped this one up quickly, so don’t be surprised if you have to wait for the next restock.

#L.O.L #Surprise #Music #Festival #collection #buy #Jennie #Rosalía #dolls">L.O.L. Surprise! Music Festival collection: Where to buy Jennie and Rosalía dolls
                                                            
After a decade of surprise-filled unboxings, L.O.L. Surprise! is stepping onto the main stage. The collectible toy brand is celebrating its 10th anniversary with the L.O.L. Surprise! Music Festival, a yearlong campaign packed with new dolls, festival-inspired collectibles, and headline-worthy collaborations.The biggest draw? Music icons Jennie from BLACKPINK and Rosalía are making their L.O.L. Surprise! doll debuts with collectible looks inspired by their signature styles. Beyond the artist collaborations, the lineup brings new doll looks, refreshed packaging, and a range of festival-themed collectibles for fans to discover.Here’s everything launching in the L.O.L. Surprise! Music Festival collection and where to buy it.Music Festival Tots with Collectible Vinyl Albums
Why we like itThe L.O.L. Surprise! Music Festival Tots brings the music theme to life with eight dolls inspired by different genres, including K-pop, Latin, pop, hip-hop, country, indie, pop-punk, and scene. Each Tot comes inside a pink disco ball that doubles as a collectible display piece and a mini reveal experience — spin the included vinyl record to open compartments filled with fashion and accessories. With fresh doll designs, seven surprises to unbox, and a chance to find a rare shiny disco ball, these are made for collectors who enjoy the thrill of the reveal.Music Festival Headliners Tots Global Music Artist Dolls
Why we like itIf your kid (or your inner collector) has a favorite music icon, these L.O.L. Surprise! Music Festival Headliners Tots bring that fan energy into a tiny collectible package. Each Tot is inspired by the style of Jennie or Rosalía, featuring cool outfits based on their real-world looks, plus a mini poster and a collectible trading card to enhance the experience.The heart-shaped L.O.L. ball doubles as a keychain, so fans can take their favorite artist-inspired Tot anywhere. With seven surprises to unbox, including outfits, shoes, and accessories, there’s plenty of reveal excitement before the tiny headliner hits the stage. Collect all four Tots to build out the full Music Festival lineup.
Music Festival Furniture Packs
Why we like itThe L.O.L. Surprise! Music Festival Furniture Packs are a fun way to turn the collection into a full-on festival setup. Instead of just collecting dolls, kids can build out their own mini concert world with spaces like the Main Stage, DJ Booth, Neon Arcade, and Roller Disco. Each pack also comes with an exclusive Tot, giving collectors another character to add to the lineup. 
        
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Rosalía Fashion Doll with Collectible Poster
Why we like itRosalía fans will instantly recognize the bold, trendy vibe behind this L.O.L. Surprise! Rosalía Fashion Doll. The look is inspired by one of Rosalía’s iconic outfits, with a bold style that feels very much like the singer’s stage persona. It also comes with an exclusive Rosalía poster, making it a fun pick for both collectors and fans who want a little piece of her stage style on display.Jennie Fashion Doll with Collectible Poster
Why we like itL.O.L. Surprise! is bringing a little star power to the toy aisle with this Jennie-inspired fashion doll. It captures her signature style with a more detailed look, a stage-ready outfit inspired by one of her real outfits, and a collectible poster tucked inside for fans to display. Fans snapped this one up quickly, so don’t be surprised if you have to wait for the next restock.

                    
                                            
                            
                        
                                    #L.O.L #Surprise #Music #Festival #collection #buy #Jennie #Rosalía #dolls

L.O.L. Surprise! Music Festival, a yearlong campaign packed with new dolls, festival-inspired collectibles, and headline-worthy collaborations.

The biggest draw? Music icons Jennie from BLACKPINK and Rosalía are making their L.O.L. Surprise! doll debuts with collectible looks inspired by their signature styles. Beyond the artist collaborations, the lineup brings new doll looks, refreshed packaging, and a range of festival-themed collectibles for fans to discover.

Here’s everything launching in the L.O.L. Surprise! Music Festival collection and where to buy it.

Music Festival Tots with Collectible Vinyl Albums

Why we like it

The L.O.L. Surprise! Music Festival Tots brings the music theme to life with eight dolls inspired by different genres, including K-pop, Latin, pop, hip-hop, country, indie, pop-punk, and scene.

Each Tot comes inside a pink disco ball that doubles as a collectible display piece and a mini reveal experience — spin the included vinyl record to open compartments filled with fashion and accessories. With fresh doll designs, seven surprises to unbox, and a chance to find a rare shiny disco ball, these are made for collectors who enjoy the thrill of the reveal.

Music Festival Headliners Tots Global Music Artist Dolls

Why we like it

If your kid (or your inner collector) has a favorite music icon, these L.O.L. Surprise! Music Festival Headliners Tots bring that fan energy into a tiny collectible package. Each Tot is inspired by the style of Jennie or Rosalía, featuring cool outfits based on their real-world looks, plus a mini poster and a collectible trading card to enhance the experience.

The heart-shaped L.O.L. ball doubles as a keychain, so fans can take their favorite artist-inspired Tot anywhere. With seven surprises to unbox, including outfits, shoes, and accessories, there’s plenty of reveal excitement before the tiny headliner hits the stage. Collect all four Tots to build out the full Music Festival lineup.

Music Festival Furniture Packs

Why we like it

The L.O.L. Surprise! Music Festival Furniture Packs are a fun way to turn the collection into a full-on festival setup. Instead of just collecting dolls, kids can build out their own mini concert world with spaces like the Main Stage, DJ Booth, Neon Arcade, and Roller Disco. Each pack also comes with an exclusive Tot, giving collectors another character to add to the lineup.

Rosalía Fashion Doll with Collectible Poster

Why we like it

Rosalía fans will instantly recognize the bold, trendy vibe behind this L.O.L. Surprise! Rosalía Fashion Doll. The look is inspired by one of Rosalía’s iconic outfits, with a bold style that feels very much like the singer’s stage persona. It also comes with an exclusive Rosalía poster, making it a fun pick for both collectors and fans who want a little piece of her stage style on display.

Jennie Fashion Doll with Collectible Poster

Why we like it

L.O.L. Surprise! is bringing a little star power to the toy aisle with this Jennie-inspired fashion doll. It captures her signature style with a more detailed look, a stage-ready outfit inspired by one of her real outfits, and a collectible poster tucked inside for fans to display. Fans snapped this one up quickly, so don’t be surprised if you have to wait for the next restock.

#L.O.L #Surprise #Music #Festival #collection #buy #Jennie #Rosalía #dolls">L.O.L. Surprise! Music Festival collection: Where to buy Jennie and Rosalía dolls

After a decade of surprise-filled unboxings, L.O.L. Surprise! is stepping onto the main stage. The collectible toy brand is celebrating its 10th anniversary with the L.O.L. Surprise! Music Festival, a yearlong campaign packed with new dolls, festival-inspired collectibles, and headline-worthy collaborations.

The biggest draw? Music icons Jennie from BLACKPINK and Rosalía are making their L.O.L. Surprise! doll debuts with collectible looks inspired by their signature styles. Beyond the artist collaborations, the lineup brings new doll looks, refreshed packaging, and a range of festival-themed collectibles for fans to discover.

Here’s everything launching in the L.O.L. Surprise! Music Festival collection and where to buy it.

Music Festival Tots with Collectible Vinyl Albums

Why we like it

The L.O.L. Surprise! Music Festival Tots brings the music theme to life with eight dolls inspired by different genres, including K-pop, Latin, pop, hip-hop, country, indie, pop-punk, and scene.

Each Tot comes inside a pink disco ball that doubles as a collectible display piece and a mini reveal experience — spin the included vinyl record to open compartments filled with fashion and accessories. With fresh doll designs, seven surprises to unbox, and a chance to find a rare shiny disco ball, these are made for collectors who enjoy the thrill of the reveal.

Music Festival Headliners Tots Global Music Artist Dolls

Why we like it

If your kid (or your inner collector) has a favorite music icon, these L.O.L. Surprise! Music Festival Headliners Tots bring that fan energy into a tiny collectible package. Each Tot is inspired by the style of Jennie or Rosalía, featuring cool outfits based on their real-world looks, plus a mini poster and a collectible trading card to enhance the experience.

The heart-shaped L.O.L. ball doubles as a keychain, so fans can take their favorite artist-inspired Tot anywhere. With seven surprises to unbox, including outfits, shoes, and accessories, there’s plenty of reveal excitement before the tiny headliner hits the stage. Collect all four Tots to build out the full Music Festival lineup.

Music Festival Furniture Packs

Why we like it

The L.O.L. Surprise! Music Festival Furniture Packs are a fun way to turn the collection into a full-on festival setup. Instead of just collecting dolls, kids can build out their own mini concert world with spaces like the Main Stage, DJ Booth, Neon Arcade, and Roller Disco. Each pack also comes with an exclusive Tot, giving collectors another character to add to the lineup.

Rosalía Fashion Doll with Collectible Poster

Why we like it

Rosalía fans will instantly recognize the bold, trendy vibe behind this L.O.L. Surprise! Rosalía Fashion Doll. The look is inspired by one of Rosalía’s iconic outfits, with a bold style that feels very much like the singer’s stage persona. It also comes with an exclusive Rosalía poster, making it a fun pick for both collectors and fans who want a little piece of her stage style on display.

Jennie Fashion Doll with Collectible Poster

Why we like it

L.O.L. Surprise! is bringing a little star power to the toy aisle with this Jennie-inspired fashion doll. It captures her signature style with a more detailed look, a stage-ready outfit inspired by one of her real outfits, and a collectible poster tucked inside for fans to display. Fans snapped this one up quickly, so don’t be surprised if you have to wait for the next restock.

#L.O.L #Surprise #Music #Festival #collection #buy #Jennie #Rosalía #dolls

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