China's fertility rate has fallen to a warning level, and it is predicted that China's total population will drop from 1.4 billion to 630 million in the future. In 2025, there will be 7.92 million newborns, the lowest since the founding of the People's Republic in 1949. This is even after the implementation of parenting subsidies. From a small perspective, it reflects a larger trend that can be seen by Web3 industry practitioners: contemporary young people, let alone having children, most of them are not even getting married. The wedding industry, wedding dress studios, early education institutions, and kindergartens have already entered a winter season.