Tulip Mania was a period in 1635 in the Dutch Republic where the demand for tulip bulbs soared dramatically, leading to a market frenzy. Tulips became status symbols, exchanged for large amounts of money, land, or valuable goods. It is often cited as an early example of market speculation, demonstrating how novelty and fashion can drive economic behavior. The event's cultural impact persists in the Netherlands, where tulips are emblematic of Dutch heritage.