Cards are a cultural product that has rapidly gained popularity among primary and secondary school students in recent years. From early cartoon characters like My Little Pony and Doraemon to today's popular IPs such as Ultraman and Ye Luoli, branded cards, with their exquisite designs, diverse varieties, and unique gameplay, have become objects of pursuit for children.
2024 was a significant year for the rapid development of the "grain economy." Yuewen's derivative product GMV exceeded 500 million yuan, with card GMV exceeding 200 million yuan. Major IPs such as *The King's Avatar*, *Joy of Life*, and *Lord of Mysteries* all achieved record-breaking revenue.
