Core Insights - The article highlights the success of Yao Runhao, the founder of Paper Games, in understanding and catering to the emotional needs and aesthetic preferences of female gamers through various games and products [1][2][4]. Company Overview - Paper Games has developed several successful games targeting female players, including "Miracle Nikki" and "Love and Producer," with the "Nikki" IP registering over 200 million users [1][2]. - The company has generated significant revenue, with "Miracle Nikki" alone accumulating $620 million since its launch in 2015 [1]. Product Expansion - Yao Runhao is expanding into the blind box market with the launch of the "DearNikki" brand, leveraging the popularity of the "Nikki" IP [1][4]. - The first blind box series, "Dream Weaving Prologue," has sold over 80,000 units on Tmall, indicating strong demand among fans [6]. Market Positioning - The "Nikki" series has been a successful entry point for Paper Games into the blind box sector, benefiting from established brand recognition and a loyal user base [4][6]. - The blind boxes are priced at 79 yuan each and feature unique designs that appeal to a wide demographic, including students and working women [4]. Competitive Landscape - The gaming market for female-oriented titles is becoming increasingly competitive, with major players like Tencent and NetEase entering the space [11]. - Paper Games is responding by launching new IPs and original games, such as "Love in Deep Space" and "Infinite Nikki," to maintain its market position [11]. Financial Performance - The company is projected to achieve approximately $1 billion in revenue for 2024, showcasing its strong financial growth [10]. - Paper Games has not disclosed any new funding rounds since 2015, indicating a robust self-sustaining business model [10]. Future Prospects - Yao Runhao is exploring new game genres, including an action RPG titled "All Things Contract," which is expected to launch in 2025 [11][13]. - The company is also diversifying its product offerings by developing various entertainment-related projects, including an animated film and potential merchandise [15][17].

Core Insights - The article discusses the emergence of a new player in the trendy toy market, specifically the launch of the "DearNikki" brand by Paper Games, which has quickly gained traction in the market [1][2] - The "谷子经济" (Guzi Economy) is projected to experience significant growth, with the market size expected to reach 1.689 trillion yuan in 2024, reflecting a year-on-year increase of over 40% [2] - The emotional connection and engagement of female gamers with their favorite IPs are highlighted as key drivers for the success of trendy toys, particularly in the context of the "DearNikki" brand [10][15] Summary by Sections Market Performance - The "叠纸心意" flagship store topped the "618天猫潮玩抢先成交榜" (618 Tmall Trendy Toy Pre-sale Ranking) ahead of established brands like Pop Mart and miHoYo [1] - The "DearNikki" brand launched on June 1, with over 70,000 blind boxes sold, generating a transaction volume exceeding 5.53 million yuan [1] Brand Strategy - "DearNikki" focuses on female consumers, leveraging the emotional resonance of the "暖暖" IP, which allows for a unique approach to trendy toys by emphasizing emotional connection over traditional design aesthetics [3][6] - The brand's strategy includes a diverse range of products, with plans to expand into various categories such as model toys, anime merchandise, and tabletop games [3] Consumer Engagement - The emotional investment of players in the "暖暖" character creates a strong community, enhancing the appeal of the blind boxes as a means of emotional connection [6][10] - The success of the "DearNikki" blind boxes indicates a robust market for female-oriented trendy toys, with significant purchasing power demonstrated during the 618 sales event [8][10] Industry Trends - The article notes a shift towards self-owned IP models in the trendy toy market, which allows for deeper emotional connections and brand loyalty compared to traditional licensing models [15] - The potential for the trendy toy sector to become a secondary revenue stream for female-oriented mobile games is discussed, with the "谷子经济" serving as a catalyst for this growth [7][15]