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中金公司:卡牌等興趣消費賽道或現結構性增長機遇

中金公司研報認爲,在國內互聯網成熟、娛樂時間趨緊的背景下,卡牌等興趣消費賽道或現結構性增長機遇。這主要由於卡牌受衆廣、羣體年輕,價格門檻低,受情緒價值驅動的消費模式易被撬動,且優質IP感召力強,“谷子文化”培育付費習慣。近年來有越來越多的IP資源方入場,完善了IP卡牌從開發到銷售的鏈路。同時,由於卡牌兼具收藏、社交、投資、競技等屬性,其二手市場的交易活躍度上升,亦催化着行業熱度,未來隨着卡牌二手交易規範評級與收藏體系的成熟,卡牌市場或將進一步釋放價值空間。具備差異化IP儲備和完善運營能力的版權方或具備競爭優勢。

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