Why Character Artists Are Embracing AI (And Why You Should Too)
The Rapid Growth of the IP Character Market
The IP character market is rapidly growing, and we all know the character entertainment market is massive. According to Overnight lines, mall fights and instant sellouts: Labubu toy mania comes to America Pop Mart reported record revenue of $638.5 million for the first half of 2024, a 62% increase over the same period a year earlier. Sales in its burgeoning North America segment totaled $24.9 million.
You’ve likely seen some of Pop Mart’s famous IP characters, such as Labubu, Molly, and Bobo & Coco. These IP characters are driving the creation of numerous derivatives, including toys, NFTs, avatars, digital twins, virtual pets, and 3D-printed artifacts.