This podcast episode explores the world of licensing and merchandising in the animation, comics, and games (ACG) industry. It discusses how creators utilize merchandise to monetize content, expand brand presence, and allow fans to immerse themselves in their favorite ACG worlds. The conversation also delves into the different categories of ACG merchandise, the popularity of collectible goods, the trading culture within the goods circle, and the financial potential of characters in the intellectual property industry. Additionally, it highlights the growing awareness of copyright and legal protection in the domestic market, as well as the recent trend of packaging fees in the food delivery industry in China. Overall, the podcast sheds light on the various aspects and impacts of the ACG merchandise and packaging industry in China.