NFTs have returned to people's view.
The floor price of Pudgy Penguins NFTs increased by nearly 35% in a week, reaching 12.75 ETH, about $38,000; the price of PENGU rose nearly 10 times from the bottom, with a market value exceeding $1.8 billion. This kind of excitement hasn't been seen in the NFT field for a long time.
What’s more surprising is that this price rebound was neither due to a popular narrative nor a collective shout-out from KOLs.
The real starting point was a somewhat excessive 'avatar change movement.'
On that day, major Crypto companies changed to penguin avatars.
On July 12, Coinbase changed its X account avatar to a fat penguin, captioned 'New avatar, who doesn't like it?' Shortly after, several crypto projects such as OpenSea, MoonPay, Polkadot, EigenCloud, OKX, etc., also changed to Pudgy Penguins themed avatars, as if they had rehearsed in advance.
With a series of avatar changes, the NFT floor price rose accordingly, and the trading volume of PENGU also surged immediately. The market's expectations for possible upcoming collaborations quickly heated up. During this peak of avatar changes, core member of the penguin community @broskisol stated: 'I heard that Pudgy Penguins will soon announce the largest collaboration in Web3 history.'
In fact, this is not the first time Pudgy Penguins has made so many well-known projects in the industry stand up for it.
Let's turn back the time to April 26 this year, World Penguin Day.
The official Pudgy Penguins account released a commemorative poster, and then a number of Web3 organizations such as MetaMask, Uniswap, Magic Eden, MoonPay, Phantom, Binance.US, and Gemini joined in, creating a uniform scene that sparked huge discussions.
This collective behavior seems no longer just a meme celebration; it resembles a form of 'position expression': Pudgy Penguins has already become part of the industry's consensus.
Behind this collective appearance is actually the resource network accumulated by Pudgy Penguins over the years in the industry.
Holders of Pudgy Penguins NFTs span across major infrastructure projects, public chains, and investment institutions, covering the nerve endings of Web3. Projects like Dymension, Omni Network, LayerZero, ZkSync, etc., even directly airdropped tokens to Pudgy Penguins NFT Holders.
The ringing of the bell by an old financial person, the appearance of a penguin
And this influence has long been slowly infiltrating traditional finance.
VanEck, an established private investment management company founded in 1955, not only changed its Twitter avatar to Pudgy Penguins as early as 2024 but also brought the fat penguin to the Nasdaq stage on June 23 of this year to ring the opening bell.
It was also on this day that Pudgy Penguins' CEO Luca wrote on his Linkedin: 'Pudgy Penguins is the face of crypto.'
When we mention the word 'finance,' what comes to mind are institutions, cold data, blue and white tones, no emotions, and no visual anchors. Wall Street's bronze bull is too far from young people, bank logos are too boring, and even Elon Musk has to rely on doge memes to maintain attention.
Pudgy Penguins offers another option, an image that can be understood without professional knowledge and is cute enough to attract people.
As the Crypto industry gradually moves towards compliance and mainstream, Web3 is no longer just a club for engineers and VCs. It needs to learn to explain itself to young people on TikTok. An image that is memorable, willing to purchase merchandise, and can be embedded in product app launch pages may determine the future of this industry more than a new protocol.
What Pudgy Penguins wants to do is not just pump NFTs or tokens; they have bigger ambitions. They are competing for a higher-level positioning - who can become the visual spokesperson for the new generation of financial narratives.
Perhaps in the future, Pudgy Penguins will not only be the Face of Crypto but also the Face of Finance.
#PudgyPenguins #pengu #MoonPay
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