As an NFT project, Pudgy Penguins has surpassed Bored Ape Yacht Club in market value and has become the second largest NFT project by market value, with a market value of approximately US$772 million. The success and growth of this project can be analyzed from several key aspects.

First, Pudgy Penguins has undergone a major transformation and recovery. In early 2022, the project had experienced difficult times, including a sharp drop in the reserve price and disputes within the team. However, Luca Netz took over Pudgy Penguins in 2022 and successfully turned the situation around. With a background in digital marketing and e-commerce, Netz focused on building the brand, transforming Pudgy Penguins from a simple digital collectible to a globally renowned and beloved brand.

Second, Pudgy Penguins' community building and ecological development are the key to its success. The project team works closely with community members to shape the future of the brand. Community members are not only investors, but also ambassadors of the brand. In addition, Pudgy Penguins has launched its own token $PENGU with a total supply of 88,888,888,888, which will give more fans the opportunity to participate in the project ecosystem. The distribution of tokens focuses on community building and ecological development, showing the importance of the project to the community.

Finally, Pudgy Penguins' market performance is also very strong. For example, its NFT floor price rose by 19.87% in 24 hours to 17.98 ETH, with a market value of approximately US$617 million. This growth reflects the market's recognition and demand for the Pudgy Penguins brand and its NFTs.

Pudgy Penguins has become the second largest NFT project by market value thanks to its effective brand building, community participation and market performance. The success of this project shows the importance of brand building and community participation in the field of cryptocurrency and NFTs.

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