Will the Pudgy Penguins airdrop ignite a renaissance for NFTs?

Bold prediction: this cycle's NFT renaissance, which started with the floor price of apes doubling, will be ignited by the Pudgy Penguins airdrop this month.

As the most symbolic digital consumer product of the 2020s, NFTs have just gone through a bear market that lasted much longer than other sectors. Even now, we cannot completely assert that the NFT bear market has ended, but there are no signs that the NFT space has perished.

On the contrary, new NFT forces represented by Pudgy Penguins and the Commos ecosystem's sloths and Bad Kid are successfully exploring a path of healthy development by emphasizing community building and IP development. This follows the failure of Yuga Labs' infinite fragmentation schemes, with the floor price and liquidity of NFTs continuing to grow against the trend during the bear market cycle.

Looking back at the brief history of Pudgy Penguins, we find that the governance ability of the Huddlers community and commercialization operations are the two key points to Pudgy Penguins' success. The current Pudgy Penguins has transformed into a Web3 brand that possesses both NFT and offline physical toy IP. Alternatively, we can liken it to a Web3 Pop Mart.