Original title: (Coverage on Pudgy Penguins, Mad Lads, and CryptoPunks)
Author: OurNetwork
Translation: Deep Tide TechFlow
Comments from the editorial team:
NFTs sparked a craze in 2021, but the market quickly cooled, leading to considerable controversy and reflection. (Rolling Stone) After featuring the Bored Ape image on the cover, they even published an article stating that NFTs are worthless.
However, unexpectedly, some areas of the NFT market remain active. Data shows that as of December 16, the market value of the top 10 NFT projects increased by $2.5 billion in the past 30 days, indicating that the market is undergoing new changes.
NFT Price Floor
Recently, NFT market activity has been frequent, especially as holders of Pudgy Penguins and Lil Pudgys have received approximately $58,000 and $6,000 in returns from the PENGU project, respectively. Currently, the valuation of the PENGU project has reached $2.7 billion. Moreover, Miladys has launched an ecosystem token, and Azukis are also widely believed to be about to launch a similar token reward mechanism.
In the context of ongoing exploration and experimentation with ecosystem tokens, now is a good time to revisit this area of on-chain data that many have abandoned. Let's dive deeper.
NFTs
Pudgy Penguins | Mad Lads | CryptoPunks
Diary | Dashboard
Expectations for airdrops of PENGU, ANIME, and Opensea tokens have pushed the total market value of NFTs close to $11 billion.
Driven by speculation related to PENGU and ANIME tokens, the NFT market has seen significant growth. In the past 30 days, the floor price of Igloo Company's collectibles has increased by three digits—prior to the PENGU airdrop, Pudgy Penguins' price surged by 345%. Meanwhile, Chiru Labs' Azukis also achieved a 170% increase. These gains reflect the market's expectations for token reward mechanisms, which have been proven effective in boosting user engagement in the past. Additionally, rumors about Opensea token airdrops have further bolstered market sentiment.
NFT Price Floor
The brand ranking of NFT Price Floor reveals dynamic changes in the market. Among the top four brands, Igloo Co.'s market value has increased by 377% in the past 30 days, while Chiru Labs has seen a growth of 188%. In contrast, the growth rates of Yuga Labs and Art Blocks are comparatively smaller but still positively influenced by the market.
NFT Price Floor
In the top transactions over the past 7 days, similar trends remain evident. Out of the 12 top transactions, there are 6 Pudgy Penguins and 2 Azukis, with transaction prices ranging from approximately $500,000 to $175,000. This indicates a rapidly increasing focus and demand for Igloo Company and Chiru Labs' collectibles.
NFT Price Floor
Trading Focus: The NFT market has also been influenced by the wave of 'meme culture'. This year, Meme NFT collections like Sproto Gremlins, Milady, and Project Aeon have performed strongly, while the Pepe series continues to dominate the high-end Meme NFT space. In this context, Nakamoto Cards have become the ultimate objective for collectors. Notably, an increasing number of investors are beginning to hoard these cards, exemplified by a recent transaction where a wallet purchased two Nakamoto Cards within just five days. This indicates that demand for top collectibles is heating up.
Pudgy Penguins
Maus | Website | Dashboard
After Pudgy Penguins' floor price broke 30 ETH, it fell back to 16 ETH due to the airdrop.
After the announcement of the PENGU token launch, the floor price of Pudgy Penguins briefly exceeded 30 ETH, more than three times the floor price at the beginning of November, and over half of the historical high price in February 2024. However, after today's airdrop completion, the floor price has fallen back to 16 ETH. Meanwhile, trading volume has significantly increased, reaching up to 8,200 ETH today. As of December 17, each Pudgy is allocated PENGU tokens worth approximately $58,000. Despite the airdrop having begun, the number of buyers continues to grow.
Dune - @mausefalle
Compared to other Ethereum NFT collectibles, Pudgy Penguins have recently gained significant attention. Since early December 2024, their trading volume has accounted for over one-third of the total Ethereum NFT trading volume, a proportion more than double that of other blue-chip NFT collections like CryptoPunks and Bored Apes. On the day of the PENGU airdrop, the trading volume of Pudgy Penguins even accounted for over 50% of the total Ethereum NFT volume.
Dune - @mausefalle
Based on the current floor price, the assets of two-thirds of Pudgy Penguin holders have doubled, with half of the holders seeing returns of over 10 times. Nevertheless, only 5% of holders have sold, while over 19% of holders are still actively accumulating during the floor price correction.
Dune - @mausefalle
Trading Focus: PENGU is the official token of Pudgy Penguins, officially launched on December 17, with a total supply of 88,888,888,888 tokens, and is now listed on major centralized exchanges. So far, over 20% of the tokens have been claimed. Based on the current price, each Pudgy's airdrop is worth approximately $58,000, while each Lil Pudgy's airdrop is worth about $6,000 (data at the time of writing).
Mad Lads
h4wk | Website | Dashboard
Mad Lads' market share has grown by 10%, currently accounting for about 15% of the Solana NFT market, with a floor price of 66 SOL (approximately $15,000).
Over the past month, the Solana NFT market has regained attention, particularly with Mad Lads performing exceptionally well. The market share of this series has increased by 10%, currently accounting for 15% of the Solana NFT market. The current floor price is 66 SOL, approximately $15,000, as Mad Lads continues to solidify its status as a star project, reflecting the resurgence of activity and interest in the entire ecosystem.
Flipside - @h4wk
The trading volume of Solana NFTs has surged in the past month, with an average daily trading volume reaching 16,000 SOL, a 100% increase from before. Flagship collections, including Mad Lads, now account for over 20% of the market share, showing renewed attention and investment enthusiasm for the Solana NFT ecosystem.
Flipside - @h4wk
The number of new buyers for Mad Lads has significantly increased, with accounts making their first purchases rising by 20% over the past week. These new buyers now account for over 50% of total daily buyers, indicating that interest in the series continues to rise and attract more new users.
Flipside - @h4wk
Crypto Punks
Diego Cabral | Website | Dashboard
65% Loyalty: CryptoPunks holders have held on during the NFT bear market for over two years.
As the first iconic NFT collectible series, CryptoPunks, based on 10,000 pixel-style characters, pioneered the PFP (Profile Picture) movement. Despite a continuous decline in price relative to ETH since 2021, CryptoPunks is still regarded as a cultural symbol and maintains a high retention rate among collectors. Data shows that approximately 65% of holders have held their NFTs for over two years, with 59.3% of holders never having sold. This indicates that CryptoPunks holders are more likely to be collectors or long-term investors rather than NFT speculators who seek short-term profits through frequent trading.
Dune - @denze
Dune - @denze
Data also shows that CryptoPunks holders exhibit high loyalty. For example, there are 12 wallets that have held over 20 CryptoPunks for more than 600 days, and 5 wallets have held for even over 1,000 days without making any sales. This reflects the holders' confidence in price rebounds and preference for long-term holding, while also demonstrating their recognition of CryptoPunks' cultural value.
Dune - @denze
Since May 2022, the floor price of CryptoPunks has dropped from 65 ETH to 27 ETH. In contrast, the composite floor price of the top 100 NFT collectible series on Ethereum has fallen from 591 ETH to 61 ETH. CryptoPunks has shown stronger resilience amidst the decline in the popularity of the entire NFT market, indicating that its holders prioritize long-term value over short-term speculation compared to other major collectible series.
Dune - @denze
Trading Focus: The largest transaction in CryptoPunks' history took place on February 12, 2022, when Punk #5822 was sold for 8,000 ETH (then worth over $23 million, now worth over $31 million). The second-largest transaction occurred two years later, in March 2024, when Punk #7804 was sold for 4,850 ETH. Although the current bull market has reignited interest in NFTs, it remains to be seen whether market demand can quickly surpass the record transaction amount of Punk #5822 (which is about 65% higher than the second-largest transaction earlier this year).
