Pudgy Penguins, born in 2021, attracted a large number of fans with its unique hand-drawn penguin image and warm community culture.
The NFT boom in 2021 was one of them, and then the market gradually cooled down, slowly fading from people's sight. With the improvement of the market, Pudgy Penguins launched physical toys and tokens, allowing more people to participate. Today, the launch of the token brings new opportunities to the NFT market.
The airdrop of Pudgy Penguins and market reaction:
Pudgy Penguins successfully sparked a strong market reaction by airdropping the PENGU token to its NFT holders and specific user groups. When the PENGU token launched, it reached a high of $0.07, with market sentiment soaring.
The challenges of value transmission between NFTs and tokens:
The success of BAYC is not only due to the value of the NFT itself but also because of the strong social effects and celebrity effects behind it. Pudgy Penguins also has certain advantages, especially in community and cultural building, having accumulated a large number of loyal fans. The support of these fans brings additional brand value and market popularity to Pudgy Penguins.
However, despite Pudgy Penguins having a certain foundation in this regard, how to balance the value transmission of NFTs and tokens remains a challenge. The launch of the token, although bringing a huge response to the market in the short term, maintaining long-term value growth is still the key to future success.
Short-term opportunities and long-term potential:
In the short term, Pudgy Penguins faces the potential sell-off after the airdrop. However, the ecosystem behind Pudgy Penguins and the launch of new businesses (like Abstract Chain) may provide long-term support for the project. Especially if Pudgy Penguins can continue to expand its community and ecosystem, there is an opportunity for the token's long-term value to achieve steady growth.
Market performance and future outlook:
Although Pudgy Penguins started late in the NFT market, through active community building and brand expansion, it has gradually established its brand value. With the launch of the PENGU token, Pudgy Penguins can not only further promote the value of its NFTs but also attract more new users to participate.
In the future, Pudgy Penguins may further innovate and break through through Abstract Chain and other cross-chain collaborations. Continuous brand development, community growth, and ecological expansion will be key to determining its future direction. Through these efforts, Pudgy Penguins is expected to occupy a more important position in the NFT market and become a long-term potential project.