The Fat Penguin Leads a New Trend in Encryption Culture: The Transformation Journey from Small Images to Mainstream Brands

Recently, the crypto community has witnessed a surge in popularity for penguin avatars. Several well-known crypto projects have changed their social media profile pictures to the image of a chubby penguin, reflecting their recognition of the long-term spirit and brand strategy of Pudgy Penguins. As a project that started with NFTs, Pudgy Penguins is gradually pushing grassroots experiments in crypto towards mainstream culture.

The chubby penguin is back in the spotlight. What is the secret behind the "rebirth" of the small image?

Recently, Pudgy Penguins has sparked a wave of profile picture changes in the mainstream crypto community. Several heavyweight industry institutions have unified their official social media account avatars to the Pudgy Penguins derivative images. This is not the first time Pudgy Penguins has triggered a collective "head swap" trend. At the end of last year, after completing a large-scale community airdrop, several well-known institutions changed their avatars to Pudgy Penguins. During World Penguin Day in April this year, another batch of institutions responded to Pudgy Penguins' commemorative activities.

Encryption projects have all switched to the Fat Penguin avatar, not just because of its cute visual image, but more importantly, due to the recognition of the constructive narrative and long-term culture behind it, as well as support for the rise of encryption elite entrepreneurship. Many founders in the encryption field are themselves holders of Fat Penguin NFTs.

Unlike other NFT projects that were once popular but ultimately declined, the key to Pudgy Penguins' success lies in its clear strategic planning, strong operational capabilities, and narrative-building power. During the downturn in the NFT market, Pudgy Penguins actively pursued IP licensing and commercial implementation, showcasing a vivid story about brand building, cultural operations, and long-termism.

The brand management and operational approach of the project's core operator, Luca Netz, is more aligned with traditional markets, which sharply contrasts with the insular thinking of many NFT project founders. Pudgy Penguins continuously infiltrates mainstream culture by launching physical toys in collaboration with mainstream retailers, partnering with entertainment giants to expand content, and developing gaming products.

They also created viral spreads through mainstream social platforms, participated in high-end art auctions, and showcased in locations such as Times Square in New York, significantly increasing brand exposure and public awareness. This multidimensional marketing and communication strategy helped Pudgy Penguins rapidly expand its global influence, with an active audience size reaching millions.

The Web2-style elite enterprise operation model adopted by Pudgy Penguins has broken the stereotype of speculation prevailing in the NFT and the entire cryptocurrency market, showcasing the real value and extensibility of Web3 brands to the traditional world, attracting more and more attention from traditional institutions.

Leverage the power of financial institutions to open the door to mainstream markets

The brand imagination of Pudgy Penguins is not limited to IP narrative creation. Through collaboration with traditional financial giant VanEck, this cute penguin image, which was originally only active in the crypto community, successfully made its way onto the traditional financial market stage.

In June last year, VanEck was the first to change its social media avatar to Pudgy Penguins, signaling that traditional financial giants are beginning to actively embrace native crypto IP. Subsequently, VanEck used the Pudgy Penguins image in its Ethereum ETF promotional video, and when it recently launched its DAPP ETF product, it invited Pudgy Penguins to ring the opening bell on Nasdaq, marking the first appearance of a Web3 native IP on the global capital market stage.

VanEck's support for Pudgy Penguins seems to adopt a strategy of leveraging publicity. On platforms aimed at traditional investors and mainstream media, VanEck introduced the event in a relatively neutral and objective tone. In contrast, on platforms active in the cryptocurrency community, the publicity team of Pudgy Penguins primarily released relevant news, sparking widespread discussion.

Matt Bartlett, the Web3 head at VanEck, explained that people are more focused on culture rather than history. Compared to other NFT projects, Pudgy Penguins possess traits such as being cute, friendly, and having MEME potential, making them easier to spread and accept. They are not only suitable for brands and children but can also attract a broader mainstream audience while maintaining the native spirit of Web3. This culture is easier to share, imitate, and engage with, stimulating public enthusiasm for participation in various forms.

More groundbreaking is that Pudgy Penguins is advancing towards financial products. A trading platform has already submitted an application for the Canary PENGU ETF to the US SEC, and if it passes the review smoothly, PENGU will become the first US ETF product to directly hold MEME or NFT, with the potential to gradually become a core component of mainstream investment portfolios.

As a result, the market sentiment for Pudgy Penguins' ecosystem is soaring. Its NFT floor price has reached a new high in nearly six months, and the price of the token PENGU has also risen significantly, not far from its all-time high.

Overall, Pudgy Penguins has evolved from NFT small images to a cultural consumption brand, and then to a financial asset target. It has not only transformed itself into a commercialized, socialized, and even financialized visual asset but also initiated a phased victory of the crypto elite culture. This comeback story showcases how Web3 projects can achieve a leap from niche circles to the mainstream market through innovative operations and cross-industry collaborations.