Fat Penguin: From Small Image to Cultural Symbol, the New Favorite in the Encryption World

Recently, a special avatar trend has emerged in the encryption community. Multiple well-known projects have changed their social media avatars to cute chubby penguin images, reflecting a collective recognition of the long-term spirit and brand strategy of Pudgy Penguins. This chubby penguin is driving the grassroots experiment in encryption towards mainstream culture.

The Rise of the Fat Penguin Again: The Secret to the "Rebirth" of the Small Image

Recently, Pudgy Penguins has sparked a wave of avatar frenzy in the mainstream encryption circles. Several heavyweight industry institutions have successively changed their official avatars to Pudgy Penguins derivative images. This is not the first time Pudgy Penguins has triggered a collective "head swap" trend. As early as the end of last year, after completing a large-scale airdrop aimed at the community, several well-known institutions were the first to change their avatars to the chubby penguins.

On April 26 this year, World Penguin Day, Pudgy Penguins released a commemorative poster, and several well-known organizations simultaneously responded by releasing profile pictures related to the chubby penguins.

The change of profile pictures across various encryption projects reflects support and recognition for the constructive narrative and long-term culture of Pudgy Penguins. Many founders in the encryption field are holders of Pudgy Penguins NFTs.

Unlike other once-popular but ultimately sluggish small images, the key to Pudgy Penguins' successful business transformation lies in its clear strategic planning, strong operational capabilities, and narrative-building power. Since the NFT market downturn in 2022, Pudgy Penguins has actively engaged in IP licensing and commercial implementation, telling an engaging story about brand building, cultural operations, and long-termism.

Core operator Luca Netz's brand management and operational approach aligns more closely with traditional market aesthetics, which significantly distinguishes it from the insider thinking of many NFT project founders. Pudgy Penguins continuously expands its brand influence by launching a series of physical toys in collaboration with renowned retailers, partnering with top Hollywood talent agencies and children's book publishers, as well as developing gaming products.

They also create viral exposure through mainstream social platforms, participate in high-end art auctions, and host real-world events, significantly enhancing brand visibility and public awareness. According to Luca Netz, as of July this year, the global audience of the Fat Penguin has reached 87.4 million, and it is expected to approach or exceed the target of 100 million by the end of the year.

The operational style of Pudgy Penguins, which is similar to that of traditional enterprises, breaks the stereotype of speculation prevailing in the NFT and even the entire encryption market, demonstrating to the traditional world the true value and extendability of Web3 brands.

More Than Just Ringing the Bell: Opening Mainstream Doors with Traditional Finance

The brand imagination of Pudgy Penguins is not limited to IP narrative creation. A cute penguin character that originally only thrived in the encryption community has unexpectedly appeared on the stage of the traditional financial market. This cross-border initiative is driven by the well-established investment management firm VanEck.

In June last year, VanEck changed its social media avatar to Pudgy Penguins, signaling that traditional financial giants are actively embracing native encryption IPs. Subsequently, VanEck not only used the Pudgy Penguins image in its Ethereum ETF promotional video but also partnered with Pudgy Penguins to ring the opening bell on Nasdaq when launching its DAPP ETF product recently. This marks the first time a Web3 native IP has landed on the global capital market stage, bringing unprecedented brand exposure to Pudgy Penguins and symbolizing its formal recognition in the financial sector.

Matt Bartlett, the head of Web3 at VanEck, explained their reasons for choosing to support Pudgy Penguins. He believes that compared to other NFT projects, Pudgy Penguins have a stronger cultural impact and resonance. They are cute, friendly, and have MEME potential, making them naturally suitable for dissemination. They are friendly enough for brands, children, and a broader mainstream audience, while still maintaining the core spirit native to Web3.

More groundbreaking is that Pudgy Penguins is advancing towards financial products. Currently, exchanges have submitted application documents for the Canary PENGU ETF to the U.S. SEC. If it passes the review smoothly, PENGU will become the first U.S. ETF product to directly hold MEME or NFTs, gradually becoming a core allocation target in mainstream investment portfolios.

As market sentiment is driven, the ecosystem of Pudgy Penguins is also showing an upward trend. Its NFT floor price has reached a new high in nearly half a year, and the price of the token PENGU has also seen significant growth.

From small avatar images to cultural consumption brands, and then to financial asset targets, the comeback story of Pudgy Penguins not only establishes itself as a commercializable, socialized, and even financialized visual asset but also marks a phased victory for the culture of encryption elites.