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NFT sales nosedive to $104.5m, CryptoPunks sales in green
NFT Gaming

NFT sales jump to $129.1m, Pudgy Penguins recover 15%

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The NFT market has posted solid growth with sales volume rising by 8.13% to $129.1 million. This is the third consecutive week of gains, despite the weakness in the crypto market.

Summary

  • NFT sales posted 8% growth to $129.1 million marking three consecutive weeks of gains
  • Market participation surged with buyer counts more than doubling and seller counts rising 140%
  • BNB Chain surged to second place in blockchain rankings with nearly 200% growth

According to data from CryptoSlam, market participation has expanded with NFT buyers surging by 112.37% to 587,381, and NFT sellers rising by 140.76% to 496,112. NFT transactions have declined by 7.99% to 2,088,311.

The market has been tumultuous as Bitcoin (BTC) price has dropped to the $119,000 level. At the same time, Ethereum (ETH) has dropped to the $4,000 level.

The global crypto market cap is now $3.78 trillion, down from last week’s market cap of $4.04 trillion.

BNB Chain surges to second position

Ethereum has maintained its leading position with $45.2 million in sales, though posting minimal growth of 1.49%. Ethereum’s wash trading has decreased by 10.26% to $8.9 million.

BNB Chain (BNB) has surged to second place with $25.5 million, surging by 197.21%.

Source: Blockchains by NFT Sales Volume (CryptoSlam)

Base has climbed to third position with $13.7 million, though declining 0.02%. Mythos Chain holds fourth place with $11 million, falling 11.11%.

Bitcoin sits in fifth with $7.8 million, declining 25.73%. Immutable (IMX) occupies sixth with $6.3 million, down 24.83%.

Solana (SOL) holds seventh with $5.2 million, falling 28.38%. Polygon (POL) rounds out the top eight with $4.1 million, declining 29.45%.

The buyer count has increased across most blockchains, with Ethereum leading at 129.93% growth, followed by BNB Chain at 10.49% and Solana at 38.59%.

Pudgy Penguins rise 15%

Vesting NFT on BNB Chain has taken the top spot in collection rankings with $17.9 million in sales, showing no change from the previous period. The collection is dominated by a single seller with 22 buyers.

DX Terminal on Base has climbed to second place with $8.6 million, declining 3.55%. The collection has seen decreases in buyers (17.18%) and sellers (16.64%).

DMarket holds third position with $5.9 million, falling 17.73%. Moonbirds sits in fourth with $5.5 million, rising 30.44%.

DKTNFT on BNB Chain occupies fifth place with $3.6 million, declining 3.49%. Panini America holds sixth with $3.6 million, up 40.19%.

Guild of Guardians Heroes sits in seventh with $3.5 million, falling 23.82%. Pudgy Penguins completes the top eight with $3.4 million, rising 15.21%.

Notable high-value sales from this week include:

  • CryptoPunks #9286 sold for 48.97 ETH ($220,299)
  • CryptoPunks #6482 sold for 48.89 ETH ($218,454)
  • CryptoPunks #2406 sold for 48.85 ETH ($217,892)
  • BOOGLE sold for 950 SOL ($205,400)
  • CryptoPunks #3091 sold for 48 ETH ($201,125)



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GameFi Guides

Pudgy Penguins’ PENGU Up Double Digits as Predictors Bullish On Upward Momentum

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In brief

  • PENGU has jumped by double digits over the past 24 hours, following its appearance in the earnings report of a publicly traded digital asset exchange.
  • Predictors on Myriad think it’s likely that the meme coin will climb an extra 34% to $0.05, rather than dipping to $0.02.
  • The Pudgy Penguins’ NFT collection has traded mostly flat over the past week and remains significantly down from its all-time high.

PENGU, the Solana meme coin for the Pudgy Penguins NFT collection, has jumped double digits over the past 24 hours to $0.037. Predictors on Myriad, a prediction market developed by Decrypt’s parent company Dastan, are now bullish that it’ll climb an extra 34% to $0.05.

Per CoinGecko data, PENGU is up 12% on the day to $0.0377, having risen by 10.2% over the past week. It is now down 45% from its all-time high of $0.06, set in December 2024. The move has widened expectations on Myriad that PENGU will hit $0.05 a piece rather than dropping to $0.02, with predictors placing a 67% chance on its upward move—up from 57% on Wednesday.



The pump follows PENGU’s featuring in the latest earnings report from Bullish, a publicly traded digital asset exchange. The report highlighted Pudgy Penguins’ Walmart toy sales, the recent launch of the Pudgy Party mobile game, and called it the “mascot of crypto.”

“The Pudgy Penguins profile picture has become a crypto phenomenon and [is] used by Solana, VanEck, Bitwise, Tom Lee, Mike Novogratz, Coinbase, and many other prominent crypto companies and personalities,” the report said.

It’s not all bullish news for Pudgy Penguins, though. Predictors think it’s nearly impossible that a PENGU ETF will be approved before October, placing just an 8.4% chance on the outcome. This is significantly down from 44.7% in late July, when optimism of an ETF being approved peaked. The downturn comes despite expectations that Dogecoin and XRP ETFs will start trading this week.

That said, predictors think it’s fairly even—at a 46.7% chance—that any New York Stock Exchange (NYSE) traded company will add a Pudgy Penguins NFT to its treasury this year.

Meanwhile, per CoinGecko, the Pudgy Penguins Ethereum NFT floor price has remained fairly flat over the past week and is up just 5.1% over the past two weeks, now sitting at 10.49 ETH or $47,900. The collection’s sales and trading volume have increased over the past 24 hours by 145.5% and 152% respectively, however. It is now down 71.2% from its all-time high of 36.33 ETH set in December 2024.

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PENGU price eyes 20% rally as Pudgy Penguins gain Wall Street spotlight
NFT Gaming

PENGU price eyes 20% rally as Pudgy Penguins gain Wall Street spotlight

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PENGU price could potentially rally toward $0.045, on the back of a multi-year partnership with NYSE‑listed Bullish, and a surge in NFT sales.

Summary

  • PENGU price is up 11% in the past 24 hours.
  • The token has broken out of a falling edge that points to a potential rally to $0.045 in the short term.

According to data from crypto.news, Pudgy Penguins (PENGU) rose 11% over the past day to an intraday high of $0.037 while bringing its market cap to over $2.34 billion at press time. At this price, the token is up 37% from its monthly low and 870% above its lowest point this year.

Trading volume for PENGU stood 87% higher than the previous day. Additionally, open interest in PENGU futures rose by 21%, while the weighted funding rate has remained positive for the past 13 days, indicating that a growing number of traders are taking bullish positions on the token.

There are two main catalysts that have driven the PENGU price up today.

First, the Pudgy Penguins team revealed in a Sep. 18 X post that the project, along with its token, was featured in the Q2 earnings report and conference call of Bullish, a company that recently secured a U.S. stock exchange listing following a highly successful IPO that raised $1.1 billion and valued the firm at $5.4 billion.

One of the key highlights from the call was a 4‑year, multi‑product agreement with Igloo Inc., the parent company behind Pudgy Penguins.

PENGU likely benefited from the increased visibility and institutional credibility gained through this partnership with a publicly listed company, potentially attracting more investor interest and improving engagement across both its NFT and token ecosystems.

PENGU’s rally was also supported by a rebound in Pudgy Penguin NFT sales following a period of muted trading activity over the past week. In the past 24 hours, NFT sales surged by over 140%, while the number of buyers and sellers increased by 71% and 128%, respectively.

On the daily chart, PENGU has confirmed a breakout from a falling wedge in which it had been consolidating for multiple weeks. The bullish reversal pattern is formed when an asset’s price action creates converging downward slopes. A breakout from it typically leads to a sharp rally over the short term.

PNEGU price has confirmed a breakout from a falling wedge on the daily chart — Sep. 18 | Source: crypto.news

On a broader timeframe, the falling wedge acts as the handle of a larger cup-and-handle pattern that has been developing since the start of this year.

A cup-and-handle structure is typically characterized by a rounded bottom (the cup) followed by a short-term downward drift (the handle). A breakout from this pattern usually leads to much stronger gains over a longer period of time.

A look at momentum indicators such as the MACD shows a positive crossover, with growing green histograms, a sign of the bulls’ increasing dominance over bears. 

On top of that, the Relative Strength Index, which measures the speed and magnitude of recent price changes, has moved above 62. When this metric stands above 60, it indicates that buyers are exceeding sellers. Since it is still below the overbought level of 70, PENGU still has room to run before facing potential sell-side risk.

Based on this setup, PENGU is now eyeing a move toward $0.045, which marks both its July peak and the measured target from the falling wedge breakout. The target lies around 20% above the current price level.

A decisive break above the cup-and-handle neckline at $0.047 would confirm the broader bullish structure and pave the way for stronger upside momentum.

On the downside, a decline beneath the $0.027 support would invalidate this setup and signal weakness in the trend.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.



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NFT sales show modest recovery, Pudgy Penguins jump 110%
NFT Gaming

NFT sales show modest recovery, Pudgy Penguins jump 110%

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After weeks of steep declines in participation, the non-fungible token (NFT) market is showing early signs of stabilization, buoyed by a broader crypto rebound.

While overall buyer and seller activity has plunged nearly 70%, transaction volumes are creeping higher, and specific blockchains and collections are breaking out with double-digit growth.

At last check on Saturday, Bitcoin (BTC) topped $115,800 — up 5.2% over the past seven days — and Ethereum (ETH) hovered above $4,600, up 9.1% for the week.

Summary

  • NFT sales posted modest 4.7% recovery to $106.6 million
  • Market participation collapsed with buyer and seller counts dropping around 70%
  • Gaming collections dominated performance with Mythos Chain surging to second place

According to data from CryptoSlam, this marks the first positive growth in several weeks following a series of declines.

Market participation has contracted sharply, with NFT buyers falling by 69.84% to 180,693, and NFT sellers declining by 70.87% to 123,713. NFT transactions have increased by 2.60% to 1,754,295.

Ethereum has surged to the $4,700 level. The global crypto market cap is now $4.07 trillion, up from last week’s market cap of $3.81 trillion.

Mythos Chain sales jump over 40%

The buyer count declined across all blockchains, with BNB Chain leading at 84.35% growth as the only platform posting gains. At the same time, others saw drops ranging from 65% to 80%.

  • Ethereum maintains the lead with $34.1 million in sales and dropped 7.45% from the previous week. Ethereum’s wash trading has fallen by 52.47% to $3.1 million.
  • Mythos Chain advances to second place with $14.3 million, with 41.63%.
  • Polygon (POL) drops to third with $13.6 million, falling 13.82%.
  • BNB Chain (BNB) holds fourth with $10.3 million, up 7.96%.
  • Bitcoin sits in fifth with $9.4 million, rising 19.49%.
  • Immutable (IMX) climbs to sixth with $8.7 million, surging 69.41%.
  • Solana (SOL) rounds out the top seven with $5.5 million, up 12.06%.

Source: Blockchains by NFT Sales Volume (CryptoSlam)

Pudgy Penguins sales jump 110%

  • Courtyard on Polygon retains the top spot in collection rankings with $12.6 million in sales, declining 13.81%. The collection has experienced drops in both buyers (54.79%) and sellers (88.32%).
  • DMarket reaches second place with $8.9 million, jumping 83.55%. The gaming marketplace has benefited from Mythos Chain’s strong performance.
  • Guild of Guardians Heroes climbs to third position with $4.8 million, rising 67.68%. The gaming collection has seen growth across transactions (44.65%) and buyers (29.18%).
  • Panini America holds fourth place with $4.6 million, up 47.89%.
  • DKTNFT on BNB Chain sits in fifth with $4.3 million, rising 8.94%.
  • Pudgy Penguins enters the top six with $3.2 million, surging by 110.52%. The collection has more than doubled its transactions (111.43%) and seen substantial growth in both buyers (20%) and sellers (93.10%).
  • Sorare completes the top seven with $3 million, surging 64.07%. The fantasy sports platform has seen growth in buyers (25.52%) and sellers (5.24%).

Notable high-value sales from this week include:

  • CryptoPunks #2368 sold for 89 ETH ($408,599)
  • CryptoPunks #5702 sold for 57.95 ETH ($264,994)
  • CryptoPunks #8464 sold for 48.5 ETH ($225,753)
  • CryptoPunks #6557 sold for 50 ETH ($220,923)
  • CryptoPunks #5935 sold for 46.5 ETH ($216,444)



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NFT sales plunge to $129.6m, Pudgy Penguins jump 63%
Crypto Trends

NFT sales plunge to $129.6m, Pudgy Penguins jump 63%

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The non-fungible token (NFT) market has continued its downward trend, with sales volume falling 8.53% to $129.6 million.

Summary

  • NFT sales declined 8.5% to $129.6 million amid broader crypto market weakness
  • Pudgy Penguins stands out as the week’s top performer with 63% growth
  • CryptoPunks maintained its premium status with all top five individual sales

According to data from CryptoSlam, market participation has surged once again, with NFT buyers rising by 18.06% to 541,831, and NFT sellers increasing by 17.05% to 385,179. NFT transactions have grown by 11.96% to 1,814,788.

The slump is closely tied to the overall market situation. The Bitcoin (BTC) price has dropped to the $108,000 level.

At the same time, Ethereum (ETH) has dropped to $4,300. The global crypto market cap is now $3.75 trillion, down from last week’s market cap of $3.98 trillion.

Polygon sales jump 16%

Ethereum has maintained its leading position, with $54.5 million in sales, and has dropped 8.24% from the previous week. Ethereum’s wash trading has surged by 42.68% to $20.1 million.

Polygon (POL) has maintained second place with $18.9 million with a 16.12% surge. BNB (BNB) Chain holds third position with $13.4 million, falling 34.77%.

Source: Blockchains by NFT Sales Volume (CryptoSlam)

Mythos Chain sits in fourth with $10.2 million, up 4.71%. Bitcoin rounds out the top five with $7.7 million, declining 30.28%.

Immutable (IMX) holds sixth place with $6.8 million, a 4.95% decrease. Solana (SOL) occupies seventh with $5.7 million, falling 20.44%.

NFT buyer counts surge across blockchains

The buyer count has increased across most blockchains. As per the data, Solana leads at 39.47% growth, followed by Polygon at 42.66% and Bitcoin at 31.55%.

Courtyard on Polygon has retained the top spot in collection rankings with $17.6 million in sales, rising 19.44%. The collection has seen growth in transactions (8.58%) and sellers (14.67%) while buyers declined by 57.77%.

CryptoPunks has fallen to second place with $7.1 million and dropped 17.95%. The collection has seen decreases in transactions (18.92%) and sellers (25%) while buyer counts remained flat.

Pudgy Penguins has climbed to third position with $5.2 million with a 63.39% jump. The collection has seen growth across all metrics, including transactions (89.66%), buyers (60%), and sellers (46.81%).

DMarket holds fourth place with $5.1 million, representing a 10.01% increase. Moonbirds sits in fifth place with $4.4 million, a decline of 36.57%. SpinNFTBox on BNB Chain completes the top six with $4.2 million, falling 60.93%.

Notable high-value sales from this week include:

  • CryptoPunks #4619 sold for 96 ETH ($446,764)
  • CryptoPunks #2400 sold for 73.5 ETH ($324,076)
  • CryptoPunks #5273 sold for 65 ETH ($283,399)
  • CryptoPunks #1721 sold for 60 ETH ($274,171)
  • CryptoPunks #6373 sold for 55 ETH ($261,046)



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Pudgy Penguins Launches Pudgy Party Game On Mobile App
GameFi Guides

Pudgy Penguins Launches Pudgy Party Game on Mobile App

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Ethereum NFT brand Pudgy Penguins has teamed up with Mythical Games to launch Pudgy Party, a mobile party game which is now available on iOS and Android. 

The game looks and feels similar to games like Fall Guys and Stumble Guys, with colorful party battles where players race through and try to survive unique mini-games. 

Each round is designed to feel different with multiple challenges players can expect new twists every time they join a match.

A Game Full of Fun Built on Blockchain

The Pudgy Party game is built on the Mythical Platform and integrates blockchain quietly in the background. When a player joins the game, a wallet is automatically created for them with them even knowing.

“The Web3 stuff is kind of just seamlessly behind it. You’re suddenly getting assets and you’re leveling them up, and you can change them and you can burn them for other things. All that’s fairly hidden from the user initially.” Mythical Games CEO John Linden explained in a press release.

Memes, Costumes, and Endless Play

The game’s stars are the Pudgy Penguins characters, which are already well known on social media and in toy stores. Each penguin has a fun personality and can be dressed in costumes or upgraded with emotes and other items. Some costumes can also be minted as NFTs, which means they can be traded on Mythical’s marketplace.

At launch, the game started with a seasonal event called Dopameme Rush. This event is based on internet memes and includes funny costumes like John Pork and Tung Tung Sahur. The game will have new seasons every month, with both free and premium passes. Players can also take part in tournaments and leaderboard competitions.

“The heart of Pudgy Penguins has always been about connection and spreading good vibes. Bringing our beloved, viral characters to life in a mobile multiplayer game is an exciting step forward in our mission to create joyful, meaningful experiences for our growing global community.” Luca Netz, CEO of Pudgy Penguins, said in the press release.

Pudgy Penguins has grown far beyond NFTs since its 2021 debut, and expanded into plush toys sold at Walmart and Target, with launching earlier games like Pudgy Worlds. It also rolled out its Solana-based PENGU token. Today, the collection is the second most expensive NFT series by floor price and is valued at $417 million, according to on-chain data.

Also Read: Amdax Initiative AMBTS Plans To Acquire 1% of Total Bitcoin Supply



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Pudgy Penguins Token Declines Sharply in August Amid NFT Market Downturn
Crypto Trends

Pudgy Penguins Token Declines Sharply in August Amid NFT Market Downturn

by admin



Pudgy Penguins’ native token slipped on Friday despite the project’s new title ranking among Apple’s top downloads.

The PENGU (PENGU) token fell by nearly 4% on Friday, following the launch of Pudgy Party, a battle royale game released on Android and iOS, regardless the game recording over 50,000 downloads on the Google Play store and landing in the top 10 most downloaded games on Apple’s App Store.

Pudgy Penguins is a popular non-fungible token (NFT) project in the crypto space. The project supplements its onchain digital presence with trading cards, plushy penguin-themed toys, video games and other physical merchandise.

According to CoinMarketCap, the token declined by over 20% over the past 30 days.

The price retrace comes amid a broader downturn in the NFT market, which saw other blue-chip NFT projects such as Bored Ape Yacht Club (BAYC) and Doodles post double-digit losses in August.

PENGU token declines by over 20% in August. Source: CoinMarketCap

Despite price fluctuations, Pudgy Penguins continues to be a cultural phenomenon within the crypto community and showcases mass appeal to non-crypto users through the project’s focus on physical merchandise, drawing both adults and children to the franchise.

Related: NFT market cap drops by $1.2B as Ether rally loses steam

NFT markets suffer as Ethereum retraces recent gains

The Ethereum network hosts the most NFT trading activity of any blockchain ecosystem, and, following Ether’s (ETH) recent decline from an all-time high of about $4,957, the NFT market took a hit.

CryptoPunks, a blue-chip NFT collection of pixelated characters often used as profile pictures (PFPs) by crypto industry executives and investors, demonstrated more resilience, rising by nearly 3% during August, according to NFTPriceFloor.

NFT projects take a hit during August. Source: NFTPriceFloor

Meanwhile, BAYC recorded losses of over 11% in August, and Pudgy Penguins recorded declined by over 20% in US dollar terms.

The NFT market cap hit $9.3 billion at the beginning of August during Ethereum’s historic bull rally to new all-time highs. However, the NFT market cap has since dropped to just $7.4 billion at the time of this writing and continues to correlate with ETH prices.

Magazine: GUN token’s $69M milestone, Pudgy Penguins go to LOL Land: Web3 Gamer



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NFT Gaming

Pudgy Penguins Game ‘Pudgy Party’ Launches on iOS and Android

by admin



In brief

  • Pudgy Penguins and Mythical Games collaborated to develop Pudgy Party, a new Web3 mobile game.
  • The game falls in the party genre, offering fast-paced mini-games for players similar to Fall Guys or Stumble Guys.
  • Pudgy Penguins CEO Luca Netz has high expectations, aiming for tens of millions of downloads.

Ethereum NFT brand Pudgy Penguins and game developer Mythical Games announced the global launch of Pudgy Party, a mobile party game that’s now available on Android and iOS. 

Pudgy Party draws comparisons to popular games like Fall Guys and Stumble Guys—colorful riffs on the battle royale genre in which players race through wild obstacle courses and persist through survival challenges.

And this time around, it has a Web3 twist.

“We took our own interpretation of that genre,” Mythical Games CEO John Linden told Decrypt. “We thought it was the right focus for not only the brand, but the gameplay—something the community can really get behind.” 

It’s almost time to crash the Pudgy Party 🐧

Pick your favourite costume 🐲
Survive the fireballs, kicks and chaos 🔥
Outlast the madness and waddle out a champion 🏆

Pre-register for Pudgy Party below ↓ pic.twitter.com/8NRYgTmUiB

— Pudgy Party (@PlayPudgyParty) August 11, 2025

In Pudgy Party, users will step into a game filled with Pudgy Penguins characters, which have made an impact across social media and via retail products like plush toys. And players will automatically enroll in Web3 gaming in the process, even if they don’t realize it.

“Every player that comes in, they’re automatically onboarded into a wallet,” Linden said.

“They have a wallet, but most of them won’t even know about it,” he said of the onboarding experience, which is designed to encourage “getting in and playing.” The game integrates blockchain via the Mythos Chain, a network built on the Polkadot blockchain, in the background. 

“The Web3 stuff is kind of just seamlessly behind it,” he added, “You’re suddenly getting assets and you’re leveling them up, and you can change them and you can burn them for other things. All that’s fairly hidden from the user initially.”

Users will be able to collect outfits, emotes, and other in-game assets, as well as costumes that can be minted as NFTs and later traded via the marketplace.

The game will launch with its first seasonal event, “Dopameme Rush,” a brainrot-themed event featuring popular internet memes. Seasons will run monthly and come with free and premium passes, as well as special events and leaderboard competitions. 

After taking a once-declining brand to the shelves of Walmart and Target, Pudgy Penguins CEO Luca Netz has set the bar high for the upcoming game launch. 

“It has to have, at a minimum, tens of millions of players and downloads,” he told Decrypt. “My hope is we can actually push and make this a top app on the App Store, period.”

Netz expects that Pudgy Party will make a massive push beyond the crypto bubble, and become the first Pudgy franchise product.

“I think you’re going to see some of the world’s biggest streamers streaming Pudgy Party. I think you’re going to see epic IRL events, huge campaigns, and tournaments and prize pools to bring people in,” he said, adding that thinks it will be the “biggest Web3 game that we’ve ever had.” 

Mythical Games has already built some of Web3’s most prominent games with its FIFA Rivals and NFL Rivals, which have collectively amassed millions of mobile downloads. It hopes to build something similar with the Pudgy Penguins. 

“We’re after building a forever franchise with Luca,” Linden said. “We want to help them take this into the gaming world and have something that can be around and played by literally hundreds of millions of people over a period of time.” 

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NFT Gaming

Why Luca Netz Will Be ‘Disappointed’ If Pudgy Penguins Doesn’t IPO Within 2 Years

by admin



In brief

  • Pudgy Penguins is a popular crypto-native IP that started from NFTs and has expanded into toys, games, and more.
  • CEO Luca Netz told Decrypt that he hopes to take the company public within two years.
  • In addition to NFTs on Ethereum, the brand has launched a meme coin, PENGU, on Solana.

Pudgy Penguins is on track to clock a record $50 million in revenue this year, according to its CEO Luca Netz—the culmination of a years-long play to plaster the popular IP across corners of the world typically unchartered by Web3 projects, including arcades, storybooks, and even major retailers like Walmart. 

But Netz is already looking ahead to Pudgies’ march to an even larger and far more lucrative arena over the next two years: Wall Street.  

In an interview with Decrypt, Netz said he would like to see shares of Pudgy Penguins trade on a public exchange by 2027. 

“I would love to [go public] in the next two years,” he said, adding that a timeline for the would-be public listing is contingent upon Pudgy’s revenue growth. “I think if we don’t IPO in the next two years, I’d be disappointed in myself.”

And if it doesn’t pan out by that deadline, “hold me accountable,” Netz said.

Pudgy’s aim to go public comes as the firm experiments with various business verticals amid an IPO revival in the U.S. that has pumped massive amounts of capital into tech companies, in particular. 

More than 220 firms have listed their shares on public exchanges year-to-date, up nearly 90% from the 117 companies that debuted on the U.S. stock market in the first eight months of 2024, according to markets research website StockAnalysis.com.

Amid that IPO resurgence, several digital assets firms have jumped into the fray, filing to go public as U.S. President Donald Trump ratchets back federal regulations for the industry. 



Stablecoin issuer Circle unveiled its blockbuster IPO in early June, notching more than $1 billion in profits. Just two months later, crypto exchange Bullish debuted on the New York Stock Exchange, while competitors Gemini and Kraken are gearing up to follow suit.  

Pudgy is attempting to capitalize on growing public interest in digital assets-linked firms by working with finance experts to make Pudgy Penguins and its associated decentralized-finance token PENGU more accessible to retail and institutional investors.

Earlier this year, the company shepherded asset manager Canary Capital’s proposal to debut an exchange-traded fund tracking the prices of the PENGU meme coin and Pudgy Penguins NFTs. More recently, the Pudgy team was in talks with public companies to hold PENGU on their balance sheets—the results of which could play out over the next three months.

“The understanding of traditional finance just gets me super excited,” Netz said.  “There’s so much more capital inflows and accessibility.”  

To that end, the Pudgy team, which maintains its headquarters in Miami, is considering spending more time in New York, the heart of the public markets. 

“Every time me and a couple other guys from the company go there, we just get done in two days what would take us five days here,” Netz said. “Every day, every hour, every minute counts, and New York just moves at an incredible pace that I think is super necessary if you want to win.”

No public listing? No problem 

Although it’s unclear whether Pudgy will be able to court investors for an IPO by the end of 2027, there already exists a lower-fuss—albeit riskier—alternative that could enable traders to invest in Pudgy Penguins without all the regulatory requirements: tokenizing the stock. 

Asked if Pudgy Penguins might soon tokenize shares of its stock to trade on an on-chain equities platform such as xStocks, Netz said: “I can’t speak on this, but you’re going down a very smart rabbit hole. 

One thing he can share, however, is that the NFT project will continue to be selective about who it works with as it looks for ways to fuel its growth. 

“There’s a lot of cheap, grimy, dirty capital out there,” Netz said. But, he added: “I have every interest in doing this stuff with the biggest and the best… with the guys [for whom] if it’s not a billion dollars, it doesn’t move the needle for them.”

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NFT Market Cap Drops $1.2B as Ether Declines; Penguins Overtake Apes
NFT Gaming

NFT Market Cap Drops $1.2B as Ether Declines; Penguins Overtake Apes

by admin



The non-fungible token (NFT) market lost more than $1.2 billion in value in less than a week as Ether’s rally slowed, according to sector data.

On Monday, NFT Price Floor data showed that the total valuation of NFT collections had dropped to $8.1 billion, a 12% decline from Wednesday’s NFT market cap of $9.3 billion, which had surged 40% since July. 

NFTs losing $1.2 billion in valuation in less than a week coincided with a 9% drop in Ether (ETH) prices. At the time of writing, Cointelegraph data showed ETH traded at $4,260, down from a high of about $4,700 on Wednesday. 

Many NFTs are minted on the Ethereum network. With valuations and sales denominated in ETH, bullish or bearish momentum in the crypto asset often translates into increased or decreased value in the NFT sector. As ETH went down 4% in the last 24 hours, a majority of the top 10 collections also showed declines in value. 

Top 10 NFTs by market capitalization. Source: NFT Price Floor

NFT market cap drops by over 12% as ETH declines

While it continued to be the top collection by market capitalization, CryptoPunks saw about $300 million wiped from the collection’s value.

At the time of writing, data showed it was worth $2.1 billion, down 12% from its 2.4 billion market cap on Wednesday. 

CryptoSlam data showed that the collection’s sales volume reached $12.7 million, a 34% drop in the last seven days. Total sales only reached 51, down 28% in the last week. 

The Bored Ape Yacht Club (BAYC), which was ranked second in overall NFT market capitalization on Wednesday, dropped to third place on Monday, as the collection declined to $482.3 million.

This represented an almost 20% drop from Wednesday’s $602 million. 

Related: NFT sales surge to $574 million in July, second-highest in 2025

Penguins overtake Apes in market capitalization

Meanwhile, Pudgy Penguins climbed to the second-highest valuation despite erasing about $100 million in overall value.

On Monday, the collection’s market cap was $491 million, down 17% from Wednesday’s $591 million. 

Last week, publicly traded blockchain company BTCS Inc. announced that it added three Pudgy Penguins NFTs to its corporate digital asset treasury.

This showed that companies are beginning to recognize blue-chip NFT collections as legitimate assets for treasury diversification. 

Magazine: Jack Butcher’s no fan of NFT royalties: ‘You’re getting paid on churn’



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