The NFT market is heating up again, possibly driven by greater ambitions.

Recently, the NFT market has once again become the focus of attention. The floor price of Pudgy Penguins NFT has risen by nearly 35% in a week, reaching 12.75 ETH, approximately $38,000. Meanwhile, the price of the $PENGU token has rebounded nearly 10 times from its low, with a market capitalization exceeding $1.8 billion. This level of enthusiasm has not been seen in the NFT space for a long time.

Surprisingly, the recent price rebound did not stem from a popular narrative or the influence of an opinion leader, but rather began with a tacit "avatar change movement."

Crypto Giants Change to Penguin Avatars

On July 12, several well-known crypto projects successively changed their social media avatars to a Pudgy Penguins theme, as if it had been carefully rehearsed. This move immediately triggered a market reaction, with the floor price of NFTs and the trading volume of $PENGU soaring, and market expectations for potential collaborations quickly heating up.

In fact, this is not the first time Pudgy Penguins has received widespread support from the industry. On April 26th, World Penguin Day this year, many Web3 organizations jointly released a commemorative poster, demonstrating their unanimous recognition of Pudgy Penguins.

This collective behavior seems to have transcended simple online cultural festivities and is more like a stance expression: Pudgy Penguins has become part of the industry's consensus. Behind this is the resource network that Pudgy Penguins has cultivated over the years in the industry.

From the Crypto World to Traditional Finance

The influence of Pudgy Penguins is gradually penetrating the traditional financial sector. VanEck, an investment management company founded in 1955, not only changed its social media avatar to Pudgy Penguins as early as 2024 but also invited the chubby penguins to ring the NASDAQ opening bell on June 23 this year.

Luca, the CEO of Pudgy Penguins, once claimed on social media: "Pudgy Penguins is the face of the crypto world." This statement may reveal their grander vision.

Competing for the Visual Representation of the New Generation of Financial Narrative

As the cryptocurrency industry gradually moves towards compliance and mainstream adoption, Web3 needs an image that is easy to understand and appealing to explain itself to a broader audience. An image that is memorable, encourages the purchase of merchandise, and can be integrated into product interfaces may have a greater impact on the future development of the industry than a new protocol.

The goal of Pudgy Penguins seems to extend beyond the NFT or token market. They may be vying for a higher positioning - to become the visual spokesperson of a new generation of financial narratives.

In the future, Pudgy Penguins may not only represent cryptocurrency but could also become a symbol of the entire financial industry. Behind this "avatar change movement" lies an ambition to potentially reshape the visual image of the financial sector.