The Fat Penguin Craze Sweeps the Encryption Circle: From NFT to a Diverse Web3 Ecosystem

Recently, a trend of profile pictures themed around chubby penguins has swept through the encryption circle. Many well-known trading platforms and industry organizations have replaced their social media avatars with chubby penguin derivative images. Notably, a traditional financial giant with a 70-year history also made its appearance at NASDAQ in June this year with a chubby penguin physical doll, bringing this Web3 IP into the mainstream financial sector.

This wave of enthusiasm has significantly boosted the market performance of assets related to the Fat Penguin. As of July 17, its ecological token has risen over 216% in the past month, with a market capitalization that once surpassed $2.8 billion. At the same time, the trading volume of related NFTs also grew by 111% compared to last month, reaching $13.726 million.

Fat Penguin Ecosystem Panorama

Since the downturn of the NFT market in 2022, Fat Penguin has not followed the trend but has actively expanded IP licensing and commercial implementation, gradually building a diversified ecosystem. Currently, this ecosystem not only includes an Ethereum Layer 2 network based on ZK technology but also integrates various fields such as gaming applications, social media, NFT interactive platforms, as well as offline toys and consumer products.

Official data shows that as of July, sales of the Fat Penguin toy have exceeded 10 million USD, the number of game users has reached 60,000, and the cumulative active users of its Layer2 network are about 2.5 million. These data indicate that Fat Penguin is transforming into a Web3 super IP with scale effects, commercialization capabilities, and infrastructure capabilities.

physical ecology

In terms of physical products, the Fat Penguin toy series has achieved significant success. Since its initial release in May 2023, the series quickly climbed to the top of the best-selling list on a certain e-commerce platform, with sales exceeding $10 million, and subsequently entered over 10,000 large chain supermarkets across the United States. The rich product line and innovative NFT licensing revenue model not only create passive income for holders but also provide a reference for commercialization pathways for the entire NFT industry.

game section

The gaming sector is also a key focus for Fat Penguin. In May of this year, a 1V1 turn-based battle game launched in a certain public chain ecosystem, attracting over 60,000 players in its first week. Additionally, a multiplayer survival mini-game planned for release in the summer of 2025 has also garnered significant attention, with its official social media following nearing 100,000. By continuously introducing lightweight game content that meets user needs, Fat Penguin is steadily expanding its IP influence and effectively attracting more users into its ecosystem.

Layer2 network ecosystem

The company behind the Fat Penguin has launched an Ethereum Layer 2 network based on ZK-rollup technology in collaboration with other teams. This network adopts a wallet solution that does not require mnemonic phrases and features a user-centric design philosophy, aiming to lower the user threshold and expand the popularity of consumer-grade application scenarios. As of July 18, the network has locked assets worth 42.6M (an increase of 533% compared to the beginning of the year), and the number of active users remains between 50K and 200K.

This network supports a diverse ecosystem including games related to Fat Penguin, NFT applications, among others. Some of the more popular projects include:

1. Official network mascot token: As of July 17, its market value has risen to 37.6M, making it the highest market value social token in the Fat Penguin ecosystem.

2. Lottery platform token: Users can participate in the platform's lottery activities by purchasing this token, with prizes including currently popular NFT projects.

Future Development Potential

In the short term, the Fat Penguin ecosystem has three noteworthy trends:

1. In March this year, a cryptocurrency asset management institution officially submitted an application to the SEC to launch a spot ETF product based on the Fat Penguin ecosystem token. If approved, it will become the world's first ETF product with NFT project native assets as the underlying asset, marking a milestone.

2. Its Layer2 network is also accelerating its improvement. The CEO of Fat Penguin has publicly stated that the network is expected to launch token issuance by the end of this year. As the core infrastructure supporting Fat Penguin's diverse business, once its token mechanism is implemented, it will provide stronger incentives and collaborative expectations for ecosystem participants.

3. Multiplayer survival adventure mini-games are expected to launch this summer, and have already garnered significant attention within the community. As the official launch of the game approaches, social tokens within the ecosystem are expected to achieve content integration and gameplay fusion within the game, further strengthening brand loyalty and increasing ecosystem engagement.

The current Fat Penguin has far surpassed the traditional NFT project scope, developing into a composite Web3 brand that encompasses IP, physical goods, gaming, and infrastructure. Starting from the initial avatar IP, it has expanded to offline consumer products, light social games, Layer2 infrastructure, and then to social tokens and lottery platforms, gradually building a complex ecological closed loop that spans virtual and real worlds, multiple chains, and various scenarios. This is also the main reason why Fat Penguin continues to maintain market activity amidst the ongoing slump in the NFT market.

Risk Warning:

The information provided in this article is for reference only and should not be considered as investment advice. All cryptocurrency investments are inherently highly speculative and involve significant risk of loss. Past performance does not guarantee future results. The value of digital currencies can fluctuate significantly, and investors should make decisions cautiously based on their individual circumstances.