Is this the End of Pudgy Penguins?

This is a spicy one, and I really want us to talk about it.

Because having been in Singapore, I can confidently tell you that Pudgy was one of the projects with the biggest presence at the event. Every single day that week, there was a community event. On some days, even two.

It was the only NFT-native project that truly played an important role during the event, just like it has over the past few years. But looking at what’s happening behind the scenes, and where the floor price stands now after the end of Abstract, perhaps this is just an attempt to polish a turd.

Because Abstract was supposed to become one of the biggest long-term catalysts for Pudgy Penguins. And now, all of that has collapsed.

At this point, $PENGU has already been distributed, the floor price has seen better days, and yes, the toys and physical products are still there.

But let’s be real, they’re not exactly a massive revenue machine.

What’s the actual reason to own a Pudgy Penguin in 2026?

That’s a difficult question to answer without letting emotions or nostalgia get in the way. Personally, right now, I don’t see any reason beyond desperately hoping for a bounce and trying to make a trade out of it.

But what could possibly push a floor price higher when you’ve just lost the last remaining incentive for your loyal holders? Luca Netz and his team now have the biggest challenge of their entire journey on their hands.

Keeping alive the giant that Pudgy Penguins once was in the NFT space, without fading into irrelevance like Azuki and so many others have over the years.

Time will tell.