The NFT market is undergoing a restructuring, and a small number of projects such as Pudgy Penguins and Doodles are shifting from speculation to sustainable brand operations, demonstrating their ability to convert to real businesses. The industry is clearly diverging; NFT projects that rely on scarcity are losing their appeal, and a complete business model needs to be built. Game mechanics are also shifting from “Play-to-Earn” to “Play-to-Own,” emphasizing asset ownership. The trend of tokenizing NFT IP is gaining traction, but there are risks of fragmented governance and declining loyalty. Going forward, projects that can establish genuine demand and form a closed-loop business cycle are more likely to survive.

Gate News reports that on March 20th, March 19th, Pudgy Penguins (PENGU) price dropped 6.63%. This decline occurred following the Federal Reserve's announcement to maintain interest rates unchanged.

Cybersecurity firm Malwarebytes Labs has warned that a fraudulent website pudgypengu-gamegifts[.]live is impersonating the Pudgy Penguins game in an attempt to steal users' cryptocurrency wallet passwords. The phishing site mimics the interface of legitimate wallets to deceive visitors. Users are advised to access official websites through trusted bookmarks, and to remain vigilant against social media links and wallet password prompts.

Pudgy Penguins has launched its flagship browser game Pudgy World, which is designed more as a casual mainstream game. The game is set in the virtual world "The Berg," where players complete quests and explore. Adopting a "game first" philosophy, it differs from traditional NFT game models. The market response has been positive, and it is expected to attract more regular players.

On March 10th, the overall crypto market rose, with DeFi performing particularly well, up by 4.55%. Bitcoin approached $70,000, and Ethereum broke through $2,000. Multiple sectors saw gains, notably Hyperliquid and Pudgy Penguins with significant increases. The overall crypto index also performed well.

Gate News Announcement, March 10, - Pudgy Penguins announced on the X platform that the browser-based free game Pudgy World is now live. Players can access the game without downloading, explore 12 unique towns in The Berg, help Pengu find Polly, and participate in mini-games. The official statement says this is an important step in expanding the Pudgy Penguins audience and universe.

PEI Licensing officially files a lawsuit against Pudgy Penguins, accusing it of trademark infringement and dilution of the Original Penguin brand value. PEI states that Pudgy's use of related names and logos has caused consumer confusion, and despite a cease and desist letter, the other party continues to sell. PEI seeks compensation, and Pudgy has not responded yet.

Pudgy Penguins is facing a trademark infringement lawsuit filed by the parent company of Original Penguin, accusing it of using a similar penguin logo that could lead to brand confusion. PEI is requesting the court to dismiss Pudgy's trademark application and prohibit its use of the related logo. Pudgy has stated that it is surprised by the lawsuit and emphasized the obvious design differences and different market positioning. This case could become a key example of trademark protection for Web3 brands versus traditional brands.

Foresight News reports that the NFT series Pudgy Penguins is launching a mystery box redemption event. Users can choose to exchange the mystery box for a physical box or destroy it to receive a soul-bound token. The choice will be irreversible once made. The option to redeem the soul-bound token will be available until March 4th, and the physical box option will be available until September 1st.

Pudgy Penguins partners with Visa and KAST to launch Pengu Card, entering the consumer finance sector. This globally accepted card can be used directly with stablecoins or cryptocurrencies for purchases, offering rewards of up to 12%. The card is available in standard, black, and gold versions, and users can earn referral rewards by inviting friends to participate.