DWF Ventures has shared its analysis of current trends in the NFT market and key players’ strategies. Experts note that user activity in the NFT space has significantly declined since the 2021–2022 peak; however, interest in the sector is gradually reviving.
New Approaches from Established Players
Despite the market’s downturn over the past two years, the pioneering projects of the NFT ecosystem continue to evolve. A major trend is the creation of proprietary infrastructure solutions. Pudgy Penguins, Azuki, Bored Ape Yacht Club (BAYC), and Memeland are launching their own blockchains — from L2 to L3 — strengthening their ecosystems and offering new opportunities for participants.
Pudgy Penguins: Two Tokens and a zk-Rollup
In December 2024, Pudgy Penguins introduced the PENGU token on Solana. Over half its supply was distributed via airdrop, which at one point drove the NFT collection’s floor price to 35 ETH.
Simultaneously, Pudgy Penguins is developing AbstractChain, a consumer-oriented blockchain that uses a zk-rollup. The mainnet launch is expected in Q1 2025.
Azuki: Anime Focus and an L3 Blockchain
In January 2025, Azuki announced the ANIME token, tied to AnimeChain, an L3 network built on Arbitrum Orbit. Azuki’s NFT collection floor price rose by 2 ETH following the news. As with PENGU, a substantial portion of tokens (50,5%) will be allocated to the community.
Memeland: Memes and a New Network
Memeland, a Web3-focused gaming studio, launched the MEME token in 2023. After its success, the project introduced Memenet — an L2 blockchain on Ethereum — further expanding its ecosystem.
BAYC: The Flagship NFT Project and ApeChain
Yuga Labs, creator of Bored Ape Yacht Club (BAYC) and MAYC, rolled out the APE token in 2022, becoming the first to offer a blue-chip NFT token. In 2024, they unveiled ApeChain, an L3 network on Arbitrum Orbit, bolstering their position in the NFT sector.
Projects like Pudgy Penguins, Azuki, and BAYC thus demonstrate a shift toward more advanced infrastructure solutions. Experts believe that this trend — creating new-generation tokens and blockchains — could drive further sector growth, rekindling investor and participant interest.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.