PudgyPenguins is steadily growing its presence

February 22, 2024

I. Mainstream exchange news

• Coinbase will list Helium Mobile (MOBILE).
• Coinbase will list Starknet (STRK).
• Binance Launchpool announced its 47th project Portal (PORTAL). Users can mine PORTAL tokens by staking BNB and FDUSD over seven days.
• Binance Futures will launch the MAVIAUSDT perpetual contract.
• OKX's web3 wallet now fully supports the Starknet ecosystem.
• OKX will list Smart Layer Network (SLN) on February 23rd.

II. Mainstream projects and trending events

• NVIDIA's Q4 revenue for 2023 reached $22.1 billion, far exceeding market expectations.
• Layer 1 blockchain project Nibiru Chain plans to launch its mainnet in March.
• Walmart has increased the supply coverage of Pudgy Toys to an additional 1100 stores.
• Ronin announced the launch of the RON token restaking.
• Kelp DAO launched KEP, a token designed to bring liquidity to EigenLayer Points.
• Metis has planned to introduce an Ethereum L2 revenue-sharing model.

III. Funding news

• Citadel, a Bitcoin ZK Rollup protocol, completed a seed round of $2.7 million funding led by Galaxy Ventures.
• Matr1x FIRE, a Metaversial shooter game, has received strategic investment from Animoca Brands.
• Inco, a modular blockchain developer, completed a seed round of $4.5 million funding led by 1kx.
• Ethena Labs, the developer of USDe, will access Cobo's off-site custody and the SuperLoop settlement network to enhance asset security.
• DeFi project INIT Capital completed a seed round of $3.1 million funding led by Electric Capital.
• ZeroLend, a lending protocol, completed a seed round of $3 million funding at a valuation of $25 million.

IV. Regulatory news

• Turkish officials said that the upcoming crypto industry regulations aim to promote innovation while protecting users.
• The US Department of Justice seeks a protective order in case against ex-Binance CEO CZ, aiming to seal related sensitive information.

IV. Popular projects  

AI Sector

Apple unveiled its Q1 2024 financial results (ending December 30, 2023) on February 1st. The tech giant reported earnings per share (EPS) of $2.18, surpassing $2.1 per share that analysts expected. The company recorded a revenue of $118.06 billion, exceeding $119.58 billion projections. Looking ahead, Apple confirmed plans to roll out new artificial intelligence (AI) features in 2024. Reports suggest that these updates will be built into iOS 18 integrating generative AI technologies, possibly featuring improved RCS messaging support and Siri enhancements. 

Meanwhile, Nvidia announced its Q4 2023 financial report on Wednesday. The company reported an EPS of $5.16 and total revenues of $22.1 billion, both of which beat analysts' forecast of $4.61 EPS and $20.55 billion in revenue.

Following the announcements, AI segment tokens continued their ascent. Over the past week, the sector saw an accumulated surge of 32%. Notably, AGIX stock rose by 120% within a week. Other stocks related to AI concepts such as GLM (Computing Power Rental), rising by 71%, RNDR (GPU Rendering) increased by 37%, and FET, backed by Demis Hassabis, co-founder of DeepMind, climbed by 56%.

Forgotten Playland token rises over 20-fold at opening

Forgotten Playland, a unique social gaming platform backed by investors such as C2 Ventures, Merit Circle, and Spartan Group, recently secured $7 million in funding. The platform, which lets users customize plush toy avatars and compete in mini-games, is set to launch two new games in Q1. 

The platform's token, FP, carried out its Initial DEX Offering (IDO) on Ape Terminal at 0.004 USDT. To prevent bot attacks, the project imposed a 30% buy-sell tax on block 0 trades and a 5% tax for the first four hours after listing on Uniswap. The liquidity was also migrated from Uniswap V2 to V3. Following its debut, the token price surged over 20 times. Early participants in the IDO yielded returns of $4750 per account (with an initial investment of $250), signifying considerable market attention. 

AI Arena, an AI+NFT concept project, continues to garner attention 

AI Arena is an AI-driven Web3 competitive game that allows players to train their AI characters for battle. Each battle's outcome is determined by the player's skills in training, aiming to help users understand the operation and learning process of artificial intelligence. In October 2021, it completed a $5 million seed round financing led by Paradigm and participated by Framework Ventures. In January 2024, it completed another round of $6 million in financing, led by Framework Ventures and participated by SevenX Ventures.  

The game has launched a testnet, offering 40 million NRN tokens (4%) for user airdrops and another 40 million for prizes. This project represents a unique fusion of AI and NFT technology, promising for AI's growing trend.

The project's main highlight is the integration of AI and NFT, where users can continuously train their battling sprites (NFTs) using the LLM model and send the trained sprites to PvP/PvE battlefields. As the momentum of AI continues to rise, the development of AI Arena might be noteworthy.

PudgyPenguins ecosystem is expanding its standing 

Walmart has increased the distribution of Pudgy Toys, a PudgyPenguin NFT IP Merchandise, to an additional 1,100 stores, reaching a total of 3,100 unique locations. Since Pudgy Toys' initial launch in Walmart in September 2023, the brand, which includes a diverse range of 30 Pudgy-themed items, has been warmly received by consumers. The products are currently priced between $2.99 and $11.97. Notably, the floor price of PudgyPenguins NFTs formerly surpassed that of Bored Ape Yacht Club (BAYC) and currently maintains a steady rate near 20ETH.

Furthermore, Pudgy World, part of the Pudgy Penguins ecosystem's metaverse, has recently made its debut on the zkSync network, with expectations of its forthcoming token release.

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