Pudgy Penguins have surpassed the Bored Ape Yacht Club to become the second-largest NFT collection by market cap.
Pudgy Penguins' floor price has seen significant increases, while Bored Ape Yacht Club has experienced a decline.
Pudgy Penguins' success is attributed to strong community engagement and strategic initiatives, including merchandise and plans for a game.
This shift signifies the growing importance of community engagement and diversified use cases in the NFT market, suggesting a maturing industry focused on utility and emotional appeal.