The NFT sector, which experienced a significant boom during the NFT Summer of 2021 and peaked in early 2022, witnessed a notable decline in activity over the past two years. However, recent developments, particularly the token launches by Pudgy Penguins and Azuki, have returned interest in NFTs. In this article, DWF Ventures explores top crypto projects setting up the next stage for the NFT sector.
Recent NFT Trends
The NFT Revival of 2025 is characterised by several distinctive features, namely:
- Continued innovation despite the NFT market slowdown. Although NFT trading volumes and enthusiasm waned post-2022, builders within the ecosystem have remained active, introducing new tokens and blockchain networks to enhance their ecosystems. These initiatives aim to add long-term value and utility to their respective communities.
- “Infra Play” is an emerging trend. A growing number of legacy NFT projects are expanding beyond digital collectibles into blockchain infrastructure. Leading projects such as Pudgy Penguins (L2), Azuki (L3), BAYC (L3), and Memeland (L2) have invested into their own blockchain networks. Notably, BAYC and Memeland pursued blockchain development after issuing their tokens, reflecting a strategic move for ecosystem consolidation.
- New token launches. The successful launches of $PENGU (Pudgy Penguins) and $ANIME (Azuki) are likely to encourage other NFT projects to introduce their own native tokens. This trend suggests that 2025 onwards, we could see a wave of NFT projects incorporating native assets as part of their ecosystem growth strategies.
Now, let’s break down some of the most prominent NFT projects and their contributions to these key trends:
- Pudgy Penguins.
- Azuki.
- BAYC.
- Memeland.
Pudgy Penguins
The popular NFT collection, Pudgy Penguins, has embraced a dual-token strategy with PENGU, a community-driven memecoin, and the upcoming ABS, which will serve as the native token of the Abstract blockchain, an Ethereum Layer 2 ZK-rollup focused on consumer dapps, which is about to be launched by the collection’s developers, a company called Igloo.
Launched in December 2024 on Solana, PENGU has gained significant traction, with over 50% of tokens airdropped to community members, pushing the Pudgy Penguins NFT floor price to an all-time high of 35 ETH.
According to Dune Analytics, the token now boasts over 615,000 on-chain holders. The Abstract blockchain, previously known as Frame before its acquisition by Igloo (Pudgy Penguins' parent company), is anticipated to launch its mainnet in Q1 2025, further enhancing the utility and interoperability of the Pudgy ecosystem.
Azuki
Azuki has recently unveiled ANIME, a token tied to the newly developed AnimeChain, an anime-focused Layer 3 blockchain built in collaboration with Arbitrum through its Orbit framework. Following the token’s announcement, the Azuki NFT floor price experienced an increase of 2 ETH, demonstrating strong market interest.
Like Pudgy Penguins, Azuki has committed to distributing over 50% of ANIME tokens to its community, ensuring fair participation and decentralisation. In a strategic move to enhance liquidity and market confidence, all tokens, except those allocated to the company and advisors, will be fully unlocked at launch, allowing for immediate trading and engagement within the ecosystem.
Memeland
As a Web3-focused gaming studio, Memeland has expanded its ecosystem through NFT collections and tokenised economies. In April 2023, the project launched MEME, with an airdrop that covered all Memeland NFT collections, including MVP, Captainz, and Potatoz, fostering a stronger connection between token holders and the broader Memeland community.
A year later, in April 2024, Memeland introduced Memenet, an Ethereum Layer 2 network aimed at enhancing scalability for its gaming ecosystem while offering new opportunities for developers to build Web3-native experiences.
Bored Ape Yacht Club (BAYC)
BAYC, one of the most influential NFT collections in the space, continues to expand its ecosystem with the introduction of ApeCoin (APE) and ApeChain. Launched in May 2022, ApeCoin serves as both a governance and utility token within the BAYC ecosystem, enabling holders to participate in governance proposals and access exclusive features.
In September 2024, Yuga Labs took a significant step forward by launching ApeChain, an Arbitrum Orbit Layer 3 network. This strategic expansion into blockchain infrastructure has reinforced BAYC’s position as a leader in the NFT space, providing its community with additional layers of utility and scalability.
Such a path—issuing a native asset ahead of a proprietary blockchain launch—was also used by Azuki with its AnimeChain and the ANIME token.
Closing Thoughts
The growing trend of NFT projects integrating blockchain infrastructure suggests a promising future for the space. As more projects explore the potential of launching their own tokens and blockchains, the NFT sector is poised to transition from speculative assets to comprehensive ecosystems that offer greater utility and engagement.
At DWF Ventures, we are committed to supporting innovation within the NFT space and backing builders who are pushing the boundaries of what is possible. If you are a builder interested in partnering with our crypto venture capital firm, don’t hesitate to contact DWF Ventures.
Related Articles
The year 2023 has been a rollercoaster for the crypto market, characterised by challenges and
How Ethereum plans to evolve and remain the leading Layer 1 blockchain
As Layer 2 (L2) solutions for Ethereum continue to grow, the blockchain space has faced a new issue