A brutal Crypto Winter nearly starved the NFT market—most projects couldn’t stand the cold. But there’s one that was seemingly built for the climate. It’s only fitting that it’d be Pudgy Penguins—Decrypt’s NFT project of the year.

Buzz around NFTs froze in mid-2022, and the once-lively space became very chilly indeed. Prices fell, sales collapsed, and the all-important vibes around the NFT world increasingly became frigid as collectors griped and projects saw revenue largely evaporate.

That was true for the vast majority of prominent NFT projects that pumped prior to the bear market. But Pudgy Penguins bucked the trend and only appeared to get stronger amid the brutal crypto collapse—ending the year in front of millions of people at Walmart stores across the country.

That’s in part because the project already went through its toughest times before the so-

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Author: Andrew Hayward

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