Non-fungible token (NFT) mission Pudgy Penguins is winding down its cellular sport Pudgy Occasion and halting additional improvement.In an X put up, the staff stated on Saturday that it might shift its gaming assets towards Pudgy World, a browser-based expertise which it described because the flagship gaming product for the Pudgy Penguins ecosystem. “We’ve made the troublesome choice to wind down Pudgy Occasion and halt additional improvement,” the staff wrote, including that Pudgy World provided higher potential for scalability and introducing new customers to the Pudgy Penguins model. The cellular sport launched in August 2025 and surpassed 500,000 downloads on Google Play alone. Pudgy Occasion stated whole downloads have exceeded 1 million.Pudgy Penguins is consolidating its gaming ambitions round a single flagship product because the mission expands past NFTs by way of initiatives spanning toys, gaming, licensing and leisure.Complete NFT market capitalization climbed to almost $1.5 billion on Monday from greater than $1.3 billion on Friday, in line with CoinGecko, however stays far beneath its 2022 peak of over $17 billion.7-day NFT market capitalization information. Supply: CoinGeckoCrypto video games wrestle to search out sustainable enterprise fashions Pudgy Occasion’s wind-down comes as one other Web3 gaming mission, Fishing Frenzy, and its developer, Uncharted, introduced they might stop operations after failing to ascertain a viable crypto-gaming mannequin.“Regardless of our greatest efforts, we had been in the end unable to show our thesis on crypto gaming and couldn’t discover product-market-business match,” Fishing Frenzy stated in an X put up on Monday.The staff stated the corporate had spent the final yr testing approaches and totally different audiences, however had not discovered a path that impressed the boldness to proceed. Associated: Binance to finish NFT assist on change, shift service to walletFishing Frenzy will shut down its servers on June 25 at 2:00 am UTC. The mission has stopped promoting USDC packages and made its FISH token spend-only and untradable.The staff stated that the USDC remaining within the FISH/USDC liquidity pool can be redistributed to group members and stakers. Journal: Does ‘Paper Bitcoin’ imply there’s a vast provide of BTC?
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