Non-fungible token (NFT) venture Pudgy Penguins is winding down its cellular recreation Pudgy Social gathering and halting additional growth.
In an X put up, the group mentioned on Saturday that it could shift its gaming sources 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 Social gathering and halt additional growth,” the group wrote, including that Pudgy World provided better potential for scalability and introducing new customers to the Pudgy Penguins model.
The cellular recreation launched in August 2025 and surpassed 500,000 downloads on Google Play alone. Pudgy Social gathering mentioned whole downloads have exceeded 1 million.
Pudgy Penguins is consolidating its gaming ambitions round a single flagship product because the venture expands past NFTs by initiatives spanning toys, gaming, licensing and leisure.
Complete NFT market capitalization climbed to just about $1.5 billion on Monday from greater than $1.3 billion on Friday, in accordance to CoinGecko, however stays far under its 2022 peak of over $17 billion.
7-day NFT market capitalization information. Supply: CoinGecko
Crypto video games wrestle to search out sustainable enterprise fashions
Pudgy Social gathering’s wind-down comes as one other Web3 gaming venture, Fishing Frenzy, and its developer, Uncharted, introduced they’d stop operations after failing to ascertain a viable crypto-gaming mannequin.
“Regardless of our greatest efforts, we have been in the end unable to show our thesis on crypto gaming and couldn’t discover product-market-business match,” Fishing Frenzy mentioned in an X put up on Monday.
The group mentioned the corporate had spent the final yr testing approaches and completely different audiences, however had not discovered a path that impressed the arrogance to proceed.
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Fishing Frenzy will shut down its servers on June 25 at 2:00 am UTC. The venture has stopped promoting USDC packages and made its FISH token spend-only and untradable.
The group mentioned that the USDC remaining within the FISH/USDC liquidity pool can be redistributed to group members and stakers.
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