NFT Market Rebounds: Multiple Head Projects Announce Launch Coin Plans, Blue Chip Projects Become Mainstay of Recovery.

Recently, with the launch coin plans of top projects such as Magic Eden and Pudgy Penguins being announced one after another, confidence in the Non-fungible Token market has been effectively reignited, driving prices and volume to rebound strongly.

The wave of Non-fungible Token airdrops is coming, and several leading projects have announced launch coin plans

A new round of launch coin craze is coming, and the airdrop event of the Non-fungible Token trading market Magic Eden has ignited this wave of Non-fungible Token frenzy.

A few days ago, Magic Eden officially launched the TGE (Token Generation Event) and quickly landed on major exchanges. The sunshine-style airdrop has become a hot topic in the community. While earning attention with the airdrop activity, Magic Eden also took the opportunity to frequently announce a series of product developments, including allowing users to trade Solana Non-fungible Tokens with ME tokens, allowing users to trade all assets on all chains in the next version, and launching community-first features. According to Jack Lu, co-founder of Magic Eden, the listing of ME tokens is just the beginning, and there are more plans to come. These measures have further increased the attention on Magic Eden and the entire Non-fungible Token market.

Meanwhile, as another major trading platform, OpenSea has also sparked speculation about airdrops. According to Mike Dudas, co-founder of The Block, who recently revealed on social media that OpenSea has registered a foundation in the Cayman Islands. Since foundations are typically non-profit organizations, they can effectively avoid tokens being seen as securities, making this registration widely viewed as preparation for token issuance. It is worth mentioning that OpenSea announced last month that it will launch a new version in December, and the beta version shows that loyalty programs and traceability rewards may be introduced.

According to the latest data from NFTpluse, in the past year, OpenSea ranked second in the Non-fungible Token market with approximately 1.2 million users, with a market share of 23.5%, second only to Magic Eden. Once OpenSea starts airdropping, its huge user base may reignite the passion of the Non-fungible Token market.

In addition, the leading project of Non-fungible Token, Pudgy Penguins, also announced the TGE plan during this time, allocating about a quarter of the total token amount to the community. According to user X @BTCThinker88's analysis, the airdrop of Pudgy Penguins' PENGU tokens may become one of the largest wealth creation events in 2024, with an expected average airdrop income per holder reaching $31,000 to $61,000. Given that Pudgy Penguins CEO Luca Netz previously revealed that the PENGU token has not yet been snapshot, this Non-fungible Token has also quickly become one of the hot targets in the market.

According to the Non-fungible Token Price Floor data, as of December 16th, the floor price of Pudgy Penguins has surged to 33.7 ETH, an increase of over 236.9% in the past 30 days, with a monthly volume of up to 160 million US dollars. Currently, the market value of Pudgy Penguins is close to 1.2 billion US dollars, surpassing the Bored Ape Yacht Club (BAYC) and second only to the highest market value CryptoPunks.

Blue-chip project becomes the main force for the strong rebound of Non-fungible Tokens

Currently, blue-chip Non-fungible Token projects are showing strong gains and trading volume, becoming the main driving force behind the market recovery.

CryptoSlam data shows that in the past 30 days, the total trading volume of the Non-fungible Token market is about 720 million US dollars, with transactions on Ethereum, Bitcoin, and Immutable all achieving double-digit growth, demonstrating strong market recovery momentum.

During the market recovery, the majority of the trading volume comes from blue-chip Non-fungible Token projects. According to the Non-fungible Token Price Floor statistical data, the top ten Non-fungible Token projects by market capitalization have collectively achieved a trading volume of $470 million in the past 30 days, accounting for approximately 64.9% of the overall market. Among them, Pudgy Penguins, Lil Pudgys, and Bored Ape Yacht Club have the highest volume.

At the same time, the market's recovery is also reflected in the price performance of blue-chip Non-fungible Tokens. The Non-fungible Token Price Floor data shows that in the past 30 days, the average floor price of the Top 10 Non-fungible Tokens has increased by 91.7% (calculated in coin terms), with Pudgy Penguins, Lil Pudgys, and Azuki showing particularly significant increases. This further validates the significant impact of airdrop activities on trading volume and floor prices, demonstrating the strong resilience of blue-chip projects.

From a more granular market performance perspective, the practical Non-fungible Token and PFP/Avatar categories show the most prominent upward momentum. According to Non-fungible Token Price Floor data, the market value of these two sectors has both risen by more than 85%. In contrast, the performance of gaming Non-fungible Tokens and ancient Non-fungible Tokens has been relatively flat, failing to keep pace with the market's recovery.

"The market is about to usher in the most prosperous Non-fungible Token bull market in history. AI will become extremely wealthy, and as it is unable to purchase physical luxury goods, AI will turn to purchasing Non-fungible Tokens." Andrew Kang, a partner at Mechanism Capital, recently predicted in a post.

Yat Siu, co-founder of Animoca Brands, also recently stated that the Non-fungible Token market will experience a strong rebound. Despite some failures in this field, Non-fungible Tokens will continue to rise as commodities of identity and status.

VanEck pointed out in the "Top 10 Cryptocurrency Predictions for 2025" that although Non-fungible Tokens face challenges, some excellent projects have successfully transcended speculative value through strong community bonds and resisted downward trends. For example, Pudgy Penguins has successfully transformed from collectible toys to consumer goods, Miladys has gained cultural status in the field of satirical internet culture, and the Bored Ape Yacht Club has developed into a global cultural force. VanEck believes that new affluent users will invest in Non-fungible Tokens not only as speculative investments, but also as assets with enduring cultural and historical significance. They predict that the annual volume of Non-fungible Tokens could reach $30 billion, accounting for approximately 55% of the peak value in 2021.

Overall, blue-chip projects are undoubtedly the core force in the recovery of the Non-fungible Token market. Despite the uncertainties in the overall market rebound, the wave of airdrops has effectively stimulated market sentiment in the short term.