As the NFT space matures from speculative hype cycles into a landscape of meaningful digital ownership, two projects have emerged as archetypes for community-first success: Pudgy Penguins and Doodles.
Both launched during the PFP (profile picture) boom of 2021. Both have weathered bear markets, leadership changes, and shifting user expectations. But what makes them stand apart today isn’t floor price or Twitter followers—it’s how they’ve each activated their communities as builders, storytellers, and brand evangelists.
This article breaks down how these two NFT collections—often compared, rarely understood in depth—create community value. From token mechanics to toys in Walmart, governance models to music collabs, we’ll explore how each ecosystem turns JPEGs into generational IP.
Origin Stories: From Mint to Movement
Pudgy Penguins began in July 2021 as a 8,888-piece Ethereum collection, initially seen as a “cute” underdog to top-tier PFPs like Bored Apes or CryptoPunks. However, early community enthusiasm was tested when the founding team was removed in late 2021 for mismanagement. In 2022, serial entrepreneur Luca Netz acquired the project, bringing brand clarity, operational rigor, and a mission: to build the most accessible, family-friendly NFT brand in the world.
Meanwhile, Doodles launched in October 2021 with art from Burnt Toast (Scott Martin) and leadership from Evan Keast (ex-Dapper Labs) and Jordan Castro. The 10,000-piece collection stood out for its pastel palette, inclusive characters, and imaginative vibe. Doodles leaned heavily into culture and creativity, prioritizing IRL experiences, artistic collabs, and long-term ecosystem tools over short-term speculation.
Both projects had strong communities from day one—but their founders had very different visions for what comes next.
On‑Chain Engagement & Holder Behavior
NFT floor prices tell only part of the story. Community value is reflected in how holders interact, how long they stay, and what they do beyond OpenSea.
Pudgy Penguins shows high retention and organic engagement. Over 60% of holders have held for more than a year. Many holders have licensed their penguins for merch or physical toys. On Twitter, Penguins post daily “vibes,” reinforcing a warm, supportive culture that resonates with normies and crypto natives alike.
Pudgy’s community is driven by emotional attachment and real-world utility. Every toy sold in Walmart includes a code that links to Pudgy World, creating a loop between ownership, identity, and experience. Pudgy World also allows users (even without an NFT) to create avatars, socialize, and earn traits—building a stickier ecosystem than traditional marketplaces.
Doodles, on the other hand, cultivates creativity and expression. Holders are highly active in Discord, sharing artwork, trait combinations, and avatar remixes. The launch of Doodles 2 on Flow introduced composable avatars and wearable traits—fueling deeper personalization and community content creation.
Doodles’ collector behavior shows higher turnover, as many engage with the platform during drops or events, then rotate into new creative outputs. Its value lies less in static holding and more in dynamic creation.
Where Pudgy is about emotional consistency, Doodles is about creative fluidity. Both models are valuable—just optimized for different user psyches.
Token Launch Strategies: PENGU vs. DOOD
Native tokens play a critical role in shaping incentives, access, and sustainability. Pudgy Penguins and Doodles both launched tokens—$PENGU and $DOOD, respectively—but their approaches diverged significantly.
$PENGU, launched in Q2 2025, focused on rewarding loyalty and expanding IP:
- Long-term holders received higher airdrops.
- Utility extended to in-game asset purchases, staking for IP rights, and toy customizations.
- Non-crypto users could use $PENGU through custodial flows without needing a wallet.
Within the first week of launch, $PENGU had a fully diluted market cap of $180 million and 65,000+ holders, with over 60% acquired via non-exchange channels.
$DOOD, launched alongside Doodles 2, took a more curated approach:
- No surprise airdrops—users had to engage with Doodles 2 first to qualify.
- Used to buy, trade, and rent traits; artists earn royalties in $DOOD.
- Designed as a utility token compliant in key jurisdictions.
Instead of a hype-driven launch, $DOOD saw slow organic growth, reaching a $90 million market cap in three weeks with consistent transaction volume.
$PENGU is mass-adoption focused. $DOOD targets creators and collectors. Both demonstrate how tokens can amplify value beyond speculation.
Physical IP & Real‑World Reach
NFTs are breaking out of digital wallets and entering toy aisles, art galleries, and music studios.
Pudgy Penguins revolutionized physical expansion with Pudgy Toys, sold in over 3,100 retail locations globally. Over 750,000 toys have been sold as of 2025. Each toy includes a code redeemable for traits in Pudgy World, allowing non-crypto users to join the digital ecosystem.
Holders licensed their own penguins for production, earning royalties. By removing jargon and focusing on emotional design, Pudgy built a brand that transcended crypto culture.
Doodles took a culture-first, high-concept path:
- Appointed Pharrell Williams as Chief Brand Officer and launched Doodles Records.
- Hosted IRL experiences at Art Basel and NFT.NYC.
- Focused on phygital fashion drops and immersive storytelling.
Doodles isn’t in Walmart, but it’s in fashion capsules, Spotify playlists, and music studios. It’s positioned more as a cultural label than a retail brand.
Pudgy is the Funko Pop of Web3. Doodles is the digital Supreme.
Community Tools & Interactive Experiences
Community tools enhance utility and deepen engagement.
Pudgy World is a browser-based metaverse where users can create avatars, embark on quests, and unlock digital items using $PENGU or toy codes. It’s Web2.5 friendly, requiring no wallet, and includes daily challenges, social leaderboards, and story-driven experiences.
Pudgy also launched Myriads, a side-quest system for brand collaborations, with exclusive rewards.
Doodles provides a suite of creative tools:
- Doodles 2 enables modular avatar customization.
- Stoodio lets users create animated scenes and content with their NFTs.
- Doodlebank, a community treasury, funds community ideas and proposals.
Doodles offers fewer gamified elements but excels in enabling artistic output and co-creation. It’s a decentralized content studio.
Pudgy gamifies engagement. Doodles empowers creators.
Metrics & Market Performance
Pudgy Penguins (as of July 2025):
- Floor Price: 9.1 ETH
- Total Volume Traded: 140,000 ETH
- Unique Holders: ~5,200
- $PENGU Token Holders: 65,000+
- Toys Sold: 750,000+
Doodles:
- Floor Price: 1.9 ETH
- Total Volume Traded: 110,000 ETH
- Unique Holders: ~4,600
- Doodles 2 Wearables Claimed: 200,000+
- $DOOD Token Holders: ~42,000
- Treasury Size: $5.7 million
Pudgy leads in sales volume, retention, and public reach. Doodles excels in customization depth, cross-chain infrastructure, and treasury governance.
Strategic Fundraising & Infrastructure
Pudgy Penguins has remained self-funded, generating revenue from toy sales and IP licensing. It’s run like a lean, profitable startup focused on product execution. There were no venture capital raises or token presales—ensuring tight alignment with the community.
Doodles raised $54 million in VC funding from Seven Seven Six and others. With that, they built a full creative studio, launched Doodles 2 on Flow, and hired over 30 full-time team members. The focus is on infrastructure, cross-chain tools, and platform-scale content creation.
Pudgy is nimble and product-led. Doodles is capitalized and infrastructure-heavy.
Lessons in Community Value Creation
Pudgy Penguins delivers value through:
- Emotional branding and wholesomeness
- Empowering holders with licensing
- Frictionless onboarding for new users
- A self-sustaining loop of product and token engagement
Doodles delivers value through:
- Artistic expression and personalization
- Cultural collaborations with music and fashion
- Creative platforms for user-generated content
- A decentralized treasury for funding community ideas
Pudgy is about emotional comfort and economic agency. Doodles is about cultural identity and creative empowerment. Both prioritize long-term trust and consistent delivery.
The Future of NFT Community Value
The stories of Pudgy Penguins and Doodles reflect more than just two successful NFT projects—they represent two distinct, yet equally powerful visions for the future of community-driven digital assets.
In an industry where many projects fizzle out after a pump-and-dump cycle, these two have evolved beyond speculation by doubling down on authentic value creation, rooted in user experience, culture, and long-term utility.
Pudgy Penguins: The NFT Brand for Everyone
Pudgy Penguins shows us what happens when NFTs meet the mainstream, offering an on-ramp for kids, families, and newcomers who have never touched a wallet. By combining physical products, lovable IP, and seamless Web2.5 onboarding, Pudgy has created a self-sustaining retail flywheel—one that rewards loyalty, celebrates creativity, and invites the world in.
Its future likely includes:
- Greater toy distribution and IP licensing
- Expansion into gaming and animation
- A growing role for $PENGU in real-world and digital commerce
If NFTs are to become everyday consumer products, Pudgy Penguins may be the blueprint.
Doodles: The Evolving Canvas of Web3 Culture
Doodles, meanwhile, is staking its claim as Web3’s premier creative platform—where NFTs are not endpoints but starting points for expression, collaboration, and storytelling.
With strong VC backing and a focus on infrastructure like Doodles 2 and Stoodio, its roadmap could lead to:
- User-generated content at scale
- Cross-platform creative economies
- Major collaborations with music, fashion, and gaming
Where Pudgy is Pixar, Doodles is Adobe—both incredibly valuable, but tailored to different audiences and use cases.
Final Thoughts
In the end, Pudgy Penguins and Doodles reveal that there is no one-size-fits-all model for community value in NFTs. But they do share common threads:
- They prioritize long-term trust over hype
- They design experiences, not just assets
- They empower holders to become participants, not just spectators
As the NFT space matures, the most successful projects won’t be those that promise the moon—but those that deliver consistent, contextual, and emotionally resonant value to their communities.
Whether you’re building or buying, the lesson is clear: community isn’t an outcome—it’s the product.
