#现实世界资产代币化 Seeing the Fat Penguin's $500,000 Christmas animation campaign in Las Vegas sparks my first thought—that this is another milestone in the branding of NFT projects.

I still remember the crazy period in 2021 when everyone was discussing on-chain data, rarity, and floor prices. But now? Project teams are not burning money on Discord operations; they are playing animations on the most symbolic screens in the real world. This shift is worth pondering.

From a historical perspective, this is actually a microcosm of the wave of real-world asset tokenization. When digital assets need to gain presence and recognition in physical space, project teams are no longer satisfied with self-sustaining virtual ecosystems. Pudgy Penguins choosing to advertise during Christmas, a global peak in consumer activity, and on traffic hubs like Sphere—what does this indicate? It shows they have rebranded themselves from purely digital products to consumer brands.

This reminds me of some failed cases from a few years ago—projects that only wanted to play valuation games on-chain and ignored real-world commercial conversion, ultimately fading away. Those that survive and thrive are often the ones that understand how to convert virtual identities into real consumption power.

Of course, whether the $500,000 investment can translate into genuine business returns depends on subsequent products and operations. But the signal itself is very clear—tokenized assets are evolving, shifting from financial attributes to consumer attributes. In this cycle, whoever can bridge the virtual and real worlds will hold the discourse power.