Unveiling its IPO plans! AppliPie reveals Fluf World's metaverse ambitions
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Unveiling its IPO plans! AppliPie reveals Fluf World's metaverse ambitions
"Great creators + community-owned IP, just like BAYC."
Navigating Web3 tides with focused insightsText: Morty, TechFlow
“Great creators + community-owned IP—think BAYC,” this is Outlier Ventures’ brief evaluation of Fluf World, the NFT project soon to go public via SPAC and list on Nasdaq, as stated in their article “Why We Invested in Fluf World.”
In Outlier Ventures' view, Fluf is not merely a PFP (profile picture) NFT—it's an NFT collection embedded with rich audiovisual language, capable of serving as avatars in the metaverse or access tickets into virtual worlds. The founding team behind Fluf World, Non-Fungible Labs, has demonstrated ambitious metaverse aspirations for Fluf World as an application-driven PFP NFT. Moving forward, they plan to launch additional NFT collections aligned with Fluf World’s audiovisual identity, aiming to build a layered value ecosystem within the metaverse—just like BAYC envisioned.
In today’s PFP NFT landscape, people increasingly value the intangible benefits JPGs bring—such as social clout and status. BAYC exemplifies this perfectly: owning a BAYC carries social influence comparable to driving luxury cars or wearing high-end watches. In certain circles, it may even serve as compelling conversation starter—a gateway from BAYC ownership to discussions about Web3’s transformative production relationships, attracting attention from outsiders.
More importantly, after gaining fame, BAYC quickly began building a metaverse empire driven by its intellectual property atop its cultural and social value. Yet they are still only at the beginning; after launching land sales, the journey of actual metaverse development remains long. Meanwhile, Fluf World has already advanced significantly along this path.
Understanding Fluf World
On August 7, 2021, Fluf World launched, with each Fluf priced at 0.09 ETH. Flufs consist of 10,000 unique 3D rabbit avatars. To avoid excessive visual similarity, each Fluf was algorithmically generated using combinations of 270 attributes across 14 categories.
The founding team of Fluf Worlds, Non-Fungible Labs, possesses exceptional execution capabilities. Over time, they have consistently delivered on every aspect of their metaverse vision.
Non-Fungible Labs envisions Fluf Worlds as a vibrant underground world. Hence, a 3D fuzzy spider called Thingies was created around last year’s Halloween and airdropped to Fluf holders. Currently, the floor price of Thingies hovers around 0.6 ETH. Additionally, Fluf holders have also received NFT airdrops including Yat Egg, E.G.G.S, and Dr. Grordborts: Rayguns.
Following the minting of Fluf World, Fluf Holders gained whitelists for several projects such as ASM and Party Bear, most of which delivered solid returns. The ASM NFT had a mint price of 0.09 ETH and included one ASM Brains NFT plus four 3D AIFA athlete NFTs. Its current floor price stands at 2.99 ETH. Prior to receiving $ASTO token airdrops, the ASM Brains NFT briefly surged to a floor price of 4.8 ETH and now sits around 1.4 ETH.
Of course, an underground metaverse wouldn’t be complete without land, so Burrows, a land-based NFT, was introduced at a mint price of 0.22 ETH and currently maintains a floor price of 0.34 ETH. Fluf World has already released mobile applications for both Android and iOS platforms to showcase Burrows environments.
To date, the Fluf World ecosystem has rolled out products primarily across four major NFT collections: Flufs, Party Bear, Thingies, and Seekers. Each NFT collection serves distinct and clearly defined use cases. As users grow alongside the Fluf World ecosystem and develop trust in the founding team Non-Fungible Labs, there is strong reason to believe that these application-oriented NFTs will realize their envisioned real-world utility in the future.
Flufs
Flufs serve as the entry point into the Fluf World metaverse and act as digital avatars for holders within this virtual realm. Official developments will closely align with Flufs holders, who will receive priority access to future benefits.
Party Bears
As the name suggests, Party Bears are primarily geared toward metaverse party and social experiences—each 3D bear has the potential to become a DJ or atmosphere-setting host. Through Party Bears, we can participate in various online and offline social events, programming different music tracks and backgrounds into our 3D bears—one of Party Bears’ core features being the ability to fully customize your bear, including poses, scenes, and preferred music. Personalization, customization, and spontaneity—these represent the fundamental values of Party Bears.
Thingies
As a derivative NFT of Fluf World, beyond their adorable appearance, each Thingie gains creative abilities through integration with ASM AI functionality. Think of them as AI artists—procedurally generated NFTs capable of creating art via artificial intelligence. Furthermore, each Thingie comes with a unique backpack, potentially linked to future NFT airdrops.
Seekers
Seekers is a genesis NFT collection of 50,000 units launched by Sylo. Sylo is a decentralized wallet communication network enabling transfers between wallets and sending of NFTs. Each Seeker can function as a decentralized node within the Sylo network, contributing to its maintenance. Moreover, according to Fluf’s official statement, they plan further expansion on Seekers’ components and applications—for example, introducing new modular parts so players can equip or remove accessories from their Seekers NFTs similar to character gear systems in MMORPGs, modifying parameters to engage in Play-to-Earn games.
However, it should be noted that expanding multiple business lines presents new challenges for the Fluf World team—how to effectively collaborate with other NFT teams, continuously deliver enhanced metaverse experiences for holders, and generate ongoing buzz remain key concerns for deep participants and investors alike.
Looking ahead, Fluf World plans to launch The Mycelium token and support Play-to-Earn metaverse games, enhancing the extensibility of its ecosystem NFTs.
What’s the Secret?
Layered Value Accumulation
If you're a dedicated participant in Fluf World, you don't need complex market tactics like buying low and selling high—even just through ecosystem airdrops and whitelist perks, you could earn profits exceeding the intrinsic value of your original Fluf.
This is one of Fluf World’s defining characteristics: layering value upon value, delivering visible and substantial benefits to Flufs holders while reinforcing long-term holding confidence. These two aspects can be understood respectively as external attractiveness and diamond-handed conviction among holders.
Beyond airdrops and whitelists, partner NFT collections such as ASM NFT carry strong narrative power and ecosystem incentives that further bolster holder confidence in continued participation.
ASM (Altered State Machine) NFT is an NFT collection focused on artificial intelligence applications, allowing users to conduct machine learning and data training via ASM Brains to cultivate AI suitable for specific GameFi and metaverse environments. Beyond its promising long-term narrative, the ASM team has developed two games (the football game AIFA and racing game ATEM) to expand practical applications of the ASM AI system within GameFi and the metaverse. Holders of ASM Brains gain mints for ATEM Membership Cards (racing game membership cards), which in turn grant eligibility for future ATEM game ecosystem airdrops.
Party Bears follows a similar model, offering free airdrops such as HNI Pot NFTs.
Thus, fundamentally, this operates like a matryoshka doll system. However, the nested projects stemming from Fluf World generally possess clear use cases and coherent narratives—this isn’t simply a mechanism designed solely to inject more liquidity into the Fluf World NFT market. Instead, Non-Fungible Labs aims to construct a robust, community-centric metaverse ecosystem centered around the cute and quirky Fluf rabbits, leveraging diverse product layers and strong partnerships.
Caution Regarding Intellectual Property
Another notable point is Fluf World’s cautious approach to intellectual property rights—including its decision not to adopt the CC0 public domain license, which many praise as embodying Web3 spirit. (The CC0 license is a copyright waiver under which creators relinquish all rights to their work.)
The Fluf World intellectual property agreement states:
So long as you maintain ownership and control of the relevant NFT, you hold non-exclusive commercial rights to the FLUF and the underlying artwork of that specific character, as outlined in our licensing agreement. You do not have any rights to use the FLUF World brand or its registered trademarks, including the FLUF logo, without explicit written permission from the Non-Fungible Labs team. Ownership of NFTs is entirely governed by our smart contracts. Under no circumstances may we seize, freeze, or otherwise alter ownership of any NFT.
You may transfer certain rights to other commercial ventures, but any transfer of your NFT will be subject to previously assigned rights. You may print your FLUF World character on clothing or merchandise, incorporate it into video games or film projects, or use it however you wish. However, you cannot use the name “FLUF” on any commercial product unless directly tied to your FLUF’s name or number, indicating your ownership of the NFT. You must not use your FLUF in any project or derivative work involving hate speech, racism, pornography, or illegal content.
Artistic creation is subjective, and interpretation of art is equally subjective. Remixing and reinterpreting works are common practices. However, the CC0 license is a double-edged sword: meme NFTs like Mfers spread rapidly and have demonstrated significant value growth. Yet, some reinterpretations deviate from acceptable norms or unfairly discredit entire projects based on isolated misreadings.
BAYC’s experience offers a clear example. Despite its success, BAYC has faced accusations related to racism. Ryder Ripps, creative director of CryptoPhunks, claimed BAYC promotes racism and embraces alt-right symbolism. Allegations include similarities between the BAYC logo and the insignia of Waffen Totenkopf, a combat division of Nazi Germany’s army. Additionally, certain BAYC images feature militaristic elements such as Kamikaze pilots, swastikas, and Pickelhaube helmets (commonly seen in WWII).
Fluf World’s stance aims to protect the brand image of its ecosystem NFTs—allowing holders to utilize their NFT copyrights while preventing excessive or inappropriate remixes and interpretations. Additionally, Fluf World provides tools enabling holders to personalize and customize their Flufs, adjusting elements such as background, music, caves, backstories, and names. Moreover, Fluf supports breeding between male and female rabbits to create Fluflets that inherit traits from both parents.
How Effective Is This Approach?
According to data from NFTGo, Fluf World reached a peak floor price of 5.88 ETH. Overall sales trends show that average sale prices (blue line) consistently remain above floor prices (red line), indicating that higher-ranked Fluf World NFTs are particularly popular among collectors—they purchase with intent rather than purely speculative motives focused on flipping low-tier NFTs.
Then, what’s the cost?
Value fragmentation.
While Fluf World’s ecosystem NFTs contribute rich liquidity, attention—and thus value—is also dispersed. This might actually be the true bottleneck hindering Fluf World’s floor price appreciation: the vast ecosystem value is scattered across multiple assets. If we calculate the total market cap of Fluf World ecosystem NFTs (Flufs, PartyBears, Thingies, Seekers, Burrows), it amounts to approximately $189 million, compared to blue-chip projects like Doodles ($330 million) and Azuki ($390 million).
Other contributing factors could include the early developmental stage of Fluf World’s envisioned metaverse ecosystem, its brand effect still in the buildup phase, and overall lukewarm market sentiment toward 3D NFTs.
Nevertheless, for retail participants, this may be a positive aspect. Entry barriers determine participation levels—ordinary users can choose NFT collections matching their personal needs and aesthetic preferences without facing overwhelming financial pressure. Those who deeply engage with the Fluf World ecosystem are likely to reap rewards from growing alongside it.
As inspired by the documentary *Fantastic Fungi*, which influenced Fluf World:
“The main body of fungi actually grows underground, composed of long thread-like structures. These filaments grow one cell at a time, branching repeatedly, spreading in all directions—even three-dimensionally. This network of filaments is known as mycelium.”
Likewise, Fluf World is building its economy starting from cute rabbit NFTs, extending filament by filament, eventually forming a vast economic network. Deep participants growing alongside this economy will find both personal fulfillment and financial returns as the ecosystem expands.
DYOR.
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