#PENGU The renowned NFT brand, Pudgy Penguins, has taken a significant leap by launching its new token, PENGU, on the Solana blockchain. The announcement, shared on X, marks a major milestone for one of the most beloved NFT collections. Shortly after its debut, Binance integrated PENGU, signaling strong support for this new venture.
This latest initiative includes an impressive supply of 88,888,888,888 PENGU tokens, giving users 88 days to claim their share before any remaining tokens are locked and burned. Pudgy Penguins CEO Luca Netz urged participants to verify their connections and authenticate the companyโs accounts before engaging, ensuring a safe and seamless experience.
Multichain Expansion is the Goal๐ฏ
By launching PENGU on Solana, parent company Igloo Inc. is taking its first steps toward a multichain ecosystem, with plans to expand to Ethereum and Abstract. Earlier this month, the company expressed its vision:
"At Igloo Inc., we are committed to making Pudgy Penguins a globally recognized character.โ
This move is expected to significantly broaden Pudgy Penguinsโ audience and strengthen its fandom. With this multichain strategy, the brand is positioning itself as a key player not just in NFTs but across the wider blockchain landscape.
Beyond NFTs: Building a Global Brand๐จ
Since its inception in August 2021, under the leadership of Luca Netz, Pudgy Penguins has grown into a global NFT phenomenon with a market cap of approximately 164,000 ETH. However, the team is determined to expand beyond NFTs and plush toys into entertainment sectors such as movies, TV shows, and games.
"We aspire to make Pudgy Penguins as iconic as Mickey Mouse," Netz said during an interview with TechCrunchโs Jacquelyn Melinek. The recent Walmart debut of Pudgy Toys sparked excitement but also some issues, as reports surfaced of damaged toys and stolen QR codes by overenthusiastic fans. Despite these challenges, the launch of PENGU marks a new era for Pudgy Penguins as they work to solidify their place in pop culture and the crypto world.
#PENGULaunch #NFTsGoMultichain #CryptoInnovation $PENGU $BTC $ETH
