Since its inception in 2021, the popular NFT project 'Pudgy Penguins' has swept the digital collectibles market with its healing and eye-catching image. Now, they are making another move, announcing the launch of the official token '$PENGU', and previewing its issuance on the Solana chain within this month.
The Pudgy Penguins team posted on the social platform X:
With $PENGU, millions of Pudgy Penguins fans, as well as a vast crowd who see them online and in life every day but haven't ventured into cryptocurrency, can finally establish a deeper connection with this adorable character.
Introducing $PENGU, the official coin of Pudgy Penguins.
Launching in 2024. Learn more below. pic.twitter.com/J715bODcM6
— Pudgy Penguins (@pudgypenguins) December 6, 2024
$PENGU issuance highlights preview
According to the team's explanation, the $PENGU token will be issued based on the Solana blockchain, with a total supply set at 88,888,888,888 tokens.
It is worth noting that while Pudgy Penguins' NFTs are built on the Ethereum chain, this time they have chosen to issue tokens on Solana, which highlights the team's active promotion of a 'multi-chain layout' strategic thinking.
At the same time, the team also announced the token distribution mechanism of $PENGU:
25.9% of the tokens will be returned to the loyal community of Pudgy Penguins;
24.12% reserved for other communities and new 'Huddle' members;
17.8% allocated to existing and future team members, with a one-year lock-up period and a three-year unlocking period;
11.48% will be retained by the company, following the same lock-up regulations.
From NFTs to physical, Pudgy Penguins is redefining the brand landscape.
Pudgy Penguins is not only a powerhouse in the NFT and cryptocurrency market but has also successfully expanded its influence into the physical world. In recent years, Pudgy Penguins has partnered with retail giants like Walmart and Target to bring merchandise into the physical market, extending the charm of NFTs to a broader audience.
Currently, the floor price of Pudgy Penguins' NFTs has reached 17.75 ETH (approximately $68,535), with a total market value of up to $609 million.
According to CoinGecko data, the trading volume of Pudgy Penguins surged by 245% in the past 24 hours, reaching 2,082 ETH (approximately $8 million), attracting market attention once again.
"$PENGU is launching this month! Popular NFT 'Pudgy Penguins' announces it will issue tokens on Solana" This article was first published on (Block Guest).
