A brief history of Pudgy Penguins:
Pudgy Penguins is an iconic NFT project that was launched on the Ethereum network in July 2021. It is a collection of 8,888 unique cartoon penguin NFTs, each with random features generated by up to 150 hand-drawn components. These penguins are different because they can have up to 5 randomly generated unique features, including special backgrounds, body shapes, shirts, and accessories. With its unique art style and community power, Pudgy Penguins has quickly become one of the stars of the NFT craze.
In the early days of the project, Pudgy Penguins was launched in July 2021 by X-user ColeThereum and anonymous users Mr. Tubby, Mickyj, and Jonah. But as the project developed, governance issues led to a crisis of trust. It was alleged that the initial founders were suspected of stealing funds allocated for project development. Doubts about the integrity of the project founders seriously affected the value of Pudgy Penguins.
In early 2022, the NFT community pushed for a team change, and community member Luca Netz took over the project for 750 ETH and became CEO, giving Pudgy Penguins a new direction. The new team members include CMO Nicholas Ravid, CTO Lorenzo Melendez, Chief Creative Officer Peter Lobanov, and COO Dr. Kaizu. The new team is dedicated to building it into a global brand, focusing on IP development and cross-domain collaborations such as toys, animation, and metaverse projects.
Pudgy Penguins Ecosystem
The brand extension strategy of Pudgy Penguins revolves around digital IP as the core, achieving diversified development through cross-domain integration. The project is not limited to the NFT market but has extended its brand into multiple areas.
Pudgy Toys
Pudgy Penguins has launched a series of physical toys called Pudgy Toys, which is the first commercial product directly authorized by the community. Released on May 18, 2023, as an extension of NFTs, it targets children and collectors. Pudgy Toys not only have a high degree of cuteness but also connect with the Pudgy World virtual world through QR codes. This innovation enhances the interaction between toys and the digital world, providing users with a richer experience. Pudgy Toys can be purchased on Amazon, in Walmart stores, or on the Pudgy Penguin official website.
Pudgy World
Pudgy World is the metaverse world launched by Pudgy Penguins on zkSync, providing personalized interactive experiences for holders.
Pudgy Toys have QR codes that allow users to scan to enter Pudgy World, where they can explore the virtual penguin world, including playing mini-games and building their own ice houses. The launch of this virtual world not only enhances community cohesion but also makes Pudgy Penguins an important bridge for exploring the Web3 world within the Web2 world.
Pudgy Penguins NFT
Pudgy Penguins NFT includes Pudgy Penguins and the derivative NFT series Lil Pudgy and Pudgy Rods.
Derivative NFT Series
Lil Pudgy
Lil Pudgy is a collection of 22,222 NFTs launched in December 2021 and minted on the Ethereum blockchain. Pudgy Penguin holders received these NFTs as free airdrops, while the rest were sold through public sales.
Pudgy Rods
Pudgy Rods, also known as “rogs” (previously called “Pudgy Presents”), were released by the original Pudgy Penguins team as free NFTs on August 30, 2021, with each Pudgy Penguins releasing one. Pudgy Rods are packaged as colorful eggs wrapped in red ribbons. On Christmas Day, the egg is finally revealed: it contains fishing rods.
$Pengu Token:
Founder Luca announced on December 6 on Twitter that the official coin $PENGU of Pudgy Penguins will be issued on the Solana chain.
**Total Supply:** 88,888,888,888 (8.889 billion), initial circulating supply of 62,415,951,646, with the specific chip structure as follows:
Public Goods 4%
Proliferation 4%
Liquidity 12.35%
Pudgy Community 25.9%
Other Communities 24.12%
FTT Holders 0.35%
Current and Future Teams 17.8%
Company 11.48% (One year cliff, three-year linear)
Airdrop:
On December 16, Binance announced that the Binance Holder airdrop has launched its 5th project Pudgy Penguins (PENGU), and $PENGU will be listed on December 17, 2024, at 22:00 (UTC+8), while BNB holders account for 3% of the circulating supply.
The reason for the widespread attention on Pengu is not only due to the impact of its listing on Binance but also driven by its extensive airdrop coverage that garnered community attention.
25.9% of the total supply of the PENGU token will be distributed to members of the Pudgy Penguins ecosystem through airdrops, while another 24.12% will be allocated to 'other communities', which include active addresses on Solana and ETH. Eligible participants will have 88 days to claim their airdrops.
The image is from Foresight News, where Alex Liu compiled the corresponding airdrop quantities for each role from publicly available internet information. Interestingly, the NFT that can claim the most PENGU tokens is not Pudgy Penguins, but the rarest Pudgy Rods.
Success Factors of Pudgy Penguins:
Brand and IP Development
Pudgy Penguins wins resonance from young people and users of various ages through its cute and adorable character images. CEO Luca Netz emphasizes that branding and marketing are core drivers. The launch of physical toys has also made the virtual IP more tangible. In seven months, the sales of physical toys exceeded 750,000 units.
Innovative Marketing
Billions of exposures every month: dynamic GIF views reach 13.8 billion, Instagram followers exceed 1.23 million, TikTok views surpass 10 million. Moreover, offline activities such as the Miami Basel Art Fair have also boosted the brand's influence.
IP Licensing and Sharing
Pudgy Penguins recently paid millions of dollars in royalties to NFT holders and launched the on-chain IP licensing platform OverpassIP, planning to create global brands like Hello Kitty and Pokemon.
Gamification and Digital Experience
In 2024, Pudgy World on-chain open-world game will be launched, supported by zkSync, combining physical toy QR codes to achieve a closed-loop experience between digital and reality.
Future Roadmap of Pudgy Penguins:
Pudgy Penguins will release its own public chain Abstract and an incubator plan.
Abstract is a Layer 2 built using Matter Labs' ZK Stack and EigenLayer's data availability layer EigenDA, making the development process of decentralized applications easier, cheaper, and safer. In addition to building this chain, Pudgy Penguins also plans to establish a developer incubator aimed at helping applications progress from 0 to 1.
Abstract recently received an investment of $11 million led by Peter Thiel's Founders Fund. This strategic funding round was led by Peter Thiel's Founders Fund, with other investment institutions including Fenbushi Capital, 1kx, Everest Ventures Group, and Selini Capital.
Pudgy Penguins has two missions: first, to become synonymous with penguins globally. When people think of penguins, they hope they immediately think of Pudgy Penguins; second, to become the mascot and representative of cryptocurrency.
Summary:
Since the launch of Pudgy Penguins, it has experienced both the highlights and the darkest moments of NFTs, but Pudgy Penguins has grown from a controversial early NFT project to a globally influential brand in both the blockchain and real worlds, thanks to its unique cartoon image, innovative brand building, and strong community power. NFTs have also risen from their lowest point of around 1 ETH to the current floor of 17.9 ETH, once becoming the most outstanding NFT of this year.
Pudgy Penguins redefines the value and use cases of NFTs through the physicalization of toys, the launch of the virtual interactive platform Pudgy World, and innovative token economics and IP licensing. Driven by CEO Luca Netz, the strategic development of Pudgy Penguins demonstrates unprecedented innovation and diversity, laying a solid foundation for the brand’s future from building the ecosystem Abstract to the incubator plan and cross-platform IP licensing. By continuously deepening the brand mission, Pudgy Penguins has not only successfully attracted a wider audience but also injected vitality into the entire Web3 ecosystem.
In the future, Pudgy Penguins aims not only to become a global symbol of penguins but also to become a representative mascot in the cryptocurrency space. On the path of combining technology and culture, it has already taken solid steps and contributed to the growth of Web3 users.
Related links:
Understand Pudgy Penguins in one article
Binance Pudgy Penguins (PENGU) Report
End-of-year benefits! PENGU Wealth Effect, Comprehensive Analysis of Airdrop Qualifications
How did Pudgy Penguins become a blue-chip NFT project?
Latest interview with Pudgy Penguin CEO: a16z could have acquired Pudgy equity cheaply, but they chose to write a blank check for Moonbirds | In-depth conversation
Conversation with Pudgy Penguin CEO: Revealing the story behind Pudgy Penguin NFT 'going against the tide'
Blog: https://media.pudgypenguins.com/blog
Official website: https://www.pudgypenguins.com/
Twitter: https://x.com/pudgypenguins
