Article source: Yi Nan Says
A brief history of Pudgy Penguins:
Pudgy Penguins is an iconic NFT project launched in July 2021 on the Ethereum network, with a total of 8,888 unique cartoon penguin NFTs, each with randomly generated features from up to 150 hand-drawn components. These penguins are unique as they can have up to five randomly generated unique features, including special backgrounds, body shapes, shirts, and accessories. With its unique artistic style and community power, the project quickly became one of the stars in the NFT craze.
In the early stages of the project, Pudgy Penguins was launched in July 2021 by X user ColeThereum and anonymous users TubbyMr., Mickyj, and Jonah. However, as the project developed, governance issues led to a crisis of trust. It is alleged that the initial founders misappropriated funds allocated for project development. Doubts about the integrity of the project founders significantly impacted the value of Pudgy Penguins.
At the beginning of 2022, the NFT community pushed for a team change, and community member Luca Netz took over the project for 750 ETH and became the CEO, giving Pudgy Penguins a new direction. The new team members include Chief Marketing Officer Nicholas Ravid, Chief Technology Officer Lorenzo Melendez, Chief Creative Officer Peter Lobanov, and Chief Operating Officer Dr. Kaizu. The new team is committed to building it into a global brand, focusing on IP development and cross-domain cooperation, such as toys, animation, and metaverse projects.
Pudgy Penguins Ecosystem
Pudgy Penguins' brand expansion strategy 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 fields.
Pudgy Toys
Pudgy Penguins launched the physical toy series Pudgy Toys, which is the first commercial product directly authorized by the community. Released on May 18, 2023, as an extension of the NFT, targeting children and collectors. Pudgy Toys not only have high 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, Walmart stores, or the official Pudgy Penguins 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 and enter Pudgy World, where they can explore a virtual penguin world, including playing mini-games and building their own icehouses. The launch of this virtual world not only enhances community cohesion but also positions Pudgy Penguins as an important bridge for exploring the web3 world from the web2 world.
Pudgy Penguins NFT
Pudgy Penguins NFT includes Pudgy Penguins and 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 a free airdrop, while the rest were sold through a public sale.
Pudgy Rods
Pudgy Rods, also known as 'rogs' (previously called 'Pudgy Presents'), were released on August 30, 2021, by the original Pudgy Penguins team as free NFTs, with each Pudgy Penguins releasing one. Pudgy Rods are packaged as Easter eggs wrapped in red ribbons. On Christmas Day, the Easter egg was finally revealed: it contained a fishing rod.
$Pengu Token:
Founder Luca announced on December 6 via Twitter the official launch of Pudgy Penguins' official coin $PENGU, which will be issued on the Solana chain.
**Total Supply:** 88,888,888,888 (8.889 billion), with an initial circulation of 62,415,951,646, the specific chip structure is 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 Team 17.8%
Company 11.48% (one-year cliff, three-year linear)
Airdrop:
On December 16, Binance announced that the Binance Holder airdrop has launched the 5th phase project Pudgy Penguins (PENGU) and will list $PENGU on December 17, 2024, at 22:00 (UTC+8), with BNB holders accounting for 3% of the circulation.
The reason for the widespread attention on Pengu is not only due to Binance's listing influence, but also driven by the community's broad focus on its extensive airdrop coverage.
25.9% of the total supply of PENGU tokens will be distributed to members of the Pudgy Penguins ecosystem through airdrops, while 24.12% will be allocated to 'other communities', including active addresses on Solana and ETH. Eligible participants will have 88 days to claim the airdrop.
The image shows Foresight News, where Alex Liu compiled the number of airdrop tokens corresponding to each role from publicly available information, revealing that the NFT with the most PENGU tokens to claim is not the Pudgy Penguins but the highest rarity Pudgy Rods.
Success Factors of Pudgy Penguins:
Brand and IP Development
Pudgy Penguins resonates with young people and users of various age groups through cute and adorable character images. CEO Luca Netz emphasizes that branding and marketing are the core drivers. The launch of physical toys also adds more dimensionality to the virtual IP. Within seven months, physical toy sales 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 exceed tens of millions. In addition, offline events such as the Miami Basel Art Fair also boost brand 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, the Pudgy World on-chain open-world game will be launched, supported by zkSync, combining physical toy QR codes to create a closed-loop experience between digital and reality.
Future Roadmap of Pudgy Penguins:
Pudgy Penguins will launch its own public chain Abstract and an incubation 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 achieve from 0 to 1.
Abstract recently secured $11 million in funding led by Peter Thiel's Founders Fund. This strategic funding round was led by Peter Thiel's Founders Fund, with other investment firms including Fenbushi Capital, 1kx, Everest Ventures Group, and Selini Capital.
Pudgy Penguins has two missions: First, to become synonymous with penguins worldwide. When people think of penguins, they hope to immediately think of Pudgy Penguins; Second, to become a 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 the pudgy penguins, with their unique cartoon image, innovative brand building, and strong community power, have grown from a controversial NFT project in its early stages to a globally influential brand in both the blockchain and real world. NFTs have also risen from the lowest point of around 1 ETH to the current floor of 17.9 ETH, becoming one of the most outstanding NFTs this year.
Pudgy Penguins redefine the value and use cases of NFTs through the materialization of toys, the launch of the virtual interactive platform Pudgy World, and innovative token economics and IP licensing. Driven by CEO Luca Netz, Pudgy Penguins' strategic development showcases unprecedented innovation and diversity, from building the ecological chain Abstract to the incubation plan and cross-platform IP licensing, each step lays a solid foundation for the brand's future. By continuously deepening its brand mission, Pudgy Penguins not only successfully attracts a broader audience but also injects 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 field. It has made solid strides on the path of combining technology and culture, contributing to the growth of web3 users.
Related Links:
Understanding Pudgy Penguins in one article
Binance Pudgy Penguins (PENGU) Report
Year-end benefits! Comprehensive analysis of PENGU wealth effect and airdrop eligibility
How did Pudgy Penguins become a blue-chip NFT project?
Pudgy Penguin CEO's latest interview: a16z could have acquired Pudgy equity at a low price, but they chose to write a huge check to Moonbirds | In-depth conversation
Dialogue with Pudgy Penguins CEO: Unveiling the story behind Pudgy Penguins NFT's 'going against the tide'
Blog: https://media.pudgypenguins.com/blog
Official website: https://www.pudgypenguins.com/
Twitter: https://x.com/pudgypenguins
