Title: “Fat Penguin” coin issuance and the potential rise of Pudgy Penguins, Abstract Chain, and OpenSea
Author: Wenser, Odaily Planet Daily
In the next 48 hours, the Pudgy Penguins project token, PENGU, is expected to be launched. As the token issuance approaches, the floor price of Pudgy Penguins NFT has risen to 33.7 ETH, worth nearly $140,000, which is only $10,000 different from the floor price of CryptoPunks.
At the same time, Abstract Chain, the L2 network of Igloo, the parent company of Pudgy Penguins, has announced that it will launch on the mainnet in January. OpenSea has been exposed to the news of registering the OpenSea Foundation in the Cayman Islands. The question is whether the three projects – PENGU, Abstract, and OpenSea – can capitalize on the Fat Penguin coin issuance.
With the PENGU token set to launch in 2024, the total token supply will be 88,888,888,888. The Pudgy community will own 25.9% of the tokens, with other communities receiving 24.12% of the tokens. Igloo plans to release PENGU on multiple chains, including Solana, Ethereum, and Abstract Chain. The success of Pudgy Penguins is tied to the performance of the PENGU token.
If the token performs well, it could boost the entire NFT market. Currently, the total market value of leading NFT series on the entire network is over $10 billion, with a 24-hour increase of 10.2%. The NFT transaction volume across the network in the past 24 hours reached $71,146,166, with an increase of 87.5%.
The future of the NFT market depends on the performance of the Pudgy Penguins project token PENGU.
Source
<p>The post Fat Penguin and Three Projects: PENGU, Abstract, and OpenSea Aim for NFT Market Recovery first appeared on CoinBuzzFeed.</p>
