Exploring the PENGU Token $PENGU
What Is Pudgy Penguins?
Pudgy Penguins is an NFT collection comprising 8,888 unique penguin characters. Each penguin is handcrafted from over 150 image elements, resulting in characters with distinctive personalities. Launched in July 2021, the collection gained immediate attention, selling out in just 19 minutes.
The collection became famous for its adorable designs and now boasts an extraordinary market value. At the peak of NFT popularity, one Pudgy Penguin (#6873) sold for $640,000. As of December 2024, the collection has a market capitalization of approximately $1.19 billion, with its floor price increasing by 230% in the past month.
Pudgy Penguins has also expanded beyond the digital realm. The brand launched Pudgy Toys, a line of physical products such as collectible toys, plushies, and figurines inspired by its NFT artwork. These toys have become a primary revenue source, generating over $10 million through partnerships with major retailers like Walmart, Target, and Walgreens. Additionally, the Pudgy Penguins ecosystem now includes supplementary collections like Lil Pudgys, Pudgy Rods, and the Pudgy Party mobile game, bringing its adorable characters to smartphones.
PENGU Token: The Driving Force Behind Pudgy Penguins
PENGU is the official token of the Pudgy Penguins ecosystem, launched on the Solana blockchain with a total supply of 88.88 billion tokens. The token aims to strengthen the connection among the growing Pudgy Penguins community, encompassing both existing NFT holders and new users interested in the project.
As a native token, PENGU serves as a bridge between the Pudgy Penguins NFT ecosystem and the broader community. Plans are underway to expand PENGU's reach to the Ethereum network and Abstract, a layer-2 solution developed by Igloo Inc., the parent company of Pudgy Penguins.
