Pudgy Penguins token (PENGU) is now available, and the current price is around 0.030. After @pudgypenguins went online, many people returned with a lot of money! As long as you are a holder of Pudgy Penguins, Lil Pudgys, Rogs or SBTs, you can participate in the claim.
On the day of launch, nearly half of the total tokens were airdropped to the community, and the total circulation ratio reached 70%. $PENGU The token price once reached 0.7u, which is equivalent to a valuation of approximately 6 billion US dollars. It has now fallen back. It is really sunny. Whether you hold the penguin NFT or not, as long as your Ethereum or Solana wallet address is active or senior enough, you are eligible to receive the airdrop.
The claim period is 88 days, and any unclaimed portion by the deadline will be permanently locked or destroyed after the 88th day!
1. What is Pudgy Penguins?
Pudgy Penguins is a very popular NFT project running on Ethereum. Although it is not the first large NFT project to launch a native token, it has successfully surpassed BAYC to become the second-largest NFT project by market capitalization!
The story begins in 2021. At that time, Cole Villemain (online name ColeThereum) and three partners launched Pudgy Penguins. However, due to the team's failure to deliver on promises, along with various doubts and controversies, the project fell into a low period. By early 2022, the minimum price of Pudgy Penguins had dropped below 0.6 ETH, and the community had completely lost confidence in the team.
The turning point came in April 2022. An entrepreneur from Los Angeles, Luca Netz, took over the project for 750 ETH (approximately 2.5 million USD). After Luca took office, Pudgy Penguins not only reorganized but also saw a significant improvement in the project's minimum price and brand image.
In May 2023, Pudgy Penguins entered the physical market and launched Pudgy Toys. These toys not only appeared on the shelves of Target and Walmart but also became a hit on Amazon.
2. Advantages Introduction
Pudgy Penguins has a very strong brand, which is especially important for an NFT project. They have a clothing line with designs featuring Pudgy Penguins characters and igloos printed on T-shirts, hoodies, jackets, and even beanies.
Each product is meticulously crafted in the spirit of the Pudgy Penguins series, serving as an extension of digital identity. It helps bridge the digital and physical markets and reminds people that the Pudgy Penguins ecosystem exists in the real world beyond computer screens.
Moreover, they have a very rich ecosystem, such as: Pudgy World, which is the metaverse launched by the Pudgy Penguins ecosystem in the zkSync era; Lil Pudgy is a collection of 22,222 NFTs launched in December 2021 and minted on the Ethereum blockchain. Pudgy Bridge allows NFTs to be transferred across different blockchains, especially between Ethereum and Polygon. Through Pudgy Bridge, users can easily access Pudgy Penguin NFTs, and owners can interact with other ecosystems.
3. Token Distribution
Binance announced that PENGU has become its 5th phase HODLer airdrop project. From December 9 to December 13, users who use BNB to subscribe to fixed or flexible products on the Earn platform will have the opportunity to receive PENGU airdrop.
The specific distribution of tokens is as follows:
29.78% allocated to the team, investors, and advisors. This portion of tokens will be locked for 1 year, followed by a linear release over 3 years;
47.87% for community airdrop;
3% for Binance HODLer airdrop;
12.35% for initial liquidity;
4% to support public affairs development;
3% for marketing and expansion.
4. PENGU Valuation
PENGU is a rising star in the NFT sector, and being an 'animal MEME' style gives it broad market appeal. If we benchmark it against Binance's NFT series, such as APE and MOCA, their market capitalizations are currently around 1.3 billion USD; among animal-themed MEME projects, PEPE has a market cap of 8.1 billion USD, WOJAK is at 2.7 billion USD, and PNUT is at 1 billion USD.
Based on the above data, the reasonable valuation of PENGU is estimated to be between 1 billion and 8 billion USD. Currently, the market capitalization of PENGU is 1.88 billion USD, which is considered to be in a relatively lower position, and the project also has the concept of the metaverse. If the project's ecosystem continues to develop, there is still potential for a 2-3 times price increase!
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