The Pudgy Penguins NFT collection has surpassed the significant $100,000 mark as it prepares to launch its new ecosystem token, $PENGU, on the Solana blockchain.
Pudgy Penguins' Success in NFT Market
The Pudgy Penguins collection has reached a new milestone with its floor price on OpenSea at 27 ETH, equivalent to $102,600, making it the second most significant NFT collection after CryptoPunks. In the past month, its price has surged by 194%.
Introduction of $PENGU Token
The Pudgy Penguins team has announced the launch of the $PENGU token, which will take place in 2024 on the Solana blockchain. This decision demonstrates the collection's commitment to a multi-chain strategy and promises significant expansion.
Tokenomics and Future Plans
The total supply of the token will be 88,888,888,888 tokens. 25.9% of them will be distributed to the Pudgy Penguins community, and 24.12% to other communities. Team members will receive 17.8% subject to a one-year cliff and three-year vesting period. The company will retain 11.48% under the same conditions. Since its launch in 2021, the Pudgy Penguins collection has strengthened its position through partnerships with Walmart and Target.
The launch of the $PENGU token opens new opportunities for Pudgy Penguins, offering enhanced features and broader community reach.
