Expanding the Penguin Ecosystem
Pudgy Penguins, one of the most beloved NFT collections, is diving deeper into the crypto world with its own cryptocurrency, Pengu. The team announced the launch of Pengu on the Solana network via X, with the token expected to go live before the year ends. “With PENGU, millions of Pudgy Penguin fans—and those new to crypto—can now align themselves with the character,” the announcement stated, underscoring the project’s aim to bridge Web3 and mainstream audiences.Tokenomics and Allocation
The Pengu token will have a total supply of 88,888,888,888, with a detailed allocation plan:Key Highlights:
This structure balances community empowerment with strategic growth, creating a sustainable token economy.
- 25.9% for the Pudgy Penguins community.
- 24.12% for broader communities and new "Huddle" members.
- 17.8% for team members, under a one-year cliff and three-year vesting period.
- 11.48% retained by the company under the same conditions.
From NFTs to Cryptocurrency
While the Pudgy Penguins NFTs remain on Ethereum, the choice of Solana for Pengu reflects the network's efficiency and scalability for token projects. Pudgy Penguins’ established brand, bolstered by retail deals with Walmart and Target, gives Pengu a unique edge in reaching both crypto enthusiasts and mainstream audiences.Market Impact
The NFT collection’s value is soaring, with its floor price at 17.75 ETH ($68,535) and a market cap of $609 million, per CoinGecko. Daily trading volumes jumped by 245% to 2,082 ETHWhat’s Next for Pudgy Penguins?
Pengu’s launch not only solidifies Pudgy Penguins’ position in Web3 but also introduces an accessible on-ramp for non-crypto audiences. Will Pengu become the next big thing in crypto? Time will tell, but with a thriving community and strong retail partnerships, the Penguins are poised for success.
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