{"id":815453,"date":"2024-12-28T03:23:29","date_gmt":"2024-12-28T09:23:29","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/28\/top-nft-brand-pudgy-penguins-to-release-pengu-token\/"},"modified":"2024-12-28T03:23:29","modified_gmt":"2024-12-28T09:23:29","slug":"top-nft-brand-pudgy-penguins-to-release-pengu-token","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/28\/top-nft-brand-pudgy-penguins-to-release-pengu-token\/","title":{"rendered":"Top NFT Brand Pudgy Penguins to Release PENGU Token"},"content":{"rendered":"
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Top NFT Brand Pudgy Penguins to Release PENGU Token<\/h2>\n

Pudgy Penguins is among the most popular NFT collections, and its comic penguins have a big presence on X, YouTube and Instagram.<\/h2>\n

Updated Dec 5, 2024, 3:04\u202fp.m. UTC<\/span>Published Dec 6, 2024, 2:00\u202fa.m. UTC<\/span><\/p>\n<\/div>\n

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A heavyweight from the once-hot NFT era is now getting into the cryptocurrency issuance game.<\/p>\n

Pudgy Penguins launched three years ago as a set of 8,888 NFTs depicting colorful and comical birds.<\/p>\n

Now, the team behind the project tells CoinDesk that they will release a token called PENGU this year on the Solana blockchain.<\/p>\n

Nearly a quarter \u2014 23.5% \u2014 of the 88 billion PENGU tokens will be reserved for owners of the project’s NFT collections like Pudgy Penguins, Lil Pudgys, Pudgy Rods and more. A further 22.02% will be available to the Solana and Ethereum communities, while 12.32% are set aside to provide liquidity on decentralized exchanges.<\/p>\n

“With $PENGU, the millions of Pudgy Penguin fans and the hundreds of millions of people who see and share the Pudgy Penguin every day now get the opportunity to align themselves with the character and become a part of The Huddle,” the team shared in a statement.
Pudgy is among the rare collections that managed to stay culturally relevant in the otherwise dreadful NFT business following the price crash from the 2021-2022 bull market. Many NFTs lacked real utility beyond being a digital brag. It was also difficult to fully realize gains after price bumps \u2014 as market liquidity was often inadequate to fill orders.<\/p>\n

The pivot comes as fun tokens and memecoins, unlike NFTs, have taken off and flourished in the last two years. Liquidity, relative cheapness, virality and ease-of-use are key reasons why people have flocked to these latest hot asset classes \u2014 even though fun tokens and memecoins fundamentally represent the same idea as NFT collections did: belonging to a passionate community.<\/p>\n

Official Pudgy Penguins channels have over 3 million followers across Instagram, X, TikTok and YouTube, and videos involving the characters have notched 32 billion views on Giphy.<\/p>\n

One of the brand’s TikTok accounts is focused on spreading good vibes under the “Pudgy Kindness” moniker \u2014 popularizing it as a feel-good service in the mainstream, outside of crypto circles.<\/p>\n

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Pudgy Kindness just crossed 1M followers on Tiktok. Of all the things we\u2019ve done at Pudgy, this is definitely my favorite. We\u2019re going to scale this 10x and change 1000s of lives in 2025. Stay tuned ???????? pic.twitter.com\/Eq1PylA5QQ<\/a><\/p>\n

\u2014 Luca Netz ????\u2733\ufe0f (@LucaNetz) November 24, 2024<\/a><\/p><\/blockquote><\/div>\n

It goes beyond screens too. Parent company Igloo last year introduced Pudgy Toys, a toy line based on the digital art collection, and has since sold more than $10 million in collectible igloos and plushies that are carried at major retailers, including Walmart, Target, Amazon and Walgreens.<\/p>\n

Pudgy Penguins is the third-largest NFT collection by market capitalization \u2014 $550 million in total \u2014 as of Thursday, data shows<\/a>, trailing only CryptoPunks and Bored Apes Yacht Club. The collection came to life in 2021, and each penguin is hand-drawn and features various distinct traits such as backgrounds, body, face, head and skin.<\/p>\n<\/div>\n

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Shaurya Malwa<\/a><\/h5>\n

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.<\/p>\n

Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM,
\nBANANA, ROME, BURGER, SPIRIT, and ORCA.<\/p>\n

He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.<\/p>\n

X icon<\/title><\/svg><\/a><\/svg><\/a><\/g><\/svg><\/a><\/p>\n<\/div>\n

\"Picture<\/a><\/p>\n<\/div>\n

Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Top NFT Brand Pudgy Penguins to Release PENGU Token Pudgy Penguins is among the most popular NFT collections, and its comic penguins have a big presence on X, YouTube and Instagram. Updated Dec 5, 2024, 3:04\u202fp.m. UTCPublished Dec 6, 2024, 2:00\u202fa.m. UTC A heavyweight from the once-hot NFT era is now getting into the cryptocurrency […]<\/p>\n","protected":false},"author":1,"featured_media":815454,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22300,35561,104640],"tags":[],"class_list":{"0":"post-815453","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-brand","8":"category-pudgy","9":"category-youtube-videos"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/815453","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=815453"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/815453\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/815454"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=815453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=815453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=815453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}