Pudgy Penguins take from the website

Pudgy Penguins (PENGU) is a collection of NFTs featuring adorable and charming penguin characters that have captured the hearts of NFT enthusiasts worldwide. Its unique designs, strong community, and promising investment potential have made Pudgy Penguins one of the most successful NFT projects.

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.

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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.

The token is expected to offer various benefits, including community governance, member rewards, and overall project growth support. The launch of PENGU marks a new phase for Pudgy Penguins, evolving from a mere NFT collection to a significant player in the crypto and NFT space with the potential to continue attracting global attention.

PENGU Token Functions

  • Governance: PENGU token holders have voting rights in crucial decisions regarding the Pudgy Penguins project. They can participate in votes to determine the project's future direction.
  • Exclusive Access: PENGU token owners gain exclusive access to various content, events, and merchandise unavailable to the public.
  • Rewards and Incentives: PENGU tokens can be used to earn rewards and incentives, such as exclusive NFTs or limited-edition merchandise.
  • Medium of Exchange: PENGU can be used as a payment tool within the Pudgy Penguins ecosystem, such as purchasing merchandise or participating in specific events.

PENGU Tokenomics

The total supply of PENGU is 88,888,888,888 tokens, minted on the Solana blockchain during the Token Generation Event (TGE). The token distribution is designed to ensure ecosystem sustainability and engage various stakeholders.

  • Community Allocation (25.9%): Reserved for Pudgy Penguins community members, including holders of Pudgy Penguins, Lil Pudgy, and other assets like PenguPins and Pudgy Rods.
  • External Community (24.12%): Aimed at expanding the fan base to five million new members.
  • Liquidity Provision (12.35%): Allocated to create liquidity pairs on decentralized exchanges, ensuring active markets post-launch.
  • Team Allocation (17.8%): Reserved for the team with a 1-year cliff and a 3-year vesting period.
  • Corporate Development (11.48%): To support project development and marketing.
  • Social Responsibility (4%): Dedicated to social activities.
  • Strategic Partners (0.35%): Allocated to FTT holders as a gesture of appreciation.

Additionally, CEO Luca Netz announced that about 25% of the total PENGU supply would be airdropped to the Solana ecosystem, providing active Solana dApp users with tokens even if they do not own Pudgy Penguins assets.

This distribution strategy reflects a long-term plan to strengthen the Pudgy Penguins ecosystem and support the growth of an inclusive and sustainable community.

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The Future of Pudgy Penguins and PENGU Token

Pudgy Penguins has ambitious plans for the future. The development team continues to innovate and introduce new features to enhance user experience. With the PENGU token, the Pudgy Penguins ecosystem is expected to grow stronger and more sustainable.

Potential future plans involving the PENGU token include:

  • Pudgy Penguins Metaverse Development: PENGU tokens may serve as currency within the Pudgy Penguins metaverse, allowing users to purchase virtual land, digital assets, and interact with their penguin characters.
  • Brand Partnerships: Pudgy Penguins may collaborate with renowned brands to create unique collaborative products. PENGU tokens can be used for exclusive access to these products.
  • Game Development: Pudgy Penguins may develop blockchain-based games where PENGU tokens function as in-game currency.

Pudgy Penguins and the PENGU token have demonstrated that NFTs hold immense potential for building strong communities and sustainable ecosystems. With continuous innovation and community engagement, Pudgy Penguins is expected to grow and thrive in the future.

How to Buy PENGU on Mobee

Follow these steps to purchase $PENGU through the Mobee app:

  1. Registration and Verification: Sign up and complete the account verification process (KYC).
  2. Deposit Funds: After verification, deposit funds into your Mobee wallet for easy purchases.
  3. Access the Trade Menu: Open the Trade menu at the bottom of the app.
  4. Find PENGU: Search for PENGU in the asset list or use the keyword “PENGU.”
  5. Select Trading Pair: Choose a trading pair, such as PENGU/USDC.
  6. Transaction Method: Decide on the transaction method:some text
    • Market Order: For the current market price.
    • Limit Order: For a price you set yourself.
  7. Enter Amount: Input the amount of PENGU you wish to buy and review the transaction details.
  8. Confirm: Click “Confirm” to process the purchase.

Once the transaction is successful, you can find your PENGU assets in the Wallet section.

Sources:

Beginner's Guide to Pudgy Penguins. Accessed in 2024. Trust Wallet.

Introducing PENGU: The Pudgy Penguins Token. Accessed in 2024. CoinGecko.

PENGU: Dive Into Pudgy Penguins’ Upcoming Token. Accessed in 2024. Bybit.

Image Credits: 

Main Image: Pudgy Penguins via X (Twitter).
Infographic: Pudgy Penguins via website.

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‍Disclaimer:
This content is intended to provide additional information to readers. Always conduct your own research before investing. Buying, selling, and investing activities in cryptocurrency assets are entirely the reader’s responsibility.