The team behind Pudgy Penguins, one of the most iconic NFT collections in the Ethereum crypto ecosystem, has announced the launch of its own native token, PENGU.
The launch of the new native token PENGU, by Pudgy Penguins, is a strategic move, revealed through a series of posts on X, that seeks to strengthen the community and expand the Pudgy Penguins ecosystem beyond collectible NFTs.
Pudgy Penguins has been a pioneer in cryptocurrency culture since its launch in 2021. The collection, comprised of 8.888 unique NFTs, has gained a significant presence in the market, with millions of followers worldwide and a presence in retail stores such as Walmart.
The Pudgy Penguins team has acknowledged that with the launch of PENGU, they are taking a crucial step towards aligning their growing community with the project.
PENGU, a token to transform the Pudgy Penguins community
In a post on X, the team explained that Pudgy Penguins has become a familiar face in the crypto world, present in millions of homes and shared by hundreds of millions of people daily. Therefore, with the PENGU token, Pudgy Penguins fans and those who are not yet familiar with the crypto world will have the opportunity to join the penguins' house.The Huddle» and align with the project. This initiative seeks not only to reward the existing community, but also to attract new participants to the Pudgy Penguins ecosystem.
The launch of PENGU is not just a step towards monetization; it is a strategic move to strengthen the community and create a more robust and sustainable ecosystem. The team has highlighted that Pudgy Penguins has been a driving force behind the mass adoption of crypto assets, and the PENGU token marks the beginning of a new stage in the evolution of the project.
What will the supply, tokenomics and distribution of PENGU be like?
The token PENGU is ready to make its debut on the Solana blockchain, a blockchain platform known for its high transaction speed and low fees. With this, the developers seek to improve the accessibility and efficiency of the token, facilitating its adoption and use in the market.
With an impressive total supply of 88.888.888.888 tokens, the launch of PENGU is scheduled for late 2024, although the exact date has not yet been revealed. The team behind Pudgy Penguins has assured that all official information will be shared through their official channels, warning the community about possible fake websites and tokens trying to take advantage of the launch.
PENGU Distribution and Tokenomics
The distribution of the PENGU token has been meticulously designed to maximize community benefits and ensure the sustainability of the project. Approximately 25,9% of the total supply will go to the Pudgy Penguins community, rewarding NFT holders and the most loyal followers. In addition, 24,12% will be distributed among other communities and new participants in “The Huddle”, thus promoting expansion and inclusion in this exciting ecosystem.
To ensure a long-term commitment, 17,8% of the supply will be allocated to current and future equipment, with a one-year lock-in period and a three-year vesting schedule. This strategy ensures that the team is aligned with the success of the project in the future. In addition, 12,35% of the supply will be allocated to establishing liquidity on decentralized exchanges (DEX), facilitating the trading and use of the PENGU token in the market.
The remainder of the funding will be allocated to various funds and reserves, covering key areas such as project development, marketing and the creation of new products and services within the Pudgy Penguins ecosystem.
With this distribution, the project team seeks to strengthen its commitment to the community and lay the foundations for sustainable growth and active participation in the crypto world.
PENGU's impact on Pudgy Penguins' valuation and trading volume
The announcement of the launch of PENGU has had a significant impact on the valuation and trading volume of the Pudgy Penguins NFT collection.
According to data from NFT Price Floor, Pudgy Penguins NFT sales skyrocketed by 383% in the 24 hours following the announcement, with 290 sales recorded. The floor price of the NFT also rose by 17%, reaching 21,10 ETH (approximately $78.300).
Source: NFT Price Floor
The above data reflects the community’s excitement and interest in the launch of PENGU. The prospect of a native token has attracted new buyers and rekindled interest from existing holders, driving demand and value for Pudgy Penguins NFTs.
Pudgy Penguins has topped the daily rankings Blur, one of the leading NFT trading platforms, with 5.230 ETH (approximately $21 million USD) in trading volume, up 449% daily. In terms of weekly volume, Pudgy Penguins also takes the top spot, with 10.645 ETH traded.
Overall, the launch of PENGU has not only revitalized Pudgy Penguins’ NFT collection but also reaffirmed its position as one of the most influential projects in the cryptocurrency and NFT ecosystem.
As the launch date approaches, the community and investors will be closely monitoring the development of PENGU, hoping that this new token will further drive growth and innovation in the project.
