Pudgy Penguins NFT Collection Announces PENGU Token: Launching This Year

Pudgy Penguins, a top 3 NFT collection by market cap, announced yesterday (December 5) that it’s launching a token called PENGU on Solana. The announcement post on X stated that the token will drop before the end of 2024.

The announcement timing was perfect as the floor price for the Pudgy Penguins’ NFT collection hit a new all-time high of 19.2 ETH ($74,500). Pudgy Penguins now sit third, only behind CryptoPunks in first (43.9 ETH floor) and Bored Ape Yacht Club (BAYC) in second (20.2 ETH floor).

(COINGECKO)

Tokenomics Looks Good With Over A Quarter Of The PENGU Supply Going To The Community

According to the announcement, the token supply of PENGU will be 88,888,888,888, with 25.9% being allocated to existing holders of the various Pudgy NFTs. This includes owners of Pudgy Penguins, Lil Pudgys, and Pudgy Rods.

The full tokenomics for PENGU are as follows: 25.9% for the Pudgy community, 24.12% for other communities, 17.8% for the team (1y cliff, 3yr vest), 12.35% for liquidity on DEXs, 11.48% for the company (1yr cliff, 3yr vest), 4% for public good, 4% for proliferation, and 0.35% for FTT holders.

With just over 50% of the supply going to Pudgy holders and other various communities, many will hope for an incredible launch akin to the recent HYPE airdrop and token generation event (TGE). Hyperliquid launched its native token just over a week ago, airdropping over 30% of the supply to early users of its platform.

The launch has been heralded as a huge success due to the community-focused tokenomics that the Hyperliquid team implemented. With Hyperliquid showcasing how an airdrop and TGE should be carried out, PENGU could be set to follow in the footsteps of HYPE.

(Pudgy Penguins On X)

History And Success Of The Pudgy Penguin Collection

Pudgy Penguins launched during the peak of the previous bull run in July 2021. It is a collection of 8,888 NFTs, with the ‘8’ representing the shape of the Pudgy Penguins.

The following year, during the market downturn, Luca Netz purchased the brand. He quickly expanded from a struggling NFT collection into a prominent crypto-native brand. Netz set his sights on the brand having a Web2 and physical presence while maintaining its crypto base.

He followed through on the vision, and the Pudgy Penguins expanded beyond digital assets. The brand has generated over $10 million in physical toy sales through major retailers, including distribution deals with Walmart, Target, and Walgreens.

🐧 Pudgy Penguins announce their PENGU token!

The top NFT project that’s changing the game:

• 50B+ views across socials

• 1.5M toys sold through Walmart & Target

• Millions of fans worldwide

• The most influential community in crypto

We’re bullish on their ecosystem and… https://t.co/OdEQFkktQH pic.twitter.com/JL3MpW70iB

— PROCENT (@procent_crypto) December 6, 2024

Blue-Chip NFTs Like Pudgy Penguins Have Been Heating Up For A While Now

While many have been calling the NFT sector dead (which is true for many collections), blue-chip projects such as Pudgy Penguins have been performing well.

According to Coingecko, the collection’s floor price has increased by over 128% in the past 12 months. Following the PENGU announcement, it has increased by more than 21% in the past 24 hours alone.

The increase coincides with Bitcoin’s breakthrough above $100,000 and reflects broader market momentum affecting established NFT collections.

Due to its ventures into physical and Web2 marketplaces, Pudgy Penguins has maintained a strong presence despite the overall NFT market volatility. Pudgy’s market cap is around $660 million and is quickly catching up to second-place BAYC, which is at $780 million.

BONUS: Flockerz (FLOCK) Is The First Vote-To-Earn Meme Coin And Just Blew Past $4.5 Million In Presale Funding

Flockerz is gearing up to be one of this year’s biggest meme coin presales. FLOCK has raised close to $5 million within a few months in early-stage investment. The core of the Flockerz ecosystem is Flocktopia, a community-driven DAO.

It works as a digital town hall where every FLOCK holder has a say and can earn rewards for active participation in decision-making. Through its Vote-to-Earn system, holders of FLOCK can have their say on everything from marketing strategies to token burns.

💙 The Flock Can’t Stop! 💙

We just blew by 4.5M and the party is going to keep on going over here in Flocktopia!

Feeling a little FOMO? Get in on the presale here: https://t.co/oUsAHZxgAT pic.twitter.com/DidEoRMDc3

— Flockerz (@FlockerzToken) December 5, 2024

For example, if the team considers paying for an exchange listing, token holders can vote, earning extra FLOCK tokens for their participation while having input into the project’s future.

Flockerz has an in-built staking protocol for its presale, with over 530% APY on offer for investors who choose to stake their bag while the presale runs on.

Additionally, Flockerz has been audited by Coinsult and SolidProof, both of which have confirmed zero errors in the smart contract code, ensuring peace of mind for investors.

Join the Flockerz community on X and Telegram for new updates and developments.

Visit the Flockerz presale website

EXPLORE: Worldcoin Pumped +10% Overnight: But Are Alameda Wallets Movements About to Crash WLD Price?

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