TLDR
Pudgy Penguins NFT venture declares PENGU token on Solana blockchain, launching December 2024
Complete token provide can be 88.88 billion PENGU
Undertaking reaches new all-time excessive flooring value of over $74,000
Token distribution consists of NFT holders, public good, DEX liquidity, and staff allocation
Follows latest enlargement together with Pudgy Social gathering cell sport and Walmart toy line
Pudgy Penguins, the favored NFT venture, introduced plans to launch a brand new token referred to as PENGU on the Solana blockchain this December. The announcement comes because the venture’s NFT flooring value reaches a brand new all-time excessive of over $74,000.
The PENGU token may have a complete provide of 88.88 billion tokens. The venture staff has outlined plans for broad distribution, together with allocations to present NFT holders, public initiatives, and offering liquidity on decentralized exchanges (DEXs).
This token launch follows the venture’s latest enlargement into cell gaming with Pudgy Social gathering, introduced simply final month. The gaming enterprise represents one among a number of strikes by the venture to develop past its NFT roots.
The venture’s attain already extends into conventional retail by means of a partnership with Walmart, the place bodily Pudgy Penguins toys are bought throughout shops in america. This retail presence, established a yr in the past, marked an early step within the venture’s broader enlargement technique.
In saying PENGU, the venture staff emphasised their objective of uniting current followers whereas opening doorways for brand spanking new individuals who might not personal their NFTs. They’ve dubbed the upcoming interval as the beginning of “prophecy years,” although particular particulars about this idea stay unclear.
Introducing $PENGU, the official coin of Pudgy Penguins.
Launching in 2024. Be taught extra under. pic.twitter.com/J715bODcM6
— Pudgy Penguins (@pudgypenguins) December 6, 2024
Present Pudgy Penguins NFT holders will obtain a portion of the token allocation, although precise distribution quantities haven’t been disclosed. The event staff plans to retain a small share of the tokens for operational functions.
Each Ethereum and Solana communities will obtain token allocations, highlighting the venture’s cross-chain strategy regardless of selecting Solana for the token launch. This resolution might assist bridge communities throughout totally different blockchain platforms.
The venture has positioned itself as “the face of crypto,” claiming presence “in thousands and thousands of households worldwide.” Whereas precise numbers aren’t independently verified, their Walmart partnership does present substantial retail publicity.
Token allocations will embrace funds for “public good” initiatives, although particular particulars about these applications haven’t been introduced. The staff plans to supply liquidity on decentralized exchanges to make sure buying and selling availability.
The timing of the token launch coincides with robust efficiency within the NFT assortment’s buying and selling costs. The ground value reaching over $74,000 represents the best degree within the venture’s historical past.
The PENGU token launch marks one other step in Pudgy Penguins’ enlargement from digital collectibles into broader functions. Their growth timeline reveals constant progress from NFTs to bodily toys, cell gaming, and now tokens.
Undertaking leaders have emphasised accessibility of their token launch plans, aiming to incorporate each cryptocurrency veterans and newcomers. This strategy aligns with their earlier strikes into mainstream retail by means of Walmart.
The cross-chain nature of the token distribution, together with each Ethereum and Solana communities, suggests an try and unite totally different blockchain consumer bases. This might create new alternatives for collaboration throughout platforms.
Technical particulars in regards to the token, together with sensible contract specs and safety measures, are nonetheless forthcoming. The staff hasn’t but introduced which decentralized exchanges will record PENGU at launch.
The December launch timeline locations the token debut throughout a interval of elevated exercise in digital asset markets. The venture’s established model recognition by means of retail presence and NFT success might affect preliminary token reception.
