December 6, 2024
The Pudgy Penguins token, initially built on Ethereum (ETH), will be transferred to Solana (SOL) to leverage the scalability and low transaction costs of the blockchain. The token is scheduled for release by the end of 2024, with a total supply of 88,888,888,888 tokens. Distribution Details The token distribution includes 25.9% allocated to the Pudgy Penguins community, 24.12% to other communities, 29.28% to the team and company, and 12.35% designated for liquidity support. The remaining portion will be used for promotions, public projects, and rewards for FTT holders. Although the full details regarding the token launch and its utility remain undisclosed, this move aligns with the rising popularity of fun tokens and meme coins, which are gaining traction due to their liquidity, affordability, and viral potential. Maintaining A Market Presence Since the NFT market downturn after the 2021 to 2022 bull run, Pudgy Penguins has remained one of the few NFT collections still relevant. The project has expanded beyond digital assets, with its notable venture into physical products like Igloo, which sells Pudgy Toys. These toys, igloos, and plush collectibles have generated $10 million in less than a year since their launch in major retailers, including Walmart, Target, and Amazon. In the past three years, Pudgy Penguins has cultivated a robust community, selling over 1.5 million stuffed animals across more than 10,000 supermarkets globally and generating more than 50 billion social media impressions. This strategic diversification positions the project to remain a key player in the evolving crypto and NFT spaces, with the PENGU token furthering its influence.
