NFT Pudgy Penguins Breaks Records In Trading Volume And Floor Price During Christmas

Key Points:

• NFT Pudgy Penguins’ lowest asking price for a penguin on OpenSea was 7.1 ETH, up 49.45% in the preceding 24 hours.

• Luca Schnetzler also mentioned that he will continue to bet on new Pudgy Penguin tangible toys and collectibles in the following year.

NFT Pudgy Penguins, a once-popular NFT collection, suddenly shattered all of the project’s previous records over Christmas this year.

NFT Pudgy Penguins hit a new historic high in ETH-denominated NFT floor prices, resulting in a surge in trading activity. At the time of publication, the lowest asking price for a penguin on OpenSea was 7.1 ETH, up 49.45% in the previous 24 hours. Furthermore, the trade volume of Pudgy Penguins is 1,200 ETH, which is nearly double that of Bored Ape Yacht Club (BAYC).

Furthermore, the collection of Lil Pudgys has recorded a 56% increase in floor price (to 0.69 ETH) and a 713% increase in trading volume (to 464 ETH) within the same period.

The above rise has surpassed the previous high of 6.11 ETH collected on December 9. The last time NFT Pudgy Penguins showed such market power was in August 2022, when the project stated it would license select NFTs to make them into actual collectibles.

After realizing that the original core development team mismanaged resources, the community overwhelmingly voted to remove the founders in January 2022, prompting the current resurrection. Without adding much value to the project, resources are wasted.

Four months later, billionaire Luca Schnetzler paid $2.5 million for the rights to Pudgy Penguins with the promise of rebranding. Since then, he has expanded the collection’s license agreements and launched several social media campaigns to bring Pudgy Penguins into the blue chip zone of the Bored Ape Yacht Clubs (BAYC) or CryptoPunks to engage with a broader mainstream audience.

With this amazing achievement on the NFT floor pricing index, Luca Schnetzler disclosed that the reason for the acceleration was that sales of Pudgy Penguin-branded goods such as t-shirts, hats, and hoodies surged.

This Christmas, many fans were drawn to NFT Pudgy Penguins’ charming picture and cozy winter. He also stated that he will continue to bet on new tangible toys and collectibles for NFT Pudgy Penguins in the coming year.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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