Pudgy Penguins Token PENGU Set to Launch Late 2024

Key Points:

• The Ethereum-based NFT collection Pudgy Penguins is set to release its official token, PENGU, on Solana in 2024.
• The Pudgy Penguins token will be distributed among the community, other NFT communities, the team, and liquidity support.

Pudgy Penguins, the most famous Ethereum-based NFT collection, is developing its ecosystem by preparing to launch its official token called PENGU.

Read more: Layer 2 for Pudgy Penguins Is Targeted for Development

Pudgy Penguins Token Will Finally Launch on Solana

Grounded in Ethereum, the Pudgy Penguins token will be cut on Solana to take advantage of the blockchain’s scale and low cost. As expected, the token will launch by the end of 2024, and its total supply will come to 88,888,888,888 tokens.

Token distribution is 25.9% to the community of Pudgy Penguins, 24.12% to other communities, 29.28% to the team and company, and 12.35% to liquidity support. The rest shall fund promotions, public projects, and rewards for FTT holders.

While the details of the launch and the utility of the Pudgy Penguins token are not known, the move is in line with the growing popularity of fun tokens and meme coins, which have been gaining traction due to their liquidity, affordability, and viral appeal.

Pudgy Penguins Keeps Market Relevance with Strong Community

Pudgy Penguins became one of the few NFT collections that have remained relevant since the NFT market crash following the 2021–2022 bull run.

First and foremost, the project has moved on beyond digital assets: most notable among its projects in that realm is Igloo, which offers Pudgy Toys. Such toys, igloos, and stuffed collectables made $10 million in less than a year since distribution started in major retailers, including Walmart, Target, and Amazon.

Within the last three years, Pudgy Penguins has built a very robust community, with over 1.5 million stuffed animals sold in more than 10,000 global supermarkets, garnering over 50 billion social media impressions. Such strategic diversification will make the project a prominent player in the ever-changing crypto and NFT landscapes, where PENGU will further its reach.