The well-known Non-Fungible Token (NFT) project Pudgy Penguins has recently become a market focus. Its native token PENGU will be listed on the renowned cryptocurrency exchange Binance on 12/17 and an airdrop will be conducted simultaneously. However, the physical toys that come with the PENGU token airdrop function have been vandalized in retail stores, and the attached QR codes have been stolen, triggering strong condemnation from netizens.
Table of Contents
TogglePENGU Token to Launch on December 17, Binance Supports Trading and Airdrop
PENGU Token Details and Distribution
- Listing Date: December 17
- Trading Pairs: PENGU/USD, PENGU/BNB, PENGU/FDUSD, PENGU/TRY
- Total Token Supply: 88,888,888,888
- Distribution:
- 25.9%: Pudgy Penguins NFT community.
- 24.12%: Other renowned NFT communities (Azuki, Bored Ape, etc.).
- 17%: Pudgy Penguins team (1-year lock-up, 3-year gradual unlock).
- 12.35%: Liquidity pool.
- 11.48%: Pudgy Penguins' parent company Igloo Inc.
- 8%: Public affairs and brand development.
Market Reaction and Valuation
According to data from Whale Market, the PENGU pre-sale price reached $0.045, and the fully diluted valuation is estimated to reach a staggering $4 billion. Additionally, the Pudgy Penguins NFT floor price is close to 35 ETH, indicating strong market confidence in the Pudgy Penguins project.
Pudgy Penguin Toys Vandalized, QR Codes Stolen Triggering Community Outrage
Recently, Pudgy Penguins' physical toys have attracted a large number of speculators to retail stores due to the attached PENGU token airdrop rewards. Manynetizens have discovered that many Pudgy Penguin toy boxes have been vandalized by some "speculators", who have also taken the QR code slips used to claim the PENGU token airdrop, preventing genuine Pudgy Penguin fans and collectors from obtaining the complete product.
Many netizens have also vented their anger on social media, criticizing these "speculators" as blatant "thieves". "These Pudgy Penguin toys are for real fans, not you thieves," netizens lashed out.
Physical Toys Combined with Token Airdrop, Evaluations Polarized
Although Pudgy Penguins' founders previously stated in interviews that they would not only combine meme coins with NFTs for marketing, but also gradually expand their physical product line. This time, allowing users to claim PENGU token airdrops through QR codes when purchasing toys is indeed a successful marketing campaign that combines Web3 technology and the joy of physical collecting. However, the airdrop incentives have also triggered speculative behavior, leading to market chaos.
This also serves as a good warning for many projects. Before combining Web3 technology with physical products, they must first consider the speculative behavior and market chaos that may arise, and establish preventive mechanisms to truly maintain user experience and brand image.
Risk Warning
Cryptocurrency investment carries a high degree of risk, and its price may fluctuate dramatically. You may lose your entire principal. Please carefully evaluate the risks.
