Pudgy Penguins, the most famous Non-Fungible Token (NFT) collection on the Ethereum platform, is developing its ecosystem by preparing to launch the official Token named PENGU.
Pudgy Penguins Token will finally be launched on Solana
Pudgy Penguins, the third largest NFT collection by market capitalization, will launch a new Token named PENGU on the Solana blockchain at the end of 2024.
The Token distribution will include portions for Non-Fungible Token (NFT) owners and liquidity support on decentralized exchanges, in order to leverage the brand's strong presence in the market.
Although the details of the PENGU Token launch and utilities have not been disclosed, this move is in line with the increasing trend of entertainment Tokens and memecoins, which attract attention due to their liquidity, low cost, and strong viral potential.
Pudgy Penguins maintains the market's relevance with a strong community
Pudgy Penguins has become one of the few Non-Fungible Token (NFT) collections that has maintained its prominence since the decline of the NFT market after the strong growth from 2021-2022.
First, the project has gone beyond digital assets: one of the notable projects is Igloo, which provides Pudgy toys.
These toys, along with igloos and plush animals, have generated $10 million in revenue in less than a year since distribution began at major retailers like Walmart, Target, and Amazon.
Over the past three years, Pudgy Penguins has built a strong community, with over 1.5 million plush toys sold in more than 10,000 global stores, generating over 50 billion impressions on social media.
This diversification strategy will help the project become a prominent player in the constant changes in the crypto and Non-Fungible Token (NFT) markets, where PENGU will continue to expand its influence.
