- Pudgy Penguins surpasses Bored Apes, becoming the second most valuable NFT collection.
- The floor price of Pudgy Penguins surged 76% in one week, reaching $105,000.
- Physical product sales and the PENGU token launch boost Pudgy Penguins’ Web3 presence.
The Pudgy Penguins NFT collection has skyrocketed in value, now becoming the world’s second most valuable NFT set, surpassing the Bored Apes Yacht Club.
This surge follows a major milestone in the NFT space as the floor price for a Pudgy Penguin crossed $100,000 for the first time. With 8,888 unique, hand-drawn penguins featuring distinctive traits.
A 76% Surge in Just One Week
The increase in value up 76% in just one week to over 26 ETH, or approximately $105,000 has positioned Pudgy Penguins as a serious player in the NFT space.
This rise comes as other top collections, such as Bored Apes and CryptoPunks, experienced declines of around 12% in the same period. Despite the volatility, the project has gained widespread recognition and continued success.
A key reason for the growing interest in the collection is the expanding reach of the Pudgy Penguins brand. The project’s parent company, Igloo, has diversified its offerings with physical toys. Which is including plushies and igloos, now available through major retailers like Walmart, Target, and Amazon.
These toys have proven to be a commercial success, with over $10 million in sales. This integration of the digital and physical worlds has helped solidify NFT as a leading brand in the Web3 space.
The Launch of the PENGU Token
Launched in 2021, announcing the upcoming release of a PENGU token on the Solana blockchain has generated considerable excitement.
According to reports, nearly a quarter of the 88 billion PENGU tokens will be distributed to NFT holders within the Pudgy Penguins ecosystem. Current owners to retain or purchase more NFTs, which has driven up demand. The token will also benefit other collections within they NFT family, including Lil Pudgys and Pudgy Rods
While the NFT market faces challenges, Pudgy Penguins sets the bar high. Keeping Web3 hopes alive and proving that digital collectibles can have real-world value.
