Pudgy Penguins NFT Collection Launches PENGU Token
PENGU is trading at a fully diluted value of nearly $3 billion. Subscribe to Bankless or sign in Tuesday morning, NFT project Pudgy Penguins launched its token, PENGU, on Solana. Multiple Pudgy Penguin related communities are able to go and claim their share of PENGU tokens.What’s the Scoop?Hefty FDV: The token is trading at $0.33 with a fully diluted market value just short of $3 billion, nearly double that of Yuga's APE token.Total Supply: PENGU has a total supply of 88,888,888,888 tokens. 25.9% of the PENGU supply is allocated to the Pudgy Penguins Community.Claim Period: Users who are eligible for the airdrop will have 88 days to claim their tokens before they are burned.Bankless Take:Pudgy Penguins have come a long way since their launch in 2021. They have developed one of the strongest NFT communities, came out with their toy collection, launched a sub-NFT collection that has done well, and are now launching their token that has rocketed the floor price for all Pudgy Penguin-related NFTs. If the PENGU token launch can sustain those gains and deliver value back to token holders, Pudgy Penguins could become the new standard bearer among NFT companies. Written by Kazu Umemoto 97 Articles • View all Kazu Umemoto is an analyst and has been with Bankless since October 2024. Previously worked at an accounting firm doing tech auditing. He graduated from the University of Oregon with a degree in finance and a minor in computer science.