- NFT project Pudgy Penguins has announced a new token called PENGU
- PENGU will be powered by Solana and is scheduled for launch this month
- The token is meant to boost Pudgy Penguins fans’ connection to the project
A month after it announced a mobile game known as Pudgy Party, NFT project Pudgy Penguins has announced plans to launch a new token dubbed PENGU. The token will be powered by the Solana blockchain and is meant to bring NFT fans closer to the project. Scheduled to be launched this month, the token adds to Pudgy Penguins’ initiatives targeting to increase its fan base both within and without the blockchain space.
Pudgy Penguins Sit “In Millions of Households”
Announcing the plans, the web3 project said that it has grown to “become the face of crypto,” enabling it to sit “in millions of households worldwide” and cement “itself in the hearts and minds of everyday people and culture.”
Over the last 3 years, Pudgy Penguins has become the face of crypto.
Sitting in millions of households worldwide, garnering millions of followers, and amassing over 50 billion views, Pudgy Penguins has cemented itself in the hearts and minds of everyday people and culture. pic.twitter.com/Uz2I2K5di1
— Pudgy Penguins (@pudgypenguins) December 6, 2024
The project will use PENGU to unite its fans while also allowing non-NFT collectors to be part of it. According to Pudgy Penguins, the token will mark the start of “prophecy years.” PENGU will have a total supply of 88.88 billion tokens.
PENGU will have a total supply of 88,888,888,888 and will launch on Solana.
Check out our tokenomics and distribution below: pic.twitter.com/I8WFBBa3mW
— Pudgy Penguins (@pudgypenguins) December 6, 2024
The tokens will be allocated to different courses like “public good” and providing liquidity on DEXs. Current holders of Pudgy Penguins collectibles will also have some of the tokens allocated to them.
Pudgy Penguins Reach All-Time High
Pudgy Penguins’ team will keep a small percentage of the tokens, with Ethereum and Solana communities also getting some tokens.
PENGU is part of the project’s vision to grow its fan base. A year ago, it launched physical Pudgy Penguins toys in Walmart stores across the United States. The move to launch a new token coincides with the NFT collection reaching a new all-time high floor price of over $74,000.
With the NFT project growing in popularity both inside and outside the blockchain walls, PENGU will likely have a great reception when it launches.
