What is Pudgy Penguins and $PENGU?

Pudgy Penguins is an Ethereum NFT collection turned toy company turned global brand that has transcended the blockchain. Their merch can be found in retail stores around the world and Pudgy Penguin GIFs have become a fixture in social media pop culture.

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The $PENGU token launch is long awaited, here's everything you need to know.

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What is Pudgy Penguins?

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Pudgy Penguins is an 8,888 piece NFT collection that launched on the Ethereum in July 2021. Each Pudgy was generated from 150+ hand drawn traits that resulted in unique characters with distinct personalities. It quickly became one of the most sought after JPEGs on the blockchain.

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Upon release they sold out within 19 minutes.

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The project came upon fire in early 2022 when allegations surfaced that project funds had been mismanaged. Ownership of the brand transferred hands during the tumultuous time and changed the fate of Pudgy Penguins forever.

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Despite the turmoil, an early supporter Luca Netz, purchased Pudgy Penguins and set out on a mission to turn the now iconic characters into a household name. Since then they have become the premier NFT collection and are primed to be the face of crypto.

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Pudgy Penguins has been picked up by retailers around the globe (such as Walmart) and served as one of the first blockchain brands to gain real world notability.

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How did Pudgy Penguins go viral?

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Viral popularity of Pudgy Penguins is in no small way be attributed to their aggressive takeover of the GIF market and short form video markets.

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Many social media platforms support GIF formats in content and comments. These interactions are awarded a significant boost in distribution. The GIFs are sourced from just a few aggregators such as GIPHY and Tenor. The Pudgy Penguins team strategically placed their resources into using those GIF platforms to distribute their brand to a global audience.

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TikTok and Instagram have served as hotbeds for growth. Millions of views are generated each week as users post Pudgy Penguins GIFs organically. It is not uncommon to be perusing your social media feed and see a Pudgy Penguin int he comment section.

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In just over three years the Pudgy Penguins IP has amassed over 50 billion views.

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What is $PENGU?

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PENGU, the official cryptocurrency of the Pudgy Penguins ecosystem, is launching on the Solana blockchain. The name Pengu comes from a warm nickname that penguins have picked up.

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Although PENGU will initially launch on the Solana, the team plans to eventually expand to Ethereum and Abstract.

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• Ticker: PENGU

• Circulating Supply: 62,000,000,000

• Total Supply: 88,888,888,888

• Contract Address: 2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv

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PENGU launches on December 17th, users will have 88 days to complete their claim.

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Who will get the $PENGU airdrop?

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The 88 billion PENGU tokens will be distributed to the Pudgy community, team, investors and funds used to support the market. A majority of the PENGU allocation is reserved for the Pudgy Penguins community (holders of the NFTs). An equally significant portion is earmarked for other crypto communities.

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A lions share of PENGU goes to team members and the liquidity pools which will sustain active trading of the token.

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Remaining PENGU is reserved for the Pudgy Penguins parent company, Igloo Inc, with a three year vesting period.

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• 25%: Pudgy Community

• 24%: Other Communities

• 17%: Pudgy Penguins Team 

• 12%: Liquidity Pools 

• 11%: Company 

• 4%: Public Good

• 4%: Proliferation

• 0.35%: FTT Holders

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