Pudgy Penguins NFTs surpass Bitcoin as floor price breaks $100K

The Pudgy Penguins NFT assortment has achieved a big milestone, with its ground value surpassing the $100K mark.

The gathering reached a brand new all-time excessive of 27 ETH, which at press time is equal to $102,600, surpassing Bitcoin’s value of $101,000.

The challenge now ranks because the second-largest NFT assortment behind CryptoPunks, which maintains a ground value of 39.5 ETH ($150,000).

The Pudgy Penguins assortment, consisting of 8,888 distinctive NFTs, has been experiencing a large shopping for spree, with its value rising 194% over the previous month, in keeping with information from CoinGecko.

This spike in curiosity coincides with the staff’s announcement of the upcoming launch of its ecosystem token, $PENGU, which can be launched on the Solana blockchain.

Whereas the precise launch date has not been disclosed, the staff has confirmed that the token can be launched in 2024. With lower than 20 days left within the 12 months, the launch is anticipated quickly.

The PENGU token may have a complete provide of 88,888,888,888 tokens, marking a big cross-chain growth for Pudgy Penguins.

Whereas the NFT assortment stays based mostly on Ethereum, the choice to launch the token on Solana underscores the challenge’s dedication to leveraging multi-chain alternatives.

Based on tokenomics particulars shared on X, 25.9% of the PENGU token provide can be distributed to the Pudgy Penguins neighborhood, whereas 24.12% is allotted to different communities and new “Huddle” members.

Present and future staff members will obtain 17.8% of the provision, topic to a one-year cliff and three-year vesting interval. The corporate will retain 11.48% beneath the identical vesting circumstances.

Launched in 2021, Pudgy Penguins has established itself as a distinguished NFT assortment, extending its attain past digital belongings via retail partnerships with Walmart and Goal.