The team behind the Pudgy Penguins NFT collection has revealed plans to launch a new token, PENGU, on the Solana blockchain before the year ends.
In a recent announcement on X, the team noted that the launch of PENGU is designed to enhance its value proposition for its fanbase. They noted that they will distribute a total of 88 billion PENGU tokens to NFT holders.
The team also warned the community that counterfeit websites and tokens imitating PENGU are expected to emerge. They warned users to avoid engaging with fraudulent websites or contract addresses, as this could lead to scams. They stressed that all official updates and announcements would be communicated solely through their verified channels and advised the community to verify any information carefully.
The Pudgy Penguins NFT collection consists of 8,888 penguin avatar NFTs that are hosted on the Ethereum blockchain. It was launched on July 23, 2021, and achieved an impressive milestone by selling out in under 20 minutes. However, the collection’s journey has been marred by crises. It now experiencing a resurgence following a rejig of leadership and strategy.
READ MORE: Pudgy Penguins: How the NFT Project Became Buzzing Again
This development comes as projects in the NFT sector are experiencing a resurgence in activity. Artnames, a new initiative that transforms online usernames into unique digital art NFTs, officially launched on November 14, 2024. Built on Coinbase’s Layer 2 network, Base, the platform collaborates with six digital artists and offers over 18 million combinations of art for users to convert their usernames into digital assets that can be owned, gifted, traded, or sold in the NFT marketplace.
Similarly, The Shiba Inu team has launched the SHEboshi NFT collection, marking a bold step into the future of digital art. This collection celebrates Shiba Inu culture with innovative designs and offers unique opportunities for shared ownership and collectability. Built on the DN404/ERC-404 token standard, a hybrid of ERC-20 and ERC-721, SHEboshi NFTs introduce expanded use cases and functionalities, setting them apart from traditional NFTs.
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