Fat Penguin issues coins, community predicts airdrop revenue will exceed $30,000

原创 | Odaily星球日报（ @OdailyChina )

作者 | 傅豪 ( @vincent 31515173 )

As 2025 approaches, in addition to Bitcoin successfully breaking through the 100,000 mark, the NFT sector has also ushered in the final battle of the year.

NFT blue chip project Pudgy Penguins announced that it will release its token PENGU in 2024. According to NFTgo data , Lil Pudgys floor price rose by 17.6% in 24 hours to 1.92 ETH; Pudgy Penguins floor price rose by more than 20% to 18.5%. Pudgy Penguinss token issuance has revitalized the NFT market, driving the daily transaction volume of the NFT sector up by 66%.

Odaily Planet Daily combined a series of recent initiatives of Pudgy Penguins to conduct an in-depth analysis of its upcoming coin issuance and preliminarily estimated the market value of Pudgy Penguins.

“Fat Penguin” issues coin, with a predicted market value of up to $1.5 billion

Pudgy Penguins is an NFT project featuring cute penguin images. Despite the lows such as team changes, under the leadership of new CEO Luca Netz, through a series of initiatives such as IP incubation, game development, and the launch of toys on Amazon Mall, Pudgy Penguins has successfully ranked among the top three in the NFT sector in terms of market value.

In the past bear market, Pudgy Penguins has demonstrated strong market resilience. The project has not only maintained a certain popularity in the NFT market, but also enhanced the brands commercial value through multiple IP collaborations. For example, Pudgy Penguins launched a Celebrity Gift Box in an exclusive collaboration with Walmart, and launched a limited edition Pudgy Penguin biscuit gift box with the high-end biscuit brand Last Crumb. These initiatives have effectively expanded the brands influence and made it stand out in the fiercely competitive NFT market.

Now, the much-anticipated Pudgy Penguins token launch is coming. Officials said that the PENGU token will first be issued on Solana, and plans to adopt a multi-chain strategy, which will be enabled on Ethereum and Abstract Chain in the future.

PENGU’s 代币 经济学

The total supply of PENGU tokens is 88, 888, 888, 888, and the specific token distribution is as follows:

• Team (1-year lock-up period, 3-year vesting period): 17.8%

• Expansion: 4%

• FTT holders: 0.35%

• Liquidity: 12.35%

• Public coordination: 4%

• Pudgy Community: 25.9%

• Corporate (1-year lock-up, 3-year vesting): 11.48%

• Other communities: 24.12%

Among them, the proportion of companies and teams is about 30%, while community airdrops account for the main part, about 51%. There is no lock-up period for community airdrops. NFT holders on social media generally support the token economic model and look forward to the potential value of the airdrop tokens.

According to the analysis of community user @BTCThinker 88 , the value of Pudgy Penguins PENGU token airdrop will be considerable, with each holder expected to receive US$31,000 to US$61,000 (approximately 7.9 ETH to 15.8 ETH); if Abstract Chain also provides token distribution to the penguin community, this may become one of the largest wealth creation events in 2024 after HYPE.

According to the users analysis, the market value (FDV) of the PENGU token is estimated to be between $1.5 billion and $3 billion, directly benchmarking Apecoins market value of $1.9 billion. If the total amount is calculated based on the existing NFT market value, Lil Pudgys market value is about $160 million, Pudgy Penguins market value is about $650 million, and the total market value is about $810 million. The market value of Apecoins NFT projects is about $1.2 billion. Based on the market value of NFT projects and the market value of tokens, the market value of PENGU tokens is expected to be around $1.3 billion; considering the potential increase in the initial issuance of NFT projects, the initial market value of PENGU may be around $1.5 billion.

Is issuing coins the last stop for the “Fat Penguin”?

Previously, many well-known NFT projects regarded token issuance as the last stop. The correlation between tokens and NFTs after token issuance is not high, and the role of tokens in subsequent projects is minimal. Therefore, it has been criticized by the market: token issuance is a pension that NFT projects save for the team.

For example, projects such as BAYC and MEMEland performed well in the early stages of their coin issuance, but due to the decline in narrative and market enthusiasm in the later stages, the subsequent market trends are not optimistic. The price of BAYCs APE token soared at the beginning of its launch, from 1 USDT to 28 USDT, but as the market enthusiasm waned, the price of APE also fell.

In contrast, PENGU will not necessarily face the same fate after the token issuance. The Pudgy Penguins project has a unique sense of community participation and a diversified development strategy, which enhances its long-term value through rich brand stories, game development, and cooperation with other brands. Officials said that Pudgy Toys will be available in Walmart stores again in 2025.

In addition, Pudgy Penguins has planned a series of follow-up projects, such as launching the Web3 game Pudgy Party next year and developing new IPs, which will provide a wider range of application scenarios for PENGU tokens. Through these initiatives, Pudgy Penguins may regard the issuance of tokens as a new starting point rather than an end point, further promoting the growth of the brand and the activeness of the community.

This article is sourced from the internet: Fat Penguin issues coins, community predicts airdrop revenue will exceed $30,000

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