Key Points:

• The Pudgy Penguins collection has now become the world’s second most-valued NFT set, breaking the $100,000 benchmark for the first time.
• Launched in 2021, each penguin in the collection is uniquely hand-drawn.
• Demand surged after an exclusive announcement about plans to launch a PENGU token.

The Pudgy Penguins NFT collection is effectively maintaining interest in Web3 amid many struggling NFT projects. Recently, the minimum price for any of the 8,888 unique penguin NFTs surpassed $100,000, overtaking the prior leader, the Bored Apes Yacht Club.

Currently, buying a single Pudgy Penguins NFT costs more than purchasing a Bitcoin, which is priced slightly above $100,000. The floor price has soared 76% in just a week to over 26 ETH (around $105,000).

Interest in these NFTs skyrocketed following news of the upcoming PENGU token release on the Solana blockchain, set for later this month. 23.5% of the 88 billion PENGU tokens will be allocated for holders of NFTs in the collection like Pudgy Penguins, Lil Pudgys, and Pudgy Rods.

Each penguin features distinct traits and the collection has moved beyond digital art into the realm of physical merchandise. The parent company, Igloo, has launched a toy line inspired by the digital collection, generating over $10 million in sales through retailers such as Walmart, Target, and Amazon.