What You Need to Know:

• The recognized NFT collection, Pudgy Penguins, plans to unveil a new token named PENGU later this year on the Solana platform.
• PENGU will have an overall supply of 88 billion tokens, with 23.5% allocated for holders of Pudgy Penguins and related NFTs.
• Despite facing a downturn in the NFT market, Pudgy Penguins maintains its cultural significance, potentially aiding its survival in an environment that has shifted towards fun tokens and memecoins.

In recent developments, Pudgy Penguins, known for their vibrant NFTs, is entering the cryptocurrency landscape with the forthcoming launch of PENGU. This collection, which features comical birds, has garnered significant attention, illustrated by over 3 million followers across platforms like Instagram and TikTok. Recently, they shared that approximately 23.5% of the tokens are earmarked for NFT holders, reflecting their commitment to the community.

"Pudgy Kindness just crossed 1M followers on TikTok. Of all the things we’ve done at Pudgy, this is definitely my favorite. We’re going to scale this 10x and change 1000s of lives in 2025. Stay tuned 🐧👀"
— Luca Netz 🐧✳️ (@LucaNetz)
Full Tweet

Their pivot comes as a response to the current landscape where fun tokens and memecoins have gained traction. The NFT journey of Pudgy Penguins began three years ago, and as they evolve, they continue to embrace their enthusiastic community.