Popular NFT collection Pudgy Penguins is set to introduce its own token $PENGU in 2024.
About 25.9% of the supply is set to be distributed to the Pudgy Penguins community. The token aims to broaden the project’s ecosystem whilst strengthening its presence in both digital and physical markets.
Announced via the official X account, $PENGU will operate on the Solana blockchain.
What is $PENGU?
$PENGU is a cryptocurrency designed to integrate with the Pudgy Penguins ecosystem. The token will be issued on the Solana blockchain, with a total supply of 88,888,888,888. Token allocation includes:
- 25.9% allocated to the Pudgy Penguins community, including NFT holders.
- 24.12% for other communities and new “Huddle” members.
- 17.8% reserved for current and future team members, with a one-year cliff and three-year vesting period.
- 11.48% retained by the company under similar conditions as above
The token is aimed at supporting community growth and future initiatives whilst ensuring balanced distribution.
When is the official token launch?
Although no exact launch date has been confirmed, $PENGU is slated for release in 2024.
As Pudgy Penguins continues to expand its influence in both the physical and digital space, $PENGU is expected to play a central role in the brand’s ecosystem, underpinning its NFT collections, games, and retail ventures.
Additional details about the launch are anticipated closer to the release date.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
