Parent company Igloo, the masterminds behind the popular NFT collection Pudgy Penguins, has revealed plans to launch PENGU token in 2024
The token, set to debut in 2024 on the Solana blockchain, will have a total supply of 88,888,888,888 tokens. Interestingly, 25.9% of the tokens will be distributed to the Pudgy community, including NFT holders, while 24.12% will be allocated to “other communities.”
In an official statement posted on X, Pudgy Penguins expressed their excitement about the upcoming token release, stating, “With PENGU, the millions of Pudgy Penguin fans and the hundreds of millions of people outside of crypto that see and share the Pudgy Penguin every day finally have the opportunity to align themselves with the character.”
The introduction of the PENGU token is part of Pudgy Penguins’ broader strategy to expand its ecosystem, which already includes two NFT collections, various game projects in development, and physical merchandise available at major retailers like Walmart and Target.
The brand has also gained significant traction on social media, amassing a following of 3 million users who resonate with its positive values and messaging.