Pudgy Penguins Token Goes Live on Binance
Pudgy Penguins has launched its highly anticipated PENGU token, which has sent shockwaves through the NFT market. The token's listing on Binance and associated airdrop have sparked significant interest among investors.
The PENGU token comes with a total supply of 88.88 billion tokens, with a notable allocation to the Pudgy Penguins' NFT community (25.9%) and other NFT communities like Bored Ape and Azuki (21.12%). The team behind Pudgy Penguins received a 17% allocation, subject to a one-year cliff and three-year vesting schedule.
The token's price has been trading at $0.05, leading to its substantial fully diluted valuation (FDV) of $4.4 billion. This development has also led to a surge in the floor price of Pudgy Penguins' NFTs, with prices rising past $100,000.
Pudgy Penguins has made it clear that the PENGU token will be integrated with Solana, offering rewards to NFT holders and ecosystem participants. This integration has further boosted the project's value, cementing its status as the second-most valuable profile picture (PFP) NFT project.