Token Launch on Solana: PENGU by NFT Pudgy Penguins

Solana Token Launch: NFT Pudgy Penguins’ $PENGU

Token Launch on Solana: NFT Pudgy Penguins’ $PENGU

The popular NFT brand Pudgy Penguins is striving to enter the meme coin and gaming markets. For this, it is launching the PENGU token, thereby citing potential revival.

The native $PENGU token is to be launched by 2024 end. This might be a strategic move to end the NFT brand’s struggle because of slowdown in the NFT (non-fungible token) market. The token will have a total of 88 billion tokens supply.

As per an official post on X, PENGU token will make the debut on the Solana network. The Pudgy Penguins ecosystem expects to broaden its community by giving this chance to the fans and newcomers to connect with them. Users may note that the Pudgy Penguins NFTs will not stop operating on the Ethereum blockchain network with the new launch.

Incentivizing Community Participation

A fair as well as equitable distribution of $PENGU tokens is to be ensured for maximum community participation. While 23.5% will be allocated to the holders of the project’s NFT collections, the Pudgy Penguins, Lil Pudgys and Pudgy Rods, are also included in the list. 22.02% will go to Solana and Ethereum communities, while 12.32% is designated to provide liquidity to the decentralized exchanges (DEX).

The team of Pudgy Penguins hopes individuals to make the best of this opportunity to better align with the character and join The Huddle. The Huddle is nothing but the team behind the brand’s NFT collection.

Success for Pudgy Penguins

The launch may not be a crucial moment for the Pudgy Penguins alone. It will also benefit NFTs, blockchain games as well as meme coins build better futures. It’s worth noting that despite the downturn of the NFT market, the platform has but stood tall and even managed attracting public interest.

The launch of the $PENGU tokens on Solana has several advantages:

• Solana’s rapidly growing blockchain ecosystem: Its increased adoption in the DeFi sector and scalability make it an extremely suitable choice for token creation.

• Deepen connections: The projects seeks to not just strengthen connections with the existing fanbase, but also attract new participants.

• Beyond crypto: Pudgy Penguins is an established brand that is recognized all over. Its well-positioned status will support PENGU leverage broader appeal.

NFT Marketplace Magic Eden

Magic Eden also launched its ME tokens this August to expand its crypto offerings. Taking a similar route, the tokens were launched on the Solana blockchain and facilitate cross-chain trading. Magic Eden is further in the process of integrating ME tokens with third-party protocols and dApps.