Let’s kick things off with a little quiz! Do penguins live at the North or South Pole? Of course, you could quickly Google it and find the answer in a jiffy, or you could read our article about the world-famous penguins (no, not Mr. Popper’s Penguins). The most expensive one of them sold for a whopping 400 ETH! Stick around and discover something brand new about this groundbreaking Pudgy Penguins NFT. The answer to the question awaits you in the text! So, are you ready to get started?
Read more: NFTs Aren’t Dead: A Look at the Future of Digital Collectibles
What Are Pudgy Penguins NFTs?
They’ve got a total of 8,888 of them, but each one is a unique gem. The collection features 150 hand-drawn, one-of-a-kind character rarity and traits that show up in one form or another in each of the NFTs. Every penguin boasts 4-5 character traits, from background color to attire and accessories, symbolizing values like love, happiness, compassion, and empathy. Some have a white collar, some a gray one, some stand on a green background, others on a blue one, some wear hats, and others don monocles or ski goggles. You’re sure to find a penguin that tickles your fancy, maybe even one that in some way resembles yourself.
The Pudgy Penguins community (they affectionately call each other Huddles) has rallied around this symbolism, and upheld the project’s motto of “spreading good vibes in the meta.” Only 2.8% of the digital collectibles have just 4 features (can you guess which ones are the most valuable?), while the remaining 97.2% have five components.
Explaining NFT technology in Brief
Still not getting the hype around internet pictures selling for millions of dollars? Well, let us break it down for you and explain why it’s not cool to right-click on an image and shamelessly save it to your phone or computer. It’s like printing out the Mona Lisa, putting it in a fancy frame in your living room, and thinking folks will believe you’re a great art enthusiast or a wealthy collector.
Do you see how absurd it is? The same goes for NFTs. Only those who can provide ownership and provenance proof in the form of a transaction for the purchase of that unique NFT image, video, and so on, have the right to brag. NFT (Non-Fungible Token) – one of a kind, unparalleled, the only one of its kind in the world. There’s no other like it, and all of this is recorded and open for everyone to see in the vast blockchain universe. Those famous Pudgy Penguins, which we’ll talk a lot about below, use NFT technology.
Rebellion, Support, and Community Privileges
Everyone’s heard of the blockchain project management structure called DAO (decentralized autonomous organization), where power belongs to the community, and they’re supposedly pulling the strings when it comes to the project’s development. It all sounds great in theory, but you might be wondering, “Where are the real-world examples?” Well, Pudgy Penguins is the highly anticipated real thing.
Pudgy Penguins NFT was launched in 2021 by X user ColeReum. After community protests against the creator for the failure to deliver on promised developments and accusations of misappropriating funds, the penguins were acquired by Lucas Schneltzer (better known as Luca Netz) in 2022 for 750 ETH (equivalent to $2.5 million).
Now the team is making the colorful history of the project. Schneltzer and his crew have crafted a growth strategy, one that’s based on leveraging the intellectual property (IP) of Pudgy Penguins beyond the NFT ecosystem, all with the aim of taking their brand on a ride far beyond the boundaries of blockchain technology.
What Does It Mean to be in the Penguins club?
As a proud Huddler, you get to enjoy some cool perks, like joining the Pudgy Penguins community and even using your NFT Pudgy Penguins and their artsy pals for commercial purposes. For example, to promote your own products and services.
How does it work, you ask? Well, you strike a deal with the team to get your hands on those NFTs and unlock the brand’s intellectual property, all to harness Pudgy’s commercial charm. But get ready, dear Huddlers, because if your enterprise rakes in a cool $500,000 in moolah from this, they’ll come a-knocking to revisit your contract for terms that are juicier on their side.
How to Buy Pudgy Penguins NFTs
I know you’re already fired up about this project and are eager to dish out a few of your hard-earned ETH for a cute penguin face. Here’s how you can do it:
- Get a crypto wallet that supports Ethereum
MetaMask is a popular option, but there are many others available. Make sure your wallet is set up and funded with enough ETH to cover the cost of the Pudgy Penguin NFT you want to buy, plus gas fees.
- Connect your wallet to an NFT marketplace
OpenSea and Blur are the two most popular Pudgy Penguins Marketplaces for purchasing NFTs. Once you’ve connected your wallet, you can browse the available listings and find a Pudgy Penguin NFT that you want to buy.
Read Our Reviews:
- OpenSea Review 2023 – Full Overview of OpenSea NFT Marketplace
- Blur NFT 2023 – Full overview of Blur NFT Marketplace
- Place a bid or buy now
If you’re interested in a particular Pudgy Penguin NFT, you can place a bid on it. If the seller accepts your bid, you’ll own the NFT. You can also choose to buy the NFT now if it’s listed for sale at a fixed price.
- Confirm the transaction
Once you’ve placed a bid or bought the NFT, you’ll need to confirm the transaction in your wallet. This will involve paying gas fees, which are the fees paid to miners for processing transactions on the Ethereum blockchain.
- Receive your Pudgy Penguin NFT
Once the transaction is confirmed, the Pudgy Penguin NFT will be transferred to your wallet. Congratulations! You now own a Pudgy Penguin NFT!
The Adorable Animal Project
In the “State of The Huddle” from 2022, right after Luca Netz snatched up the project, he laid out some clear narratives about the mission and vision. In a nutshell:
The vision of the project is to transform Pudgy Penguins into a globally recognized brand. The team aims to create a positive impact on people’s lives by leveraging the unique and inclusive nature of the Pudgy Penguins’ intellectual property (IP).
The mission involves building a solid foundation, fostering inclusivity, and bridging the gap between Web 2.0 and Web 3.0 through storytelling, user-friendly NFTs, and community engagement.
Artistic Creators Behind Pudgy Penguins
Antoine Mingo, the artist behind Pudgy Penguins. His entry into the NFT world came through a $150 gig for a project he found interesting. Initially unfamiliar with NFTs, he adapted his realistic art style to create a series of simple penguins, guided by Pudgy Penguins founder Cole Thereum. Mingo designed various traits, including hats, clothes, glasses, and color schemes, contributing to the creation of the first batch of Pudgy Penguin NFTs. Looking ahead, Mingo plans to move to Miami, following the buzz around crypto art and the continued success of Pudgy Penguins.
Collaborations and Partnerships
Here’s the proof that these penguin folks aren’t just flapping their beaks about expanding their IP horizons. In just over a year, they’ve managed to team up with some big names from various industries, including:
- The partnership with WME is aimed at helping the Pudgy Penguins IP expand into new areas, such as film, television, and music.
- Collaboration with Walmart to release a line of physical toys based on the Pudgy Penguins characters. The toys were sold exclusively at Walmart stores and online.
- Pudgy Penguins partnered with Retail Monster to create a line of Pudgy Penguins-themed clothing and accessories.
- Jack Butcher, digital artist and entrepreneur, united with Pudgy Penguins to create a new NFT collection called “Opepen Edition.” The collection features 16,000 unique NFTs that are inspired by both the Pudgy Penguins and Opepen Edition collections.
- Penguins cooperate with PMI, a global toy company, to create a line of Pudgy Penguins-themed physical toys. The toys are available to purchase at PMI retailers, on Amazon, and online.
What to Expect in the Future?
The future of Pudgy Penguins is so bright and cloudless, they might just become the dazzling gem among IP companies in the Web3 universe. Their epic roadmap involves environmental initiatives, sprucing up the brand through some good old-fashioned community bonding, working on digital content and physical products, and future developments in the IP direction.
Thanks to a well-crafted promotion strategy, Pudgy Penguins price trends keep holding their heads high, no matter how much the market rollercoasters. The floor price at the time of writing is a solid 5.13 ETH.
It seems like we’ve spilled the beans on all the big dreams, schemes, and achievements of the project. It’s not your run-of-the-mill picture project; but really an idea that unites the world of blockchain, cryptocurrencies, and NFTs with physical reality. Actually, this is what Luca Netz says:
“With everything going on [in the NFT and crypto space], we need to make NFTs and crypto a little bit more approachable.”
We’re definitely giving these folks a thumbs up, and we’re absolutely not against receiving a cuddly penguin at our editorial office, let’s say, for Christmas.
Two final words?
South Pole.
More Info:
- The Top 10 Funniest NFT Memes in 2023
- Maximizing Returns and Minimizing Risks: NFT Lending
- How Can NFTs Be Used in DeFi?
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.
