In previous blog articles, we’ve covered the basics around cryptocurrency, a broad view of NFTs, and how to generate your own NFT collection.
👀 In this article, we’ll take a closer look at the Pudgy Penguins NFT collection, and provide information on what it is and how it works. Here is our brief guide to gain further understanding.
❓ WHAT IS PUDGY PENGUINS?
👉The Pudgy Penguins NFT collection is a profile picture (PFP) project featuring 8,888 hand-drawn and cartoon-illustrated penguins from the arctic region of the metaverse. The penguins are depicted as cute, little, chubby and pudgy adding to their charm and appeal.
❓ HOW DOES PUDGY PENGUINS WORK?
Within the Pudgy Penguins NFT collection of 8,888 avatars, there are a total of 6 trait categories and 175 randomized traits that determine the appearance of each Penguin covering features such as face, head, body, skin and background. As with other collections, NFTs with rarer traits are deemed more valuable.
📜 PUDGY PENGUINS HISTORY & THE TEAM BEHIND THE COLLECTION 👥
Pudgy Penguins’ history is short but turbulent. The collection was created and launched in July 2021 by co-founders Cole Villemain, Clayton Patterson and pseudonym identities “MickyJ” and “Jonah”. However, shortly after the launch it became apparent to the enthusiastic Penguin community that attempts were made by the project’s founders to sell and abandon the project in an apparent “rug pull”.
This led to a community-driven appeal to save the collection and move ahead with its original plans to foster and grow both the collection and the community. In April 2022, Los Angeles-based entrepreneur, Luca Schnetzler (or “Luca Netz”), stepped in with a new consortium and negotiated a purchase of the whole project for 750 ETH (or USD$2.5 million).
At its inception, the Pudgy Penguins NFT collection was launched and minted on July 23, 2021 at an initial mint price of 0.03 ETH (which was approximately USD$90 at that time).
At the time of writing, Pudgy Penguins has achieved USD$246 million in sales volume.
🐧 PUDGY PENGUINS’ NFT UTILITY
🧾The collection’s creators offer Penguins NFT owners IP rights via a limited non-exclusive license, allowing them to copy, access and use the digital artwork in their NFT. This can be used for commercial purposes, however, they don’t have the power to grant a sub-license.
The primary purpose of Pudgy Penguins is to bring joy to everyone experiencing modern-day challenges. This ensures that the brand can provide a significant impact through its own ways and establish its position with a focus on inclusivity and art as well as other opportunities.The collection’s community plans to carry on winning for the good of web3.
The penguins’ hand-drawn designs, although simple, are deeply rooted in positivity. The Pudgy Penguins community, or “Pengu Nation”, and the established project team strive to enact the original vision by joining “the huddle” and forming “huddles”, or meet-ups and get-togethers, with big smiles on their faces (just like real penguins🐧 do).
The NFT collection connects to the real world via its own merch shop where the Pengu Nation community can purchase branded custom items, prints, clothing, Pudgy Toys (via a partnership with PMI Toys where cuddly Pudgy Penguin toys are licensed to NFT holders) and more.
penguPins are soulbound tokens that serve as an NFT holder’s unique identity within the Pengu community and serves to identify a holder's digital impact and involvement in the Pudgy Penguins ecosystem.
🐧 LIL PUDGYS
Expanding on the Pudgy Penguins ecosystem, Lil Pudgys are a spin-off second-tier collection from the original. Comprising 22,222 randomly generated Lil Pudgy NFTs, the first 8,888 were reserved and free to claim with each original Pudgy Penguin as a companion. The remaining 13,334 were distributed via a public sale.
These small chicks appearing as baby versions of the original collection were created to help battle the evil bears of negativity. They have nine different trait categories with 400 different traits and all of them have a unique fashion sense.
👉 EARNING NFTs WITH BLOOM
📲.The Bloom shopper rewards app allows you to earn NFTs and other crypto (like Bitcoin, Ethereum and a range of other altcoins) with every purchase made on your Visa card💳.
🦉 All you need to do is download the Bloom app, register an account, link your Visa card and shop anywhere using your credit or debit card.
💰 With every purchase, you will earn Bloom Coins by simply using your Visa card💳. The more you use your card, the more Bloom Coins you will earn.
🎁 Bloom Coins earned can be redeemed for rewards within the app, such as NFTs.
🆓 Converting crypto on Bloom is free of charge and has no gas fees!
💎 Earn exclusive 3x Bloom Coin rewards with a Premium Membership.
The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Bloom does not recommend that any cryptocurrency or NFTs should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.