Fat Penguin’s token issuance drives NFT’s recovery. How can PENGU, Abstract, and OpenSea eat three of them?

Author: Wenser, Odaily Planet Daily

At around 8 o'clock this morning, according to researcher Waleswoosh, the Pudgy Penguins project token PENGU may be launched within 48 hours; at the same time, as the token issuance approaches, the floor price of Pudgy Penguins NFT has also been rising. , as of the time of writing, it is temporarily quoted at 33.7 ETH, worth nearly 140,000 US dollars, which is only 10,000 US dollars different from the floor price of CryptoPunks. At the same time, Abstract Chain, the L2 network of Igloo, the parent company of Pudgy Penguins, has also officially announced that it will be launched on the mainnet in January next year, and there are also market expectations for a separate currency issuance; OpenSea has also been exposed to the news that the Cayman Islands has registered the OpenSea Foundation. .

Therefore, with the Fat Penguin issuing coins, whether the three projects of PENGU, Abstract, and OpenSea can achieve "one fish and three meals" has become the focus of the market. Odaily Planet Daily will sort out and summarize the latest developments in related projects in this article for readers’ reference.

Fat Penguin issuance of coins: It may become the engine of NFT market

recovery

As this year is regarded as the "last dance of blue-chip NFT currency issuance", Fat Penguin still played a combination of punches as usual. We have previously discussed in "Acquiring Frame, creating abstract chains, and subverting Base. Can Fat Penguin carry the banner of the consumer economy?" "In the article, Fat Penguin's business landscape was systematically sorted out. When it came to the token issuance process, Fat Penguin's ideas also contained profound meanings:

PENGU: Fat Penguin’s first stop for issuing coins

Turning the time back to December 6, Pudgy Penguins officially issued a document stating that it would launch the PENGU token in 2024. The total supply of tokens was 88, 888, 888, 888, and it would be launched on Solana . According to the official pictures, the Pudgy community will own 25.9% of the tokens, and other communities will receive 24.12% of the tokens.

We also made a preemptive prediction of the market value of the PENGU token expected by the market at that time in the article ""Fat Penguin" issued currency, and the community predicted that the airdrop revenue would exceed 30,000 US dollars." At that time, affected by the expectation of currency issuance, the floor price of Pudgy Penguins NFT rose by as much as 16% during the day, but the floor price was only 17.75 ETH, which is about 50% of the current price.

PENGU token economics related information

Subsequently, Igloo, the parent company of Pudgy Penguins, issued a statement stating that PENGU plans to use multi-chain release and will also be enabled on Ethereum and Abstract Chain . Luca Netz, CEO of Pudgy Penguins, later issued a message saying that in order to give the Pudgy Penguins community a clearer understanding of the PENGU token situation, he reminded that there is no snapshot of the PENGU token. Tokens will be allocated to relevant NFTs once they are listed, and there are 88 days to apply for tokens. Affected by this news, Pudgy Penguins NFT has continued to rise .

On December 8, the floor price of Pudgy Penguins officially surpassed the former "NFT synonym" BAYC.

On the other side, another piece of the puzzle of Fat Penguin 's "business empire" also came to the center of the stage.

Abstract: L2 chain that issues coins separately

On December 15, according to official news, Abstract Chain, the L2 network of Igloo, the parent company of Pudgy Penguins, announced that it will launch the main network in January next year. The project was formerly known as Frame, an economic platform for creators on the chain. It had previously planned to develop a system that can be created without permission. NFT market related infrastructure, at that time it also had airdrop expectations for the launch of FRAME tokens. After the completion of the acquisition by Fat Penguin’s parent company, Abstract is not only an L 2 network designed for on-chain culture and community, but also a project with PENGU and network native token airdrop expectations .

As Luca Netz said in reply to the community: " All Elite roles on Abstract Discord will be allocated PENGU tokens." For the current airdrop interaction operation of Abstract, you can refer to "Fat Penguin Sends Coins and Brings Fire Abstract", and teaches you how to ambush "Penguin" "Chain" article, which includes tasks such as testnet, early bird badges, Discord community roles, etc.

OpenSea: the platform power that helps Fat Penguin

On December 13, OpenSea, the "big brother of the NFT market", also added fuel to the fire of Fat Penguins' coin issuance, changing the official account avatar of the X platform to Pudgy Penguins NFT related pictures. With the meme-like communication effect, crypto players, including many NFT users, have raised their expectations for the wealth creation effect of PENGU tokens to a higher level. (Odaily Planet Daily Note: OpenSea has officially changed the avatar back to its original state)

OpenSea official avatar change

Combined with the previous revelation by Mike Dudas, founder of 6th Man Ventures and former founder of The Block, "OpenSea is suspected to have registered the OpenSea Foundation in the Cayman Islands on August 20 this year" and the news that the latest version of OpenSea may be launched this month. Look, OpenSea’s token airdrop may also be on the way.

In addition, according to the Dune data panel issued by Sealaunch, a well-known on-chain data monitoring organization, OpenSea's promotion of token launch may be related to factors such as the number of user transaction operations. The OpenSea user rankings in the Dune data panel may be used as a reference for airdrop expectations.

OpenSea user ranking query interface, for reference only

Summary: Fat Penguin’s coin issuance drives the NFT market to recover,

and the wealth creation effect needs to be verified

As the launch of PENGU approaches, the NFT market is also recovering for the first time in a long time: according to data earlier today, the total market value of the leading NFT series on the entire network has risen to over 10 billion US dollars, currently touching 10, 450, 232, 468 US dollars. , an increase of 10.2% in 24 hours; the transaction volume of the NFT series across the network in the past 24 hours reached 71,146,166 US dollars, an increase of 87.5%.

In addition, since the snapshot time and airdrop conditions are still unclear, in addition to the rising floor price of Pudgy Penguin s in recent days, its historical high transaction price has also seen a wave of whales take action: Pudgy Penguin #8441, which ranks 14th in rarity, sold for 100.5025 The transaction was executed at the price of ETH; Pudgy Penguin #2447 was executed at the price of 150 W ETH.

As for whether many NFT users and Pudgy Penguins holders can realize the dream of "one fish and three meals", at present, they still place their hope on the online performance of the Pudgy Penguins project token PENGU. It is no exaggeration to say that at the current moment of this cycle, Fat Penguin has become the "hope of the whole village" leading the NFT track on a new path -when PENGU rises, NFT will prosper; when PENGU falls, NFT will have a winter. Will continue.