The market cycle from 2021 to 2022 marked a golden era for many Non-Fungible Token (NFT) projects, including PENGU. Pudgy Penguins began as a collection of adorable penguin-themed digital characters has since evolved into a multifaceted brand, expanding into physical products like toys and culminating in the launch of its token: $PENGU.
This article explores what the PENGU token is, its tokenomics, Pudgy Penguins ecosystem, and what sets PENGU apart from other memecoin.
Article Summary
- 🐧 PENGU is the official token of Pudgy Penguins, a widely recognized NFT collection within the Web3 community.
- 🪙 PENGU has a total supply of 88 billion tokens, with 50% allocated to the community, including Pudgy NFT holders, Solana users, and other NFT communities like BAYC and Azuki.
- 🧸 PENGU is more than just a memecoin, it’s backed by physical products like toys sold at Walmart and Amazon, NFTs, and the virtual world Pudgy World.
Memetic Culture: What is PENGU?
PENGU is the official token of Pudgy Penguins, launched on the Solana network in mid-December 2024. This move was part of Pudgy Penguins’ strategy to reach a broader audience, particularly the highly engaged Solana user base.
Designed as a bridge between NFT holders, fans (including those new to NFTs or crypto), and the broader Web3 community, PENGU aims to extend the brand’s appeal in a fun, inclusive, and culturally resonant way. It acts as a community-building tool, encouraging deeper, more interactive engagement with the Pudgy Penguins brand.
As of this writing, the specific utilities of PENGU have not been officially disclosed. Nevertheless, its role goes beyond that of a meme token, it serves as a key element in reinforcing the global intellectual property (IP) framework that Pudgy Penguins is building.
PENGU Tokenomics: Community at the Core
PENGU has a total supply of 88,888,888,888 tokens, distributed across several strategic allocations within the Pudgy Penguins ecosystem. Notably, 50% of the supply is allocated to the community, emphasizing Pudgy Penguins’ strong commitment to community-driven growth. The breakdown is as follows:
1. Pudgy Community (25.9%)
Holders of Pudgy Penguins, Lil Pudgy, and Pudgy Rods NFTs were eligible for a free airdrop of PENGU, with allocations ranging from 100,000 to 1.7 million tokens depending on the NFT type, equivalent to roughly IDR 65 million to over 1.1 billion at peak token value.
2. Other Communities (24.12%)
Holders of other prominent NFTs such as Bored Ape Yacht Club, Azuki, and Mocaverse also received airdrops. Even Solana ecosystem users were included, reflecting a broad and inclusive distribution strategy.
3. Pudgy Penguins Team (17.8%)
Allocated to current and future team members, these tokens are subject to a one-year cliff followed by a three-year vesting period, designed to ensure long-term commitment and gradual distribution.
4. Liquidity (12.3%)
Reserved to support trading liquidity on various platforms, enabling smoother transactions especially during periods of high market activity.
5. Company (11.48%)
Assigned to Pudgy Penguins’ parent company, Igloo Inc, under the same vesting terms as the team allocation. Combined, these two segments account for 29.28% of the total supply.
6. Public Good (4%)
Designated for socially-driven campaign initiatives.
7. Proliferation (4%)
Reserved for marketing efforts aimed at expanding the Pudgy Penguins brand.
8. FTT Token Holders (0.35%)
A small portion was airdropped to holders of the FTT token, broadening the reach even further.
The History and Expansion of PENGU
Long before the creation of PENGU, Pudgy Penguins began simply as an NFT project. Over time, however, it steadily evolved. What started as a digital collectible has grown into one of the most recognized Web3 brands, blending internet culture with digital ownership. Here’s a look at the journey of Pudgy Penguins, from its initial launch to becoming a powerful force in the Web3 space.
The Early Journey
Launched in July 2021, Pudgy Penguins debuted as a collection of 8,888 uniquely illustrated NFTs, created by Clayton Patterson, MickyJ, Cole Villemain, and Jonah. With an initial mint price of 0.03 ETH (around IDR 950,000 at the time).
The collection sold out in under 30 minutes amid the NFT market frenzy. Within a month, secondary market prices soared to as high as 3 ETH per NFT.
The founding team had ambitious plans for tokens, games, and educational books, but many of these initiatives stalled, leading to community dissatisfaction and loss of momentum.
A Shift in Ownership
On January, 2022, Luca Netz, the CEO of Igloo Inc., publicly made an acquisition offer to Cole via X (formerly Twitter). The offer was valued at 750 ETH, signaling a serious intent to take over the Pudgy Penguins project. Three months later, Cole and the rest of the founding team accepted the offer, officially transferring ownership of Pudgy Penguins to Luca.
From that moment on, Luca began executing plans that had previously been delayed. One of the first milestones was the launch of an educational book in collaboration with Green Kids Club in August 2022. But Luca’s ambitions didn’t stop there, he had a bold vision to transform Pudgy Penguins from a simple NFT project into a globally recognized IP brand that could resonate with audiences of all ages.
Innovation and IP Brand Growth
In July 2022, Luca partnered with PMI Toys and integrated OverpassIP technology into the Pudgy Penguins brand. They created a physical toy line featuring plushies and collectible figurines based on Pudgy Penguins characters. Each toy included a QR code that users could scan to claim digital traits in Pudgy World. Pudgy World is a virtual ecosystem where toy owners can interact, explore, and play together.
Furthermore, the integration with OverpassIP enabled NFT holders to earn royalties from the sales of these toys. The toy collection officially launched on Amazon and made an immediate impact, generating over $500,000 in sales during May 2023.
This success led to a major retail expansion through a partnership with Retail Monster, landing Pudgy Penguins in over 2,000 Walmart stores across the U.S. Within a year, over 750,000 toys were sold, generating $10 million in revenue and earning accolades from Amazon and Toy Insider.
The brand’s global growth continues, with toy sales expanding into international markets and cementing Pudgy Penguins as a crossover success between Web3 and the physical world. As a result, NFT floor prices began to rebound, and community confidence was restored.
Why PENGU Stands Out Among Memecoins
Amid the crowded memecoin landscape dominated by short-lived hype, $PENGU sets itself apart. Here are a few key factors that make it stand out from other memecoins:
1. A Robust Ecosystem
It is part of the already-established Pudgy Penguins ecosystem. Before the token was launched, Pudgy Penguins had built a strong IP brand through various innovations. From NFTs and Pudgy World to Pudgy Toys, and an upcoming mobile game called Pudgy Party, set to launch this year. This diversity gives $PENGU a broader foundation for growth compared to many other memecoins that rely solely on community hype and speculation.
2. Strong Community Support
One of Pudgy Penguins’ greatest strengths lies in its vibrant and globally distributed community. More than just fans, holders have organically formed diverse subgroups such as Pudgy Pool Club, Pudgy Fitness, Pudgy Gaming, Pudgylicious, Chillin Pod, and Pudgy Sports. Each reflecting a unique way for members to get more deeply involved. Notably, several prominent figures in the Web3 space are part of this community. For example, Bryan Pellegrino, CEO of LayerZero Labs, proudly features his Pudgy Penguin as his profile picture on platforms like X.
3. A Growing Global IP Brand
As an IP brand that has successfully entered major retail markets like Walmart and Amazon, Pudgy Penguins has proven that Web3 projects don’t have to exist solely in the digital space. Its presence in the physical world opens up significant opportunities to evolve into a more mature ecosystem. If this momentum continues, it’s highly likely that the $PENGU token will play an increasingly vital role, whether as part of a rewards system, product utility, or a driver of deeper community engagement.
PENGU Price and Market Performance
At the time of writing, PENGU is trading at approximately $0.01247, having declined over 60% from its peak of $0.046. Despite this correction, it remains an integral part of the ecosystem.
This price decline is quite reasonable, considering that over 50% of the total $PENGU token supply was allocated as an airdrop to the community. The selling pressure from airdrop recipients has gradually eased, and the price found its bottom in early April 2025. According to data from CoinGecko, the daily trading volume of $PENGU remains above $20 million at the time of writing, indicating that interest in the token remains strong despite the ongoing correction.
It is entirely possible that $PENGU will establish a new price floor as the Pudgy Penguins brand continues to show impressive growth, both in the Web3 space and the mainstream retail industry.
Conclusion
Starting as a charming NFT collection featuring adorable penguins, Pudgy Penguins has successfully evolved into a global IP brand that bridges both the digital and physical worlds. With its products entering major retailers like Walmart and Amazon, and the launch of the $PENGU token on the Solana network, the project signals a more mature and structured path forward.
$PENGU is far from being just another memecoin. It plays a strategic role in expanding community reach and strengthening the broader Pudgy Penguins ecosystem. Backed by a strong community, a diverse ecosystem, and promising utility potential, PENGU holds significant promise to become a vital element in Pudgy Penguins’ journey toward mainstream global adoption.
How to Buy PENGU on Pintu
Now that we understand what PENGU is, you can start investing in $PENGU, and many other cryptocurrencies through the Pintu app. Here’s how to buy $PENGU on Pintu:
- Create a Pintu account and complete the identity verification process to start trading.
- On the homepage, tap the Deposit button and top up your balance using your preferred payment method.
- Head to the Markets section and search for PENGU.
- Tap Buy and enter the amount you want to purchase.
- Congratulations, you now own PENGU token!
In addition to $PENGU you can also safely invest in other crypto assets like BTC, ETH, SOL on Pintu. All assets listed on Pintu undergo a rigorous evaluation process that prioritizes security and regulatory compliance.
The Pintu app is also compatible with popular digital wallets like MetaMask, making it easier to manage your crypto transactions. Download the Pintu app now from the Play Store or App Store. Your security is ensured, Pintu is officially regulated and supervised by Bappebti and Kominfo.
Beyond trading, Pintu also offers a comprehensive learning hub called Pintu Academy, where you can explore weekly articles to deepen your understanding of the crypto world.
Note: All content in Pintu Academy is intended for educational purposes only and should not be considered financial advice.
References
- Logan Hitchcock, “What Are Pudgy Penguins? The Ethereum NFT Collection and Toy Brand”, Decrypt, accessed Mei 21, 2025.
- Andrew Hayward dan Logan Hitchcock, “PENGU: Everything You Need to Know About the Pudgy Penguins Solana Token and Airdrop” Decrypt, accessed Mei 21, 2025.
- Rich, “Pudgy Penguins Explained: The Web3 Mainstream Success Story” NFTINSIDER, accessed Mei 22, 2025.
- KATHERINE ROSS, “Pudgy Penguins waddle their way into 2,000 Walmart locations” blockworks.co, accessed Mei 22, 2025.