- One of the early PFP NFT projects, Pudgy Penguins has made a phenomenal comeback.
- The rarest piece of the entire collection has sold for 400 ETH or $650,000.
- The floor price of the NFT collection has increased from 2.2 ETH to 3.8 ETH during the last week.
Pudgy Penguins has made an exceptional comeback, thanks to the change in its leadership. At a time when the market isn’t in a favorable position, the NFT collection is climbing the success ladder.
Pudgy Penguin#6873, which is the rarest piece in the flightless bird collection, has been sold for 400 ETH or $650,000. Among the 8,888 tokens, this rare penguin token is the only one that looks in a different direction. Upon selling at such a high price, it has become the highest selling penguin in the history of the project.
Penguin 6873 bought for 400ETH ($630780.00) by 0x304A97 from 0x4C4A54 https://t.co/uQYXSrPofX— Pudgy Penguin Sales Bot (@pudgypenguinbot) August 22, 2022
The project was launched in June last year and gained success as the PFP collection. However, things turned against when Cole Villemain came under the radar for running paid promotions of projects based on NFTs without sharing details about remuneration. Though the allegation turned out false, Villemain as well as the founding team were charged regarding siphoning funds from the treasury of the project. The community decided to fork the project; however, in April, an investor and e-commerce entrepreneur purchased the project for $2.5 million.
After not doing so well for months and trading for less than 2 ETH, the NFT collection is now back on track.
The project has launched clothing & toy lines, NFT marketplace, media hub besides expanding its presence on social media.
As of now, Pudgy Penguins NFTs have exceeded their all-time highs in terms of ETH. During the last week, the floor price increased by 69%; thereby, jumping from 2.2 ETH to 3.8 ETH.
On Sunday, the project launched a nine-member advisory board, including Nansen’s Alex Svanevik and Jordan Sterling.
Meanwhile, FUDrick Douglas, the buyer of the penguin, said:
I was able today to purchase the rarest penguin in a collection that helped me make my first bit of life-changing money.
It’s home pic.twitter.com/rDTsW6mPh2— FUDrick Douglas (@KinkyBedBugs) August 22, 2022