This NFT collection breaks all time high 📈

Gm Mitro,The year is coming to an end with devs launching Cringe Santa games on Twitter but after a tedious bear 🐻 market, there's finally a project that breaks the all time high - Pudgy Penguins 🐧

Pudgy Penguins NFTs are on a Christmastime tear

The Ethereum-based non-fungible token (NFT) lineup has eclipsed Bored Ape Yacht Club (BAYC) and other so-called “blue chip” digital collectibles in 24-hour trading volume – its 1,200 ETH is nearly double that of the runner-up, BAYC.

That surge in trading activity comes as Pudgy Penguins sets new all-time highs in terms of ETH-denominated floor price, a popular metric. At press time, the lowest asking price for a “Pengu” on NFT trading hub OpenSea was 7 ETH. That’s a 32% jump in 24 hours.

The Journey : Where it Started

The market drama caps Pudgy Penguins’ year-long redemption arc. It began 2022 in the dumps price-wise but then rallied after a change of ownership and refocus on branding.

And the late-December moon mission is lifting all ice boats. Sister collection Lil Pudgys has seen its floor price spike 56% (to 0.69 ETH) and trading volume explode 713% (to 464 ETH) over the last 24-hours. Pudgy Penguin owners are buying their small counterparts at a faster clip than any other collection.

The collection’s revival this year comes under new ownership as Penguin holders ousted the NFT’s founders in January after the original team squandered the project’s treasury with little to show for it.

Penguins : Acquisition 🧊

Four months later, serial entrepreneur Luca Schnetzler (Netz) bought the rights to Pudgy Penguins for $2.5 million and a promise to “build the brand.” He’s since rolled out Pengu licensing deals, a collection marketplace and social media campaign to break into blue chip territory and connect “with everyday consumers.”

That means “making real money and selling real products – not some imaginary web3 setup where you kick back and collect royalties [on NFT resales] all day.”

Netz noted that Pudgy Penguin-branded merchandise – t-shirts, hats and hoodies – have seen an uptick in sales during the holidays. He’s banking on toys and collectibles in the year ahead.

Penguins are tired 😴 now, Lets wrap and wish them Goodnight ✨

Till then, Web3shala

To the moon 🚀Penguins 🐧