- Pudgy Penguins spiked 597% in terms of weekly transaction volume.
- Sales volume topped Trump Cards, BAYC and Moonbirds NFTs.
- The NFT floor price of Pudgy Penguins hit an all-time high (ATH).
The Pudgy Penguins NFT Collection on Ethereum (ETH) blockchain has stood the test of time and rebounded to attain multiple milestones this year. The virtual penguins living in the metaverse North Pole even topped the most successful blue-chip NFT collection, the Bored Ape Yacht Club, by transaction volume and sales in the last 24 hours. Indeed, a year after the NFT frenzy crested, flourishing NFT projects are a rare breed. To illustrate, the global NFT market recorded its first-ever quarterly loss in Q3 of 2022.
In a broader perspective, Yuga Labsโ trademark Bored Apes were the undisputed kings of the NFT jungle for most of 2021 and 2022. To illustrate, at the beginning of the year, one average trait Bored Ape would have been equivalent to 120 Pudgy Penguins NFTs. However, now the same regular trait Bored Ape NFT would only net eight Pudgy Penguins NFTs, as the floor price difference between the two popular collections is much closer.
It makes sense that an ape Netz you less penguins than before.
— Mihai (@presentlyMihai) December 28, 2022
Pudgy Penguins Reach Record NFT Floor Price
The transition from an unknown NFT collection with a sketchy reputation to one of the most critically acclaimed NFT collections started in April 2022. The previous owner was accused of a rug pull, which led to the vast community behind Pudgy Penguins NFTs voicing their concern about the situation. Luca Netz heard their pleas. The NFT enthusiast acquired Pudgy Penguins NFTs for just 750 Ethereum (ETH).
Sponsored
Having bought the whole NFT collection for a fraction of the current price, new Chief Penguin Luca Netz announced the making of physical Pudgy Penguin toys. At the same time, another ten NFTs were sold at Sothebyโs, the worldโs premier art auction and marketplace. Finally, the Pudgy Penguins can compete with the well-established blue-chip NFT collections on ETH, as the NFT floor price for a Pudgy Penguin NFT is close to reaching seven ETH, a crucial level of support in the current NFT market conditions.
1. April: @LucaNetz acquires @pudgypenguins for 750 ETH.
— Origin Protocol (@OriginProtocol) December 28, 2022
2. August: Pudgy Toys announced.
3. August: Record 400 ETH sale on their custom marketplace powered by Origin Story.
4. November: 10 NFTs auctioned at @Sothebys and sold out for $129k.
5. December: Floor price ATH (7 ETH!) pic.twitter.com/OkzigiccRf
On the Flipside
- Pudgy Penguin NFT floor prices dropped by 7.37% in the last 24 hours to 6.22 Ethereum (ETH).
- The NFT market keeps plunging, thus only six NFT projects grew their fanbase in the last two weeks on Twitter.
Why You Should Care
The Pudgy Penguins NFT project is seen as a long-term investment by many ‘diamond hands’ investors, as nearly 5,000 of the NFT collection is held by the wealthiest Ethereum whales and has never been sold.
Find out more about other essential NFT collections:
Yuga Labs Drops Meebits NFT Collectible Music Album Made With AI
Donald Trumpโs NFT Collection Floor Price Drops, Possible Dump Incoming?
