jakiro
Author: TPAN Source: SUBSTACK Translation: Shan Ouba, Bitchain Vision
Last week, in MiamiArt BaselDuring the event, the Pudgy Panguins team announced that they would launch their own tokensPenguEssence
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I have to admit that I was a little excited when I saw the news, and even pulled my wife to watch the video on TV (she seemed to like …?).This excitement is not only because I also have a Pudgy Penguin, but also because of Yuga LabsBored Ape Yacht ClubLaunched in March 2022APESince the tokens, there are no other top NFT projects to release similar tokens.Moreover, this project is gradually transformed from a simple digital avatar (PFP) and collectibles into an ecosystem with actual value, and I have been paying attention and recorded their efforts and achievements, including their GIF strategy, retail market expansion, and gradual gradualBecome a transformation of airdrop hotspots.
PENGU tokens’ uniqueness
1. Short -time preparation cycle
Although rumors about the launch of tokens about the Pudgy PENGUINS plan have been circulated for many years, the official announcement was not issued until December 5, saying that Pengu will be officially launched in 2024.As of my writing (December 10), the tokens have not yet been released, but it is likely to be launched within the next 3 weeks.
Generally, airdrops related to assets or ecosystems will have a long preparation cycle (several months or even years), and a strong signal will indicate the launch of the tokens, or to lock the airdropping qualification by announcing the snapshot date.However, Pengu did not take such a route.
This has triggered a warm response in the NFT market:
•Pudgy penguinsThe base price16 eth(About $ 61K) rose to23 ETH(About $ 83K).
•Lil pudgies(Son series) The reserve price1.7 ETH(About $ 6.5K) rose to2.5 ETH(About $ 9K).
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Token positioning
Pengu ismeme coinAs well asPractical token,stillCultural tokensIntersection
It seems that the above three have both, and they may also take more roles in the future.Currently, it is described asPudgy Penguins official token, Serve this NFT project that is positioned as “cryptocurrency facade”.
Although it is a subjective statement to claim to be “cryptocurrency facade”, Pudgy Penguins does have a solid foundation to support this statement:
•34 billion GIF views: Almost everyone has seen the GIF of Pudgy Penguins;
•1.6 million Instagram followers: Cute and resonate with the content;
•522,000 TIKTOK main account fans,as well as1.11 million Pudgy Kindness account fansItems
• Global sales exceeded1.5 million pieces of Pudgy Toys, Laiders such as Walmart, Target and Amazon.
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For those who have not been involved in cryptocurrencies, PENGU provides a new way to allow fans of Pudgy Penguins to establish a deeper connection with roles, brands and intellectual property (IP), and no longer limited to buying toys or content with content with content with contentinteractive.
This is consistent with the view I mentioned earlier “cryptocurrencies is a better stock”.Holding a PENGU tokens can be regarded as an owner or stakeholder of the Pudgy Penguins brand in a new way, just like buying a company’s shares is of similar significance.
For some people, this is an investment; for others, this is a way to express fan status; or both.In addition, with the growth of the brand, the use of tokens may be further expanded.
Why choose solana?
About pengu token was initiallySolanaThe decision on the chain has triggered some confusion and early criticism.Considering that Pudgy PENGUINS is currently basedEthereum, And its parent companyThe Igloo, INC.Plan to launch its own Ethereum Layer 2 blockchainAbstractWhy not wait for ABSTRACT to be ready before release?
The following is the teamInner Igloo(A double -week seminar for Pudgy NFT holders) Share sharing:
1. 1.Pioneering new user groups: The Solana ecosystem has not been exposed to Pudgy Penguins, which is a good way to cross -promotion and attract more Pengu holders;
2.Costing the culture of Solana: SolanaMeme currency transactionAnd well -known, tokens like Pengu are likely to be warmly welcomed;
3..Technical maturity: If the time is allowed, Pengu may be launched on ABSTRACT, but the blockchain is not ready, and the team believes that the tokens should not be forced to go online in a hurry.In the future, it will provide options for ABSTRACT (and other blockchains) to receive PENGU cross -chain bridges.
Token economics
Pudgy Penguins showed its token economic model in a novel and interesting way, not the traditional 20 -page white paper and cake map.
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This cute style fully reflects the brand characteristics of Pudgy Penguins.
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•Total supply: 8888,888,888 (8.89 billion), pay tribute to 8,888 NFTs in the original Pudgy Penguins series;
•Application period: 88 days.
Two of the allocation details are particularly conspicuous:
1. 1.Other communitiesThe
about24% tokensThe proportion of assigned to “other communities” and the community assigned to the Pudgy holder community (about26%)quite.
On the surface, this seems unfair to the Pudgy community, but the distribution scope explains this decision:
• Pudgy holder allocation will cover about 15,000 wallets;
• Other community allocation is about5 million walletsEssence
This is in sharp contrast to the analysis of token design and distribution of token design and distribution of 6th Man Ventures. This analysis finds that large -scale airdrop performance is often poor compared with airdrops focusing on core users.
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2.Positioning for mainstream consumersThe
Unlike most infrastructure or DEFI tokens, PENGU is more like a cultural tokens or MEME coins.This setting is highly compatible with the strategy of Pudgy Penguins for the mainstream consumer market.
Although the specific list of “other communities” has not been announced (may be announced until the tokens were launched), there are already some hints and speculations, such as two mainstream productsPhantomandMoonshotIt has been replaced with a avatar of the Pudgy Panguins style.
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The two applications are separated on Saturday morning and only8 minutesPublished the content of the Pudgy brand.Is this a coincidence?I don’t think so.
If Pudgy Panguins wants to be the facade of the encryption field, contactPhantomandMoonshotThe user base is undoubtedly wise.
Another group may becomePenguThe community of the airdrop receiver is those projects that have provided airdrops or privileges for the Pudgy community.Over the years, dozens of projects and ecosystems have expressed goodwill to the Pudgy community, andPenguPerhaps it is a way for Pudgy Penguins to give back them.
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In addition, inInner IglooDuring the event, Luca mentioned another highlight related to the distribution of tokens: buy Pudgy toys and scan toys to registerPudgy worldConsumers will also receivePenguEssenceThis is another way to bring the new audience into the chain.
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Public Good
One of the allocation part of my most interested is“Public interest”, It will get4% tokens supplyEssence
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At present, for the public, cryptocurrencies and web3s are still generally regarded as gambling, virtual currencies, scams, or things that make people feel unpredictable.However, understanding the deeper meaning of cryptocurrencies and web3 requires a curiosity, patience and opening up -they are far more than these negative impressions, but also have many positive aspects.
One of them is charity, and Pudgy Penguins is practicing this in its own way.
byPudgy KindnessTiktok account as an example, it only released11 videos, But already accumulated1.1 million fansEssenceThis account focuses on different content creators and the story behind them.For example, creatorBill(A touching video released by Pudgy Kindness, from Fishing with “Oh Dad!”)1,300 subscribersGrow to1.5 millionEssence
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With the introduction of tokens, similarPudgy KindnessThe project will go to the next level.I look forward to seeing how it will expand in the future.
This effort usually does not get the recognition immediately, because it will not directly increase the token price or “increase the value of assets.”However, in the long run, it can bring goodwill and have the potential to change the public’s view of cryptocurrencies. Especially when this effort comes from a “cute and fat bird” called a cryptocurrency facadeEssence
