Pudgy Penguins, a popular NFT collection, plans to launch its own token, PENGU, on the Solana blockchain. The token distribution will include allocations for NFT owners, Solana and Ethereum communities, and liquidity on decentralized exchanges. Pudgy Penguins has managed to maintain cultural relevance in the NFT space despite the market collapse, and it is currently the third-largest NFT collection by market cap. The collection features hand-painted penguins with unique characteristics and has a strong social media following.



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