Pudgy Penguins NFT has achieved record sales of $650,000 for the revived collection. Following the transaction, the NFT token base price also increased by 400%.
Private investments spent $650,000 on NFT token
Pudgy Penguins is rising despite months of exhausting NFT bear market. One of the iconic pieces of the NFT collection, Pudgy Penguin #6873, sold for just under $650,000 worth 400 ETH on Monday. Among the 8,888 pieces, the only rare penguin to face a different direction has recorded a historic sale.
Pudgy Penguins was launched in June 2021 and soon became one of the most sought after NFTs in the “PFP” category, a niche popularized by CryptoPunks and Bored Ape Yacht Club and distributed via social media profile pictures. However, it went into decline after its infamous founder and one of the popular members allegedly ran paid promotions.
Pudgy Penguins reaches 400 ETH sales despite bear market
Pudgy Penguins is making a comeback months after falling into obscurity and trading below the 2 ETH range. Since the April acquisition, Pudgy Penguins has had a new opportunity to rebound. During the process, she launched her own NFT marketplace, clothing and toy lines, a media center. He has also grown his social media presence. The base price of the collection has increased by nearly 400% since the last purchase.
Pudgy Penguins’ daily trading volume has dropped from a record $600 million in May to an average of $25 million in the last three months. Despite the grueling NFT bear market, Pudgy Penguins NFTs have surpassed ATH levels in terms of ETH. Then, last week, the base price of the collection increased by about 69% from 2.2 ETH to 3.8 ETH. Many of the other sought-after PFP NFT collectibles have seen their base prices fall in recent months.
The most important move that made this week’s rise was the announcement on Sunday.
The project has had collaborations with veteran Web2 and Web3 developers such as Alex Svanevik of Nansen and Jordan Sterling, who worked on Meta’s venture capital partnerships team. These and others will serve on a nine-member advisory board. Pudgy Penguins also triggered a floor price rally that resulted in 400 ETH NFT sales on Monday. He then posted on Twitter:
Our board of directors from diverse backgrounds at Web2 and Web3 will assist in our quest to innovate across multiple industries.
Descriptions of the new NFT token holder
The recipient of the left-facing penguin named FUDrick Douglas said on Twitter today:
Today I was able to purchase the rarest penguin in a collection that helped me earn my first life-changing coin.
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