In a world where digital collectibles are becoming increasingly popular, it's essential to know their history. Recently Sotheby's presented a once-in-a-lifetime online sale collaboration featuring a variety of iconic pieces from the Pudgy Penguins collection. Pudgy Penguins is an NFT collection featuring a variety of rare and precious penguins, which included a soulbound token. The brand has generated over $200 million, making it one of the most successful collections in history.
Pudgy Penguins is a community characterized by cute appearances and a positive ethos. Pudgy Penguins is part of the NFT collection's first wave and has achieved tremendous success thanks to community empowerment, digital innovations, and identity.
It is an honor to witness the first collaboration between Pudgy Penguins and a major company like Sotheby's. The two giants offered the first soulbound token to supplement the auctioned NFT items. Pudgy Penguins welcomes you to purchase a piece of history and become a member of the fastest-growing NFT community. The brand also seeks to promote the Web3 space, showcasing the importance of digital ownership and identity.
This was one of the first online auctions to feature a soulbound token. A soulbound token is a non-transferrable asset held in a wallet. The token is soulbound because a user's account is known as a "Soul." The token is non-transferable and assigned to a specific account, hence the name soulbound. You can think of the token as a user's digital identity. The soulbound token categorizes the holder based on their tiers, ensuring safety and accessibility.
Pudgy Penguins launched in July 2021, and since then, the collection has gained massive recognition, generating more than 60,000 ETH transaction volume in the first year. This brand has managed to onboard renowned celebrities, including Tory Lanez, Steph Curry, and Lil Baby, who helped them transform into a standard bearer in digital collectibles.
Pudgy Penguins' journey has, however, not been as smooth as you might think. During its first year in business, Pudgy Penguins faced The Great Blizzard, which tested its organizational structure. The founders had to transfer ownership to an avid community member, Luca Netz. Despite all the shortcomings, the transition was smooth, and the brand registered increased sales, building a more robust and better community. After the acquisition by Luca Netz and his team, the Pudgy Penguins have garnered over 1 billion views on GIPHY, announced their toy line and children's book, and have taken the NFT space by storm with no intention to stop. Going forward, the Pudgy Penguin collection is even more determined to expand, aiming to create more chances for its community to grow and influence the NFT market and Web3 sphere.
