Quick Summary
- Despite skepticism in the NFT market, Pudgy Penguin rarest NFT sold for 400 ETH. The collection of 8,888 NFTs has a floor price of 3.4 ETH on OpenSea.
In an incredible development for the well-known penguin project, the NFT #6873 from the Pudgy Penguins collection was acquired for an astounding 400 ETH (about $600k). It represents a significant milestone for the penguins and represents the largest ETH sale in the project’s history.
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The Pudgy Penguins floor price jumped 69% over the last week
Pudgy Penguin is a collection of 8,888 rare NFTs based on Web3. Data from Opensea shows that the current floor price of these NFTs is 3.4 ETH. The sale of this NFT might be a signal that the bearish cycle in the NFT market is officially over.
The rare NFT which sold for 400 ETH is a PFP with green background. Pudgy Penguin #6873 is among the rarest in the collection because just 0.01% of the other NFTs in the project share nearly all of the characteristics of the project avatar.
On September 8 of last year, the bidder CoinUnited paid 225 ETH for this asset, which was then valued at about $788,000, according to the transaction history on OpenSea. As a result, they made a significant ETH profit, yet it would be recorded as a loss of $118,000 in fiat currency.
Despite the numerous jokes that have been made on Twitter regarding the selling of the NFT for 400 ETH, the new owner might have made a brilliant decision. The floor price for a Pudgy Penguins NFT has also increased recently, rising by 83% and 69% over the previous month. CryptoSlam stats shows that Pudgy Penguin NFT revenue over the last 30 days totaled $7.5 million, a 314% rise over the same period.
What next for the Pudgy penguins?
A participant of the Pudgy clan named Luca Schnetzler delivered the founder’s whole collection in April of this year amid controversy. The project is now prospering, with a wonderful community and a clear future course.
The Pudgy Penguins were sold for 400 ETH, demonstrating that many people sincerely believe in this special collection. Finally, there are plans to significantly improve the ecosystem of the Pudgy Penguins. In the future, they are planning to release several actual plush toys, a children’s book, and other perks.
Conclusion
The NFT market might be going through a bearish cycle, but good projects are still making its way into it. The Pudgy clan statistics are quite impressive and what is more, the project team has recently launched its own marketplace. If you’re an NFT enthusiast, you should look for projects with a good development team and a promising future.
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author: mnmansha
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
