Main crypto corporations are already dropping the Pudgy Penguin profile footage (PFPs) that they adopted over the weekend as bitcoin (BTC) continues to hit record-breaking highs.
X person Phin_Erin famous that Pudgy Penguin PFPs from Coinbase and Opensea had been dropped 24 hours after they had been uploaded. The short rebrand was a part of a coordinated push from Pudgy Penguins and varied crypto companies to advertise the NFT agency this weekend.
The likes of Binance.US, Polkadot, and Justin Solar joined the fray (Polkadot has additionally dropped the penguin PFP).
Nonetheless, the limelight was taken away from the Penguin-themed venture when BTC continued to interrupt all-time-high costs on its strategy to $122,000 this week.
Phin_Erin’s statement appeared to have upset varied NFT holders, primarily Bored Apes holders, who known as for an finish to “PVP stuff.” Pudgy Penguin’s CEO, Lucas Netz, additionally blocked Phin_Erin afterwards.
Regardless, the initiative noticed the NFTs enhance in worth. In keeping with CoinGecko, the ground worth rose by 35%, from highs of 10.98 ether (ETH) on Friday to 14.86 ETH (~$45,000) at present.
The value of its PENGU token additionally rose 34% from highs of $0.023 on Friday to $0.031 on Sunday.
BTC, however, rose by 3.6% from a excessive of $118,502 on Friday to $122,780 on Sunday. Its market cap is now over $2.4 trillion and has surpassed Amazon’s market cap.
Pudgy Penguins’ huge collab didn’t escape of crypto circles
Pudgy Penguins is doing every part it may possibly, branding-wise, to develop its IP and turn into larger than Disney whereas claiming to be the mascot of crypto.
It makes use of books, a cartoon YouTube collection, Walmart plushies, arcade machines, and a cellular sport that’s a knock-off of the already well-liked Fall Guys, in an try to seemingly get youthful audiences to put money into its crypto merchandise.
We’re undecided how the children will handle to interpret the Vaneck disclaimer for the Pudgy-promoted Ethereum ETF.
Pudgy Penguins can be part of Canary Capital’s proposed ETF, which was lately acknowledged by the Securities and Trade Fee. The funding agency VanEck has additionally collaborated with Pudgy Penguins a number of instances and used the model to advertise an Ethereum ETF.
Pudgy co-founder Peter Lobanov teased this weekend’s collaboration on Friday and additional hinted that it will be “bigger” than partnerships with non-crypto companies akin to Disney’s Fortnite and McDonald’s.
Nonetheless, ultimately, the partnership was simply with different crypto companies.
