Rare Pudgy Penguin NFT sells for an incredible 400ETH ($625K)

Rare Pudgy Penguin #6873 is a rare, mirrored-trait Penguin PFP with a green background.
August 24, 2022 - Cynthia Chung

On Monday, an NFT from the Pudgy Penguins collection was sold for 400 ETH (around $600k), around US$ 625,000 at the time of writing. 

The Ethereum-based NFT #6873 is the rarest of the 8,888 piece collection ‘Pudgy’.The rare, mirrored-trait Penguin PFP with a green background has previously sold for 225 WETH back in September of 2021, back when ETH was around US$ 3,505. 

Pudgy Penguins is a PFP project that was introduced during the 2021 bull run in the NFT market. When it was first launched, its adorable pudgy penguin avatars were quickly sold out, and the project was initially very popular. In September 2021, a collector paid 225 ETH for a Pudgy Penguin NFT, worth nearly $1 million at the time.

However, the project’s creator, Cole Thereum was caught for engaging in scam activities and its project’s founding team had emptied the project’s funds. As a result, Pudgy Penguins was acquired by Luca Schnetzler, an entrepreneur and a member of the Pudgy community back in April. 

Since the project’s ownership changed hands, the collection moved on to launch its own marketplace and announced a line of plush toys, a childrens book and other merch featuring Pudgy Penguins. 

Under the new management, Pudgy Penguins has been growing exponentially, especially in recent weeks. The collection has spiked 83% in the past two weeks (according to NFTPriceFloor) and recorded more than 310 sales on OpenSea in the past 7 days (according to NFTCalendar). 

Photo: Pudgy Penguins


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