What is Pudgy Penguins (PENGU)

1. Project Introduction
$PENGU is a meme coin launched by Pudgy Penguins, enabling more fans to join and engage with the project's ecosystem through the issuance of PENGU tokens. Pudgy Penguins features multiple NFT collections, including Pudgy Penguins, Lil Pudgys, SBTs, Pudgy Rods, and Pudgy Worlds. The brand generates revenue by offering a diverse range of toys and merchandise, available in major retailers such as Walmart, Target, Walgreens, Hot Topic, and Line Stores. Notably, Pudgy Penguins is the first crypto-native brand to break into mass retail markets like Walmart and Target.
Summary: $PENGU is a meme coin introduced by Pudgy Penguins. The Pudgy Penguins NFT collection boasts a highly influential community, millions of fans, and over 50 billion views, cementing its reputation as a popular and well-known brand.
2. Team & Investment Info
The parent company of Pudgy Penguins is Igloo Inc.
Pudgy Penguins was launched in July 2021 by X user ColeThereum and anonymous collaborators Mr. Tubby, Mickyj, and Jonah. In April 2022, following a competitive bidding war, long-time fan Luca Netz (Schnetzler) acquired Pudgy Penguins for 750 ETH (approximately $2.5 million at the time) and assumed the role of CEO.
Luca Schnetzler has extensive experience in running e-commerce businesses and boasts 120,000 followers on X under the handle @LucaNetz.
Lorenzo Melendez, the former founder and CEO of Cowboy Labs, also serves as a full-stack engineer at LeanTaaS.
Funding: In November 2024, Animoca Brands announced a strategic investment in Igloo Inc., the parent company of Pudgy Penguins. The Sandbox and Animoca Brands Japan, subsidiaries of Animoca Brands, also participated in the investment. In July 2024, Igloo Inc. completed a funding round exceeding $11 million. The round was led by Founders Fund with participation from Fenbushi Capital, 1kx, Everest Ventures Group, and Selini Capital.
3. Social Media URLs
X: https://x.com/pudgypenguins
Discord: https://discord.com/invite/pudgypenguins
YouTube: https://www.youtube.com/channel/UCh884Rm4plIxpdRG00FDfVg
Ins: https://www.instagram.com/pudgypenguins
4. Token Info
Token Symbol: PENGU
Total Supply: 88,888,888,888
Token Type: SPL
Issuance/Burn Mechanism: Fixed supply
Contract Address: https://solscan.io/token/2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv
Token Distribution:
Company: 11.48% (1-year cliff, 3 years vest);
Current & Future Team: 17.8% (1 year cliff, 3 years vest);
Liquidity: 12.35%;
FTT Holders: 0.35%;
Public Good: 4%;
Proliferation: 4%;
Pudgy Community: 25.9%;
Other Communities: 24.12%.
5. Related Links
Official Website: https://www.pudgypenguins.com/
LinkedIn: https://www.linkedin.com/company/pudgy-penguins/
Other Info: https://www.rootdata.com/Projects/detail/Pudgy%20Penguins?k=Nzc4OQ%3D%3D