PENGU Claims Go Live After Pudgy Penguins NFTs Post New All-Time Highs

Claims for PENGU, the Solana-based governance token associated with the Pudgy Penguins NFT collection, are live.

PENGU claims went live at 8 am EST on Dec. 17, with the token scheduled to begin trading on major centralized exchanges including Binance and Bybit one hour later.

Users holding Pudgy Penguins, Lil Pudgies, and Pudgy Rogs NFTs, in addition to soulbound tokens issued to ecosystem participants, can claim PENGU tokens. Eligible wallets will have up to 88 days to claim the tokens, after which any unclaimed supply will be functionally burned.

Owners of physical Pudgy Penguins toys will also be able to claim PENGU once Abstract Chain, the forthcoming Ethereum Layer 2 network from Igloo Inc. — the company behind Pudgy Penguins, is live on mainnet. Netz said it will publish news regarding Abstract’s mainnet launch next month.

Luca Netz, the CEO of Pudgy Penguins, urged holders to be wary of potential scams when claiming their tokens. “Please do not rush to claim and make sure to triple check the link you're claiming from, and cross-reference our discord, my X account, and the main @pudgypenguins account before you connect anything,” Netz said.

Netz also recommended that users claim via desktop to simplify the process of connecting both Solana and Ethereum wallets to the platform.

PENGU ignites Pudgy Penguins frenzy

Pudgy Penguins announced the upcoming PENGU airdrop on Dec. 5, driving the floor price of Pudgy Penguins to all-time highs.

Data from NFT Price Floor shows the collection’s floor price soaring to an all-time high of $135,000 on Dec. 16, marking a 145% gain in 11 days. At the time of writing, the floor price of Pudgy Penguins is $123,930.

The Lil Pudgies collection has also been on a tear, rallying 190% since Dec. 5 to an all-time high of $17,094 yesterday, before pulling back to $14,960.

Unfortunately, frenzied efforts to qualify for the airdrop have also manifested as vandalism and theft. On Dec. 16, Suji Yan, the founder of Mask Network, tweeted photos indicating that the QR codes associated with physical Pudgy Penguins toys had been stolen from a store stocking the collectibles.

“These pics are from stores in NYC today... all boxes are opened and QR code gone,” Yan said. “Suddenly the airdrop make ‘Degens’ rush to Walmarts [and] did all these nonsense. This is theft and crypto community should condemn these actions.”