How to value your Pudgy Penguins NFTs?
Pudgy Penguins are Ethereum (ETH)-based NFT collectibles that have caught the attention of prominent influencers and even mainstream media, such as the New York Times, creating a buzz around the project. Located in the freezing cold, arctic region of the metaverse, there are a total of 8,888 Pudgy Penguins “sliding around on the freezing Ethereum blockchain”. Each Pudgy Penguin comes with a collection of traits, including different combinations of clothing such as shirts, glasses, hats, different hairstyles and accessories, including a “must-have mohawk”, and different facial expressions.
The Pudgy Penguins collection was launched on July 22, with the initial price of 0.03 Ethereum (ETH) per penguin, or about $100 at the time. All 8,888 collectibles were sold out in just 20 minutes on the OpenSea marketplace. For now, when searching among the lowest to highest prices on OpenSea, the cheapest Penguin, will currently cost about 1.67 ETH (or about $5,204).
Who is behind the project?
The Pudgy Penguin NFT project was not founded by one person, but an eight-member team controls the tokens. The eight members responsible are Ecko, Jonan, Cole, Straker XP, Wybo, Mr. Tubby Hiro, and Micah.
How to identify the value of Pudgy Penguin NFTs?
There are several types of Pudgy Penguins currently listed on OpenSea that you can buy. However, before you read the price for Pudgy Penguins, you need to pay attention to a few details about it.
As mentioned above, there are 8,888 of Pudgy Penguins in total, each featuring a different cartoonish penguin assembled from an array of randomized traits. Some penguins wear sunglasses, some wear sombreros, likewise, there are penguins with bow ties and penguins with mohawks. You may also see devil horns or a fish laying on top of its head. It is similar to Cryptopunks or Bored Ape Yacht Club in approach, but with a generally more wholesome allure.
Let's consider an example of the 3 highest sales
Pudgy Penguin #6873
The most expensive Pudgy Penguins NFT sold was Pudgy Penguin #6873. It was sold for $468.6k on 2021-08-09. This is a surprisingly plain penguin design set against a unique green backdrop and yet it is the only one in the entire collection that is left-facing. The Pudgy Penguin #6873 has some other rare attributes in the mix such as Black Skin and traitless Head.
Pudgy Penguin #3950
Next is Pudgy Penguin #3950 sold for $396.6k along with such rare traits as Beach Background, Pineapple Suit Body, and Pineapple Suit Head (only 0.01% have the following traits).
Pudgy Penguin #5678
Followed by Pudgy Penguin #5678 sold for $314.4k featuring Trick or Treating Background, Pillow Case Body and Face, Normal Head (only 0.01% have following traits). Both Penguins have Navy Blue Skin being among the 0.05% having this trait.
Community members feel that the main value of buying a Pudgy Penguin is becoming part of the family with its own slang and socialization. Perhaps the single highest honor for a Pudgy Penguin owner is getting the right to put a Penguin on their Twitter avatar. However, the collection has shown significant growth and has only increased in price. More and more people are investing in Pudgy penguins. So far, OpenSea further shows 4,400 Pudgy Penguins owners, a floor price of ETH 1.81, as well as the traded volume of ETH 34,2K.