The “Fat Penguin”, the popular NFT market with sales of more than 11 million US dollars in 24 hours, successfully climbed to the top

simply put

  • An Ethereum-based NFT project called Pudgy Penguins is now exploding.
  • In the past 24 hours alone, this series of NFTs has sold more than 11 million U.S. dollars in the secondary market.

The "Fat Penguin", the popular NFT market with sales of more than 11 million US dollars in 24 hours, successfully climbed to the top

Want to know which NFT collectibles series are currently in high demand? It’s simple: just go to the encrypted Twitter community to find out. Among celebrities and enthusiasts in the crypto industry, you will find the veteran CryptoPunks and the recent incarnation of Bored Ape Yacht Club as regulars. Recently, you will find Pudgy Penguins (Pudgy Penguins) often appear in front of your eyes.

It is difficult for Pudgy Penguins to break the Ethereum-based NFT collectibles model. There are a total of 8,888, each depicting a cartoon penguin with a different image, and they are composed of a series of random features. Some penguins wear hats or glasses; have mohawk hairstyles; wear a T-shirt or a scarf. You may also see certain penguins with devil’s horns or a fish lying on top of their heads.

But like those suits, they sell like hot cakes. The initial sale of Pudgy Penguins quickly sold out. NFT works were all cast about three weeks ago, but in the past few days, their exposure on Twitter has exploded. When Reddit co-founder and well-known investor Alexis Ohanian (Alexis Ohanian) tweeted his Pudgy Penguins on Tuesday, it seemed to confirm that the craze for collectibles was burning. The story about them reported by The New York Times today reinforces this point.

The "Fat Penguin", the popular NFT market with sales of more than 11 million US dollars in 24 hours, successfully climbed to the top

NFT can represent almost any type of ownership contract for digital projects, whether it is images, video files, video game projects, or anything else. Earlier this year, the broader NFT market exploded, with total transaction volume in the first six months of 2021 reaching approximately $2.5 billion.

Although some buzz around the market seems to have calmed down in recent months, trading volume has surged recently. After the CryptoPunks floor price broke through the $100,000 mark for the first time last week, it has now reached about $150,000, and recently the series’ sales have reached several million U.S. dollars. At the same time, the newer NFT project Bored Ape Yacht Club witnessed its NFT sale price of more than $1 million for the first time last weekend.

According to CryptoSlam data, Pudgy Penguins’ transaction volume in the past 24 hours was USD 11.8 million worth of ETH, which is a considerable new peak in the series. Compared with the value of nearly 3.6 million US dollars in the previous 24 hours, this is a big increase, which makes Pudgy Penguins surpass CryptoPunks (7.6 million US dollars) and Bored Apes (2.1 million US dollars) in the last day of sales.

As you might expect, the increasing demand for Pudgy Penguins is driving their prices soaring. At the time of writing, the floor price of OpenSea on the secondary market is 2.3 ETH, which means that the cheapest Pudgy Penguins you can buy right now is also slightly more than $7,000. Earlier today, it was 1.85 ETH (approximately US$5,700). This kind of hype is real, and the market is responding in the same way.

Looking at some recent sales on OpenSea, you usually see that the value has soared several times in the last week alone. For example, Pudgy Penguin #5729 just sold today for 2.5 ETH (7,675 USD). Less than a week ago, it sold for 0.33 ETH ($1,012). Less than a week before that, it sold for only 0.03 ETH ($92).

According to CryptoSlam data, the most expensive penguin sold so far is a surprisingly simple penguin design with a green background, but it is the only penguin in the entire series that faces to the left, as well as others in the mix Some rare attributes. Two days ago, it was sold for 150 WETH (Wrapped Ethereum) or about 458,000 USD, and now the current owner is listing it on OpenSea for 1,000 ETH, which is approximately more than 3 million USD.

The "Fat Penguin", the popular NFT market with sales of more than 11 million US dollars in 24 hours, successfully climbed to the top

 

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