Pudgy Penguin NFTs see floor price rebound
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There was an insurrection in the world of Pudgy Penguins in January, when owners of the popular NFTs revolted against its creators, pushing them to sell the collection to a new owner in April.
State of play After an initial surge in excitement, it took the new management a little bit of time to get the house in order, but recent upswings in price suggest the sale is working out.
By the numbers: Pudgy Penguins' floor price, in ether (ETH), is higher than it has been all year (4.2 ETH is about $5,000). "Floor price" refers to what the cheapest NFTs in a collection sell for.
- More distinctive NFTs in the same series can go for more. This gold one with a party hat sold for 21 ETH (about $25,000) two days ago.
Of note: The new owner did a bunch of stuff to get the brand back on track, including a rollout of plush toys.
Be smart: NFT people think in ether terms, but the high points are a bit different if you look in dollar values.
- The highest floor price in dollar terms hit right after ownership of the collection was sold in April. Penguins briefly broke $10,000 each right after that, but ether has lost a lot of value since.
Visual aid👇
If they look familiar, you might have seen the NYT's NFT treatment last year.
