The Penguin NFT Club, a curious collection of 8,888 non-fungible tokens of cute penguins, sold Fat Penguin #6873 for $469,000.
Conceived this summer by “mrtubby” or Mr. Patterson along with three other computer science classmates from the University of Central Florida, the Penguin NFTs follow the Ether standard and seem to be appreciated by the cryptocurrency community.
Specifically, they are 8,888 unique penguins with different combinations of costumes, facial expressions, and accessories. In this regard, Patterson comments below.
“Fat-looking penguins have huge meme potential, so we decided to roll with it.”
And at a time when the emerging NFT market is literally exploding, this new idea seems to have found a way to succeed.
In fact, according to reports, the initial series sold out in 20 minutes, reportedly adding over $25 million in value.
In the last four days alone, four Little Penguins have been sold, as follows.
#6873 for about $469,000
#5678 for approximately $315,000
#7365, priced at approximately $217,000
#1516, priced at approximately $175,000
Stubby Penguin and the NFT community as the basis for a meta-space
This curious Pudgy Penguin series and its huge success also reflects the current market trends for the NFT community.
Unlike NFT Art, which represents digital, unique artwork, like any physical painting, NFT Community is a group project.
Like Pudgy Penguins, they are actually released as a set of unique images (i.e. it’s possible to buy and sell them individually), but are tied together by a theme. Not only that, but by purchasing a Community NFT, you can join the project community and receive additional benefits.
Reflecting on the evolution of this collectible token, the Community NFT is said to be the foundation of a meta-universe, an all-encompassing digital world that will eventually have its own form of identity, community and governance.
“Metaverse enthusiasts believe that our digital identities will eventually become as meaningful as our offline selves, and that we will spend money accordingly. They predict that instead of putting artwork on the walls of our homes, we will place NFTs in the background of our virtual Zoom. Instead of buying new clothes, we’ll spend money on premium skins for our V.R. avatars.”
Facebook CEO Mark Zuckerberg also expressed and shared this idea in an interview last month. The fact that Facebook has been working on virtual and augmented reality for some time is not news.
However, focusing on NFTs, there have been other projects designed to represent exactly the concept of reality and meta-space. Among the many projects are the OVRLands, a digital world divided into 300 hexagons, where each OVRLand is an ethereal NFT.
In early May 2021, OVRL auctioned off its Eiffel Tower NFT for 38 ETH, equivalent to nearly $107,000 at the time.