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I Joined a Penguin NFT Club Because Apparently That’s What We Do Now

I Joined a Penguin NFT Club Because Apparently That’s What We Do Now
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I Joined a Penguin NFT Club Because Apparently That’s What We Do Now

I Joined a Penguin NFT Club Because Apparently That’s What We Do Now

“There was huge meme potential in the big penguins, so we decided to roll with that,” Mr. Patterson said.

The first NFT community was the CryptoPunks, a series of 10,000 pixelated characters that were sold starting in 2017. They have become a luxury status symbol, with unique images sold for millions of dollars, and paved the way for other community NFTs, including the Bored Ape Yacht Club, a group of 10,000 cartoon primates that now sell for over $ 45,000 each.

Mr. Patterson and his co-founders are hopeful that Pudgy Penguins will eventually join the NFT Hall of Fame. The original collection sold out in 20 minutes, and more than $ 25 million of them changed hands overall, according to NFT Stats, a website that aggregates NFT sales data. Earlier this week it was still possible to score a penguin for a few thousand dollars, but penguins with rare features like backgrounds of different colors or gold medals around their necks can go much further. . The most expensive was Pudgy Penguin # 6873, which sold for $ 469,000.

I messaged Mr. Patterson on Tuesday, asking if he had any advice on getting my own chubby penguin without breaking the bank. (The New York Times expense policy unfortunately does not cover bird JPEGs.)

“Wait, maybe I can do something,” he replied.

A few minutes later, two Pudgy Penguins – # 3166 and # 5763 – appeared in my cryptocurrency wallet. One was a picture of a penguin with a rag and sunglasses; the other wore a baseball cap with an igloo and what looked like a bomber jacket. They were a gift, said Patterson, in recognition of my willingness to learn more about the community. (Since I cannot accept gifts ethically, I will return my chubby penguins to Mr. Patterson after this column is published.)

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I then joined the Pudgy Penguin Discord server, where I was greeted by a host of other owners who were delighted to see me, not least because they believed getting the attention of The Times would increase the value of their. own penguins. (After receiving my images, I got offers to buy them for thousands of dollars.) The co-founders of Pudgy Penguins earn a royalty every time a penguin is sold, but other owners don’t. profit only if they can resell their penguins for more than they paid.

Like any good crypto-clique, the owners of Pudgy Penguin have developed their own language and customs. Penguins are “penguins”. The owners are “huddlers”. “Tufts” are a rare and valuable type of penguin without a head covering, while “floors” refer to cheaper and more common varieties.

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