Pudgy Penguins Unveils Soulbound Token (SBT) in New Game Release!

Jakarta, Pintu News – Pudgy Penguins (PENGU) announced the launch of a new Soulbound Token (SBT) tied to its latest mobile game, Pudgy Party. This was announced amidst efforts by the PENGU price which has struggled to maintain momentum after registering recent gains.

Pudgy Penguins Launches SBT’s “Early to the Party”

Pudgy Penguins announced the launch of the “Early to the Party” Soulbound Token (SBT) ahead of the Pudgy Party game’s global launch on August 29.

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These SBTs will serve as non-transferable digital badges for players who first download the game from the Apple App Store or Google Play and register through the official campaign page. Eligible users will receive these tokens directly in their wallets once the game officially launches.

Inspired by games like Fall Guys and Stumble Guys, Pudgy Party is a fast-paced multiplayer competition created in collaboration with Mythical Games. In particular, players can receive blockchain-based rewards during play.

Pudgy Penguins Project Expansion

The launch of Pudgy Party marks a major shift for Pudgy Penguins, which was previously a collection of Ethereum (ETH) based NFTs. In the past 12 months, the project has expanded into physical toys and even retail distribution through well-known stores like Walmart.

This is not the first time Pudgy Penguins has ventured into SBT. On the first anniversary of its NFT collection, it introduced the “truePengu” token to its holders. In 2023, the project also collaborated with Sotheby’s, issuing SBTs for authentication and participation in one of the auction house’s auctions.

This comes after Nasdaq-listed BTCS Inc. added three NFT Pudgy Penguins to their coffers. This move shows institutional confidence in the long-term value of the brand.

Furthermore, this move also shows that the project is eyeing significant revenue growth, with CEO Luca Netz projecting revenue of $50 million this year alone.

Netz also revealed plans for an Initial Public Offering (IPO) in 2027, with hopes of going public as soon as 2026.

PENGU price struggles despite momentum

This launch shows a new move to increase the utility of their native token. PENGU’s price has been consolidating in recent days. On August 26, the token was down by 2.12%.

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Technical indicators point to bearish momentum as the PENGU price recently fell below an important support level at $0.03146. The 9% correction in Ethereum also impacted the value of NFTs. Pudgy Penguins’ NFT floor price fell by 17% as a result.

However, it should be noted that PENGU’s price reached an all-time record high of $0.0455 last month. It also surpassed DOGE in trading volume on Korea’s Upbit exchange.

This milestone highlights the growing enthusiasm of retailers, despite profit-taking impacting short-term performance.

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Reference:

• Coingape. Pudgy Penguins Launches Utility-Driven Soulbound Tokens as Pengu Price Stalls. Accessed on August 27, 2025
• The Defiant. Soulbound Tokens Come Into Their Own With Pudgy Penguins Move. Accessed on August 27, 2025