Pudgy Penguins Release Soulbound Token
Pudgy Penguins have released a soulbound token according to a recent tweet.
Soulbound tokens cannot be transferred, bought, or sold and will forever be bound to the wallet it is currently in.
The tokens, known as "penguPins," was airdropped to holders who licensed their Pudgy Penguins NFT to be used in the team's physical toy deal with PMI Toys.
The team believes that soulbound tokens are here to stay and are a key component for the future of Web 3 that "allows users to publicly quantify their impact and involvement within our community."
Pudgy Penguins also hinted at this just being the beginning of its commitment to soulbound tokens as the team wants to continually find relevant use-cases for them within the NFT and crypto space.
The current floor price of a Pudgy Penguins NFT is 2.90 ETH according to the Lucky Trader Project Rankings.