A Rare Pudgy Penguin NFT 🐧 Sells for 400 ETH, which is $600,000 USD.

I thought the Decentraland piece of land was the last expensive digital purchase.

Yesterday, 23 August 2022, someone surprised the cryptocurrency space by buying a penguin NFT worth 400ETH. Just a simple plain penguin with nothing in it. This leaves you wondering,

• Is the Penguin a steganography? Is it carrying a special key or information?

• Was the transaction a mistake?

• Is a rug pull looming?

• Is the investor stable mentally?

Well, it is what it is. Somebody bought a Penguin for 400 ETH. Who is the buyer?

400 ETH = 653, 955 USD at the time of writing this article. I know, you're thinking of all the land and property you could buy in the real world with that kind of money; and all the vacations you would take especially with inflation and the persistent bear market.

The current owner and buyer of the Pudgy Penguin is #6873, Fudrick Douglas, @KinkyBedBugs, an open supporter and enthusiast of the penguin project.

In a tweet he said,

“I put my money where my mouth is. I’m just 1000% bullish on the @pudgypenguins and @LucaNetz. That’s what it is, and that’s what it will be.”

The NFT in question #6873 is the rarest of the 8,888 NFTs

Was the Purchase of the Pudgy Penguin a Genius Move?

We'll see. Sometimes it's an investor planning a rug pull and other times it is a genuine investor. Furthermore, the price of the Pudgy Penguins has been rising continuously during the past month. The rise is over 83%, and the floor price is now 3.9 ETH.

What Next For The Now Popular Penguins?

Earlier this year, another enthusiast and member of the Pudgy Community bought the entire collection from its founder. He now has 400 ETH in his pockets and extra bucks because the project is doing fairly well. Web3 was not built for penguin, dog or monkey faces, but we all love penguins, don't we?

"Pingu! Pingu! Pingu!" (The old cartoon series).

The floor price of the project is now 3.9 ETH. The project will gradually introduce merchandise, a children's book, physical plush toys and many more. I must say it is a worthy investment.

Would you Buy an NFT for 400 ETH or More?

So many people have taken to social media to share personal views about the 400 ETH Penguin. It is in the midst of an inflation and the economy is resetting itself.

In March 2021, somebody bought a virtual piece of land in Decentraland ($MANA) worth 2m USD at the time. The most expensive piece of land is now $3.5m.

It is a virtual space, why is land so expensive? Even though people are saying Mack Zuckerberg and the Meta is dead, it seems like in the future land will be valuable in the Metaverse. There will be actual billionaires and investors who control the Metaverse, where most people will be spending their time.

Other Digital Assets that Blew Off the Shelf with Prices

Some are collectibles and some are simply pieces of digital land and assets.

• The Ether Rock- $300,000 USD

• Genesis Plot - A plot in Axie Infinity that cost $638,000.

• The Merge NFT by Pak's Artwork- Sold for 91.8 million USD.

Would you buy a digital asset for that much?