PENGU Token Takes Hit as Pudgy Party Launches Amidst NFT Slump

Despite a top-ten App Store debut and strong downloads for the new game ‘Pudgy Party,’ PENGU token experienced a dip of nearly 4% on Monday. The broader NFT market is experiencing weakness, reflecting a decline in several blue-chip collections like Bored Ape Yacht Club and Doodles. The launch of ‘Pudgy Party,’ a mobile game developed by Mythical Games, marks an expansion for the popular Pudgy Penguins NFT brand into mainstream entertainment, offering play-to-earn opportunities and integrating the PENGU token economy.