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Pudgy Penguins, the 3rd-largest NFT collection by market cap (~$655M), is launching an official fungible token, PENGU, before year's end.

This makes sense to me. A divisible fungible token is obviously much more accessible (you can buy in with a $1 or less) than one of the 10k indivisible Pudgy NFT collectibles (the floor of which are currently +18 ETH a pop).

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