Pudgy Penguins, the NFT project, has announced a new partnership with Suplay Inc, a web3 infrastructure platform with a focus on building tools for digital commerce and web3 rewards.
The partnership is another step forward in Pudgy Penguins’ bid to break out of NFTs and into more heterogeneous blockchain ecosystems.
Although the exact nature of the partnership has not been released yet, Suplay Inc specializes in enabling web3 projects to drive on-chain activities. Pudgy Penguins’ decision to collaborate with them might imply new features related to digital goods, merchandise support, or access based on tokens.
PENGU sees a price jump
Along with the announcement, the native token of the project, PENGU, also rise in value increasing more than 21% over the last 24 hours to approximately $0.03345.
Pudgy Penguins has already collaborated with Walmart to introduce physical toys into retail locations and has worked with LayerZero Labs to implement cross-chain NFT support. Such collaborations made a strategy to merge real-world brand awareness with web3 infrastructure.
The launch of the PENGU token followed earlier airdrops and community campaigns which was expanding utility around the brand. Although the full scope of the token’s use is still developing, recent moves suggest the team is laying foundations for better integration and participation.
While sentiment is divided in much of the NFT and altcoin ecosystem, Pudgy Penguins continues to advance with ecosystem partnerships. The Suplay Inc agreement is the latest indicator that well-branded projects are seeking to create longer-term utility for their tokens.
Also Read: Altcoin (ALT) Price Dump: Here’s What Sent it Crashing Down
