Play Solana has partnered with NFT project Pudgy Penguins to release a limited edition gaming console, the PSG1 Gameboy.
The core feature involves a buy-and-burn mechanism for the PENGU token: each PSG1 console sale triggers an automatic purchase and permanent removal of PENGU tokens from circulation. This strategy is designed to enhance token scarcity and support long-term value growth for holders, while also aiming to stabilize PENGU’s market dynamics.
Recent market activity shows a significant 500% price surge for the PENGU token, which climbed from $0.0077 to a high of $0.0466. It has since retraced, stabilizing near $0.0398.
This launch represents a significant step in Pudgy Penguins’ ongoing expansion into interactive Web3 experiences, complementing existing ventures like the skill-based mobile game Pengu Clash and other cultural initiatives. The move demonstrates the brand’s strategy to evolve beyond its origins as a traditional NFT collection.