The Reality of the Current NFT Paradigm
The Web3 world has been a wild ride in the last two years. As crypto gained mainstream attention, millions of people had the chance to get their first taste of NFTs. Despite this huge initial increase in popularity, and even as NFTs continue to gain traction today, there remains one major hurdle to overcome.
Ethereum is an ideal base chain for preserving your NFT’s provenance over time. Ethereum introduced a novel decentralized technology, a robust community, and strong social consensus—all the ingredients required for the recipe of a network that will stand the test of time. However, Ethereum mainnet’s user experience is not as friendly as it could be for people new to the technology.
We’re building for the future: Starting with amplifying the current Web3 landscape and setting ourselves up for the next one.
Our endgame as Pudgy Penguins is to build a household brand that hundreds of millions recognize through our cultural resonance and mass appeal. To achieve that, we’re focused on building for the next paradigm of Web3. The first step towards that vision is to make Pudgy assets readily available for as many Web3 users as possible.
Ease of Access
There are two big aspects of improving accessibility to the Pudgy Penguins brand and Web3 as a whole. To start, it must be easy for the next wave of users, that are in the hundreds of millions, to interact and become a part of the Pudgy Penguins ecosystem. The second aspect is enabling these users to become a part of our ecosystem without having to worry about the huge gas fees. With less than two million transactions a day, gas fees can shoot up 1,000% or more as they historically have. The current infrastructure simply can’t handle a huge influx of users.
Pudgy Penguins can have the best of both worlds
Thanks to cross-chain technology, Pudgy Penguins can get the best of both worlds: provenance and user experience. With that being said, we’re excited to announce that we have partnered with LayerZero to make this happen.
Cross-Chain Lil Pudgys with LayerZero
LayerZero is an omnichain interoperability protocol that makes going cross-chain possible. Within the LayerZero team are an avid group of Wizard Hat Pudgy Penguins that our Penguineering team worked with to make the bridge happen. Using LayerZero’s omnichain technology, Lil Pudgys can now travel seamlessly between multiple chains, starting off with Polygon, BNB Smart Chain, and Arbitrum. We’ve selected these three chains due to their rapidly growing usage and exposure.
Polygon has shown excellent business development through their integration with Instagram, Reddit, and Robinhood, demonstrating an extraordinary ability to attract a new wave of users to become a part of the Web3 community.
Instagram plans to integrate NFTs directly, and they’re using Polygon to make it happen. This opens future opportunities like buying Lil Pudgys from the Instagram app with a credit card, becoming readily available to those outside of Web3.
Robinhood has offered millions of Americans access to financial markets. Through their in-app Polygon wallet and seamless USDC conversion offering, Robinhood allows people with no blockchain knowledge to interact with their first NFT on Polygon—like the Lil Pudgys!
Binance Smart Chain
BNB Smart Chain (BSC) has a tremendous presence in areas where Ethereum gas fees remain prohibitive: East & South Asia and Middle East & North Africa. BSC has offered many developing countries the chance to become a part of the crypto ecosystem. Being a brand that strives for maximum inclusivity to the space, we’re happy to participate in this process and allow an even wider audience to have access to Lil Pudgys.
Arbitrum is an Ethereum layer 2 scaling chain that has managed to draw in DeFi-native projects such as exchanges GMX and Premia. Having managed to keep a large part of its total-value-locked (TVL) over the course of the crypto bear market, Arbitrum seems to be a promising choice for DeFi development. For Lil Pudgys, this is an opportunity to appeal to the wider culture that first made the Pudgy Penguins community what it is.
The Penguineering team is utilizing the brand new soulTransport technology to programmatically issue soulbound tokens to bridgers. Three distinct soulbound tokens will be issued, one unique to each chain. Based on the chain you bridge to from Ethereum mainnet, you will receive a corresponding commemorative token as a souvenir that will never leave your wallet.
There can only be one unique bridge soulbound token per wallet (therefore, three maximum), and each Lil Pudgy token ID will be ticked off from eligibility once it has been bridged over. Bridgers can expect to receive their SBT within 5 minutes of bridging.
By enabling the Lil Pudgys to go cross-chain, we’re setting up the Pudgy Penguins ecosystem to reach millions of people. This is just the start of our efforts to expand and distribute the reach of Pudgy Penguins IP, and we’ll always be looking for new ways to do this. By expanding our horizons to more blockchains, we open up possibilities of working with various businesses that work on those chains.
For now, just the Lil Pudgys will be able to travel between chains. But in the future, that might not always be the case. Embark on the Lil Pudgys’ journey of preparing for the large growth of Web3 participants in the near future.
Learn how to bridge below.
Click HERE to Bridge.
Lil Pudgys are available on Polygon, BSC and Arbitrum at the uniform token address : 0x611747CC4576aAb44f602a65dF3557150C214493
Reminder: Don't overload the portal! Our sources from Lils that have gone through, say there's a maximum of 25 of your little friends you can put through in one transaction.
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To join the huddle, get a Pudgy Penguin or Lil Pudgy on OpenSea!