Digital artist Jack Butcher, renowned for creating popular non-fungible token (NFT) collections such as “Opepen Edition” and “Checks VV Edition”, has hinted at a forthcoming collection in collaboration with Pudgy Penguins.
Jack Butcher x Pudgy Penguins collection
The new partnership was teased in an August 6 tweet, causing considerable buzz in the cryptocurrency community. The forthcoming collection is expected to display traceable traits from both Opepen Edition and Pudgy Penguins.
Rise to fame
Jack Butcher’s rise to fame was prompted by the launch of his innovative NFT projects, “Opepen Edition” and “Check VV Edition,” earlier this year. The Opepen Edition, a collection of 16,000 ERC-721 NFTs hosted on the Ethereum network, gained particular attention for its changing geometric shapes.
“Checks VV Edition”, released in the same period, includes another unique series of 16,031 NFTs, also hosted on the Ethereum network. Despite both collections launching simultaneously, Opepen Edition has garnered significant attention, emerging as the flagship NFT collection and attracting a broad array of investors.
Opepen Edition’s success has not only been financial. The collection has also sparked a viral trend on crypto Twitter in recent weeks, a factor that has contributed to increased engagement and a rise in NFT prices. This trend started in June, when the top holder of Opepen NFTs, pseudonymous influencer Bored Elon, offered to trade an early-minted NFT from the collection to Michael “ThreadGuy.”
ThreadGuy’s public interest in switching his Twitter profile picture from a Mutant Ape Yacht Club NFT to an Opepen led Butcher to gift him a new NFT collection, “ThreadEdition NFTs.” From that point forward, the Opepen Edition has become synonymous with the “For The Culture” ethos prevalent in the NFT space.
Pudgy Penguins expanding
Pudgy Penguins has been looking to expand its brand with new offerings and collaborations. In May, the web3 native company released its own line of physical toys, which quickly garnered over $500,000 in 48 hours.
The value of Pudgy Penguins experienced a surge in value following the announcement of the new collaboration. This collection of 8,888 unique tokens, each one depicting a distinctive chubby cartoon penguin, saw a price rise of 4.8% in the past 24 hours alone, going from 4.16 ETH to around 4.48 ETH.
Similarly, Butcher’s Opepen Edition NFT collection has seen a substantial uptick in trading sales volume following the same news. In the past 24 hours, the collection has spiked more than 70% of its trading sales volume. The Opepen Edition price has also increased from 0.52 ETH on August 6 to 0.57 ETH on August 7, currently consolidating around 0.54 ETH at the time of writing.
The uptrend in prices suggests that the creators and their respective communities eagerly anticipate the upcoming collaborative collection. As more details emerge, the new collectibles are expected to assume center stage in the growing NFT industry.