The crypto waves may be rough, but the Pudgy Penguins are riding them with style, proving that even in a bear market, humor and innovation can prevail. About 3 months ago, we covered the NFT collections that thrived in a bear market. The cute penguins earned their honorable spot in the shortlist, at the time the floor was trading at around 5 ETH. Today, they reached a new floor high of 19 ETH. On the other hand, Bored Apes (BAYC) are trading around 25 ETH. Will the cute penguins flip the Bored Ape Yacht Club?
Let’s dive into the cool world of Pudgy Penguins NFTs – where laughter meets success in the ever-changing crypto landscape.
Meet the Pengus
Pudgy Penguins NFTs, hatched in July 2021 on the Ethereum network, are not your average NFTs. With a community lovingly dubbed “Pengus” or members of the “Huddle,” these cute collectibles offer more than just a digital image. Exclusive perks, access to events, experiences, and even the potential for some icy IP licensing opportunities – it’s a Pengu party, and everyone’s invited!
The Ice Breaker
Launching at a cool 0.03 ETH, Pudgy Penguins melted hearts and wallets, selling out in a speedy 20 minutes. But, as life often imitates crypto, the temperature fluctuated. Allegations against the founders, a deviation from the roadmap, and a decline in floor prices – it was an Antarctic rollercoaster.
The Comedy Club Exit
Amidst accusations and drama, founders Villemain and Patterson were voted off the iceberg in January 2022. Enter Luca Netz, the comedian with a plan. Rejecting a buyout offer of 888 ETH, he snatched up Pudgy Penguins for 750 ETH in April 2022. The Netz Wand was now in charge.
Navigating the Icebergs
With Netz at the helm, Pudgy Penguins got a facelift. Social media accounts authenticated, brand colors jazzed up, and mission statements polished – the project was back on track. Netz, with a knack for entrepreneurial wizardry, vowed to dominate the NFT space with innovation, partnerships, and some storytelling magic.
The Lemonade Stand
Rebranding was just the beginning. Netz and his team unveiled big plans, including a Penguin-themed children’s book and IP rights for commercial use. Pengus could now make their NFTs work for them, potentially earning up to $500k annually – talk about a financial ice capade!
The Pudgy Bridge
Why stick to one network when you can waddle across many? The Pudgy Bridge allows users to transfer their Penguin NFTs seamlessly between networks. It’s like a teleportation device, but for adorable digital birds.
Investing in the Cool
In May 2023, Pudgy Penguins raised a whopping $9 million in seed funding, with investors like Big Brain Holdings, Kronos, and Ethersole joining the chilly party. The financial iceberg just got a whole lot bigger.
Pudgy World: Where Ice Meets Dice
But wait, there’s more! Pudgy Penguins are diving into a new adventure – Pudgy World. A social open-world game launching on zkSync in Q1 2024, it brings together NFT holders and physical Pudgy toy owners for a frosty fiesta. Customize your penguins, embark on a story-driven journey, and interact with fellow Pengus. Blockchain meets fun in a game that’s as cool as ice, with no prior blockchain knowledge needed.
Rumors on X are rising that there will be a token created by the Pudgy team which will be airdropped to holders. Similar to the $APE token by Yugalabs to BAYC holders. However, these are just rumors that are spreading like wildfire.
On the other hand, Pudgy holders are enjoying other token airdrops. As an example, the $DYM token will have an airdrop allocation specifically for Pudgy Penguin NFT holders. More of these types of token airdrops will happen in 2024.
Pudgy Penguins Flipping Bored Apes
Will the Pengus Flip the Apes? Only time will tell. If we take it back to 2021, The Bored Apes were hyped and celebrated every time they flipped a larger collection, which ended in flipping the Crypto Punks. Today, the tables have turned, and other collections might flip the Apes.
If we run it back just one year ago, you could trade 1 BAYC for around 8 Pudgy Penguins. Now the floors are awfully close. If you scroll on your X timeline, you’ll find many influencers and holders closely watching “the flippening”
Conclusion: From Icy Depths to Web3 Heights
Pudgy Penguins NFTs have weathered the crypto storm with humor and innovation. Under Netz’s leadership, they’ve survived and thrived, proving that in the crypto seas, laughter truly is the best medicine. So, grab your Pudgy Penguin, buckle up for the frosty ride, and let the crypto comedy continue!
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