THE DAILY ENCRYPT

October 3, 2022

Ethereum Based NFT Collection Pudgy Penguins Rockets 83%

The Pudgy Penguins are experiencing big gains, as the most rare NFT in the collection was sold Monday for more than $600,000....
pudgy penguins
Image by The Daily Encrypt

The Pudgy Penguins are experiencing big gains, as the most rare NFT in the collection was sold Monday for more than $600,000. The Pudgy Penguins pump.

The Ethereum collection, often called the “Pudgys”, was launched in June 2021. Some of its long-term efforts are beginning to pay off. According to data from , the minimum purchase price (or floor price) for a Pudgy Penguin NFT has risen by 83% over the past two weeks, and 69% in the last month.

“We’ve been working hard for the past 6 months and it feels like it’s finally being noticed,” Luca Netz (Pudgy Penguins CEO) told Decrypt.

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The brand has been planning to release physical plush toys and a book for children in order to expand its brand reach. The results of Netz’s efforts are beginning to show.

He said, “We’re announcing this week our children’s books partnership as well as an announcement regarding the partnership with non-fungible films to bring Pudgys alive.”

The NFT Collection announced earlier this month the Penguin PFPs that were chosen for its “Pudgy Toys”, and also launched its marketplace to Pudgy NFTs.

Netz stated that the new toys will not be limited to plush toys.

The collection’s hot streak continued on Sunday when it announced its new nine-member advisory Board made up of executives and industry heavyweights.

The rarest Penguin in our collection was sold Monday, a day after the advisory board announcement. It sold Monday for an eye-watering 400ETH (roughly $630,000).

Greg Solano, co-founder of Yuga Labs & Bored Ape Yacht Club, offered support and words of encouragement.

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He tweeted about the huge sale, “Stoked for The Pengs!”

The Penguins have had their ups and downs. The collection was in trouble earlier this year when community members decried former CEO Cole “ColeThereum”. Villemain claimed he had failed to fulfill his promises, bribed an ex-moderator and “rugpulled” his community with some fishing pole NFTs. (Cole denies the claims of bribery).

Luca Netz, a NFT enthusiast, came to his rescue when some Pudgy holders demanded Cole’s resignation. The collection was purchased by Netz for a cool $2.5 million in April. He took over from Cole and it appears that things have been going smoothly ever since.

Netz spoke of the six months that have passed since he started leading the collection.

“This is an ideal moment for us to grab attention and show people who we are.”

Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".
Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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