Single Penguin NFT Sells for 400ETH Totalling $630,780 | Pudgy Penguins Ethereum Collection Pump 83%

1 min read

Never heard of Pudgy Penguins? Your not alone, but now they’re ‘everywhere’. Ethereum based NFT collection referred simply as the “Pudgys” is now seeing its long-term efforts pay off. The minimum purchase for a single Pudgy Pengquin has pumped 83% and over 69% in the last month according to data from NFTPriceFloor. A single Pudgy Penquin, number 6873 was purchased for 400TH totalling over USD$630,780.

“We’ve been working our tail off for the last 6 months and I feel like it’s finally getting noticed,” Luca Netz, Pudgy Penguins CEO, told Decrypt.

To expand its brand presence, the collection has had plans for physical plush toys and a children’s book for a while. But the results of Netz’s work are starting to materialize. 

“We’re announcing our children’s book partnership this week as well as an announcement regarding our partnership with Non-Fungible Films to help bring Pudgys to life,” he said.

Earlier this month, the NFT collection announced the specific Penguin PFPs chosen for its line of “Pudgy Toys” and launched its own marketplace for Pudgy NFTs.

But there won’t just be plush toys—Netz said the upcoming toy line will be “diverse.”

On Sunday, the collection continued its hot streak by announcing its new nine-member advisory board of executives and tech industry heavyweights, including Nansen CEO Alex Svanevik, COO of Saks Fifth Avenue RJ Cilley, Hasbro’s head of licensing Jess Richardson, and Jordan Sterling, who works on Meta’s partnerships team.

A day after the advisory board announcement, the rarest Penguin in the collection sold Monday for an eye-watering 400 ETH, which is roughly $630,000.

Yuga Labs and Bored Ape Yacht Club co-founder Greg Solano chimed in on the news with words of support.

“Stoked for the pengs!” he wrote on Twitter of the massive sale.

Things haven’t always been peachy for the Penguins. Earlier this year, the collection was on thin ice when some community members denounced former CEO Cole “ColeThereum” Villemain, claiming he failed to make good on promises, bribed a former moderator, and “rugpulled” his community with the release of some fishing pole NFTs (Cole has denied the bribery claims).

When some Pudgy holders called for Cole’s departure—and “wrapped” their Penguins to prevent him from getting further royalties—NFT enthusiast Luca Netz came to the rescue. Netz purchased the collection for a cool $2.5 million in April, taking over from Cole, and things appear to have been running smoothly since. 

“Everyone is locking down and being frugal during the bear market,” Netz said of the past six months since he began spearheading the collection. 

“For us, this is a perfect moment to capture attention and to show people what we’re about.”

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