Pudgy Penguins NFTs on Ethereum (ETH) blockchain made a lot of crypto enthusiasts lose their cool this Tuesday afternoon. It appears that Pudgy Penguin #6873 was sold for a colossal 400 Ethereum (ETH), which converts to $630,780. This marks a breakthrough for the chubby penguins, as it’s 4027.97% more than anything the Penguins managed to sell in the past 7 days.
NFT Enthusiasts Feel Flabbergasted
The success of the Pudgy Penguin NFT is shocking to many, especially those who know the backstory. The Pudgies started their Web3 journey in 2021, but had a crisis at the beginning of 2022, when CEO Cole Villemain went on to bribe a couple of team members, failed to deliver on promises, and plotted a rug pull. However, the community managed to stop him by wrapping their NFTs, so that Villemain wouldn’t receive any more royalties.
He stepped down soon after when Luca Netz bought the Pudgy Penguins NFT collection for $2.5M. Ever since then, the thick-bodied penguins have worked their tails off to get back to prospering ways. This is confirmed by Mr. Netz, the new CEO of Pudgy Penguins NFT: “We’ve been working our tail off for the last 6 months and I feel like it’s finally getting noticed.”
The Greatest Comeback Story?
The Pudgy Penguins NFT has definitely left an impression on some members of the crypto community, with DoubleQ, the founder of DoubleStudios, calling it “the greatest comeback story.” Indeed, shooting up by 400% in a brutal bear market is quite the achievement for the plus-size penguins.
1/ Pudgy Penguins floor shoot up 400% in one of the worst NFT bear market.— doubleQ (@xDoubleQ) August 21, 2022
The greatest comeback story. Here's how it happens 🧵
However, the expansion plans are not limited to Web3. The new CEO, Mr. Netz, also announced plans to release a physical children’s book and some plush toys. On top of that, the new partnership with Non-Fungible Films might result in the first-ever Pudgy Penguin flick on the big screen. This comes just 4 days after the company opened its native marketplace.
At the end of the day, a strong team does it all. Last Friday, the Pudgy Penguins NFT announced the addition of Jordan Sterlin, who is partnered with Mark Zuckerberg’s Meta. Pudgy Penguins Advisory Board is something other NFT heavyweights need to look out for, as the newly formed board members also include former employees of well-known blockchain names Roofstock, Nansen, and most established chain retail brands like Nike and Starbucks. Ultimately, all of them are “coming from diverse backgrounds in Web2 and Web3” to provide fans of the pudgies an unforgettable experience.
Introducing the Pudgy Penguins Advisory Board!— Pudgy Penguins (@pudgypenguins) August 21, 2022
Coming from diverse backgrounds in Web2 and Web3, our board will assist in our pursuit to innovate through multiple industries.
We’re excited to build alongside these strategic advisors to push our brand to new heights. pic.twitter.com/1s0hx5pzB6
On the Flipside
- The NFT market is still in a bearish mood, as BendDAO ran out of liquidity yesterday. The situation caused a sell-off of over 200 Bored Apes NFT in an auction. As the Bored Apes Yacht Club is the most expensive NFT collection, this could result in a domino effect.
Why You Should Care
Quadruple surges rarely happen in a vindictive bear market. The Pudgy Penguin NFT collection made waves in the NFT sector at the same time that Bored Apes NFT is battling all-time lows.
Learn about another prominent NFT sale:
The Gold Fur Bored Ape for 777 ETH