The erratic world of Pudgy Penguins has taken yet another turn for the extraordinary. Non-fungible entrepreneur, Luca Netz, has led a consortium of investors in a 750 ETH takeover of the beleaguered NFT collection. That’s a mighty $2.5 million in old money.
Once the darlings of the PFP scene, it hasn’t been plain sailing for the cuddly ice faring creatures. As a result, a rapid fall from grace culminated in a Discord mutiny, ousting the original founders from the project. The following wave of uncertainty has sent token prices crashing and leaving the collection in disarray.
The blizzard has passed, and the snow is settling. The Huddle has shown its resilience. It’s time to waddle to the promised land.
We’re ready to announce the worst kept secret in Web3. Our next chapter has begun: new team, new roadmap, new heights.
— Pudgy Penguins (@pudgypenguins) April 3, 2022
Now however, Luca Netz and Co have turned up to save the day as they plan to steer the good ship Pudgy Penguin to less turbulent waters. So far, despite its early days, the new team have hinted at Penguin-themed physical toys, airdrops and a lucrative retail partnership, as well as the long speculated $PENGU utility token.
Following the news, Pudgy Penguins has seen a resurgence in activity. As a result, recovering from their 0.5 ETH lows, back up to a more respectable 3 ETH (10k) floor. What comes next in the Pudgy Penguins saga is anyone’s guess. The only thing for certain, is that we haven’t heard the last of these Antarctic critters.
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Decentralised human, Explorer, Adventurer.