Pudgy Penguins: Ice Cold Execution
Pudgy Penguins, under the leadership of Luca Netz, has become one of crypto’s major success stories. A new token and a closely associated L2 launch in "Abstract" provide more opportunities in the Pudgyverse
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TLDR
- Pudgy Penguins, launched in 2021 gained huge popularity initially but then faced severe setbacks due to controversies involving the initial founder, damaging the project’s image.
- Luca Netz acquired Pudgy Penguins in April 2022 for 750 ETH ($2.5M), revitalizing the project with a community-driven approach, focused marketing strategy, and ambitious plans to expand beyond the crypto realm.
- Pudgy Penguins toys are now sold in over 10,000 stores, including Walmart and Target, with over 1.5M units sold. The Penguins have taken over social media, with 1.7M Instagram followers, 552K TikTok followers, 603K Twitter followers, and 146K Discord members.
- The $PENGU token launch included a widespread airdrop, rewarding loyal holders and attracting new users. Utility includes governance, staking rewards, and exclusive perks.
- We consider the $PENGU token's potential in the current market environment.
