The Pudgy Penguins are pumping.
First launched back in June 2021, the Ethereum NFT collection often referred to as the âPudgysâ is starting to see some of its long-term efforts pay off. The minimum purchase price, or floor price, for a Pudgy Penguin PFP NFT has spiked 83% in the past two weeks and 69% over the past month, according to data from NFTPriceFloor.
âWeâve been working our tail off for the last 6 months and I feel like itâs finally getting noticed,â Luca Netz, Pudgy Penguins CEO, told Decrypt.
To expand its brand presence, the collection has had plans for physical plush toys and a childrenâs book for a while. But the results of Netzâs work are starting to materialize.Â
âWeâre announcing our childrenâs book partnership this week as well as an announcement regarding our partnership with Non-Fungible Films to help bring Pudgys to life,â he said.
Earlier this month, the NFT collection announced the specific Penguin PFPs chosen for its line of âPudgy Toysâ and launched its own marketplace for Pudgy NFTs.
But there wonât just be plush toysâNetz said the upcoming toy line will be âdiverse.â
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, Hasbroâs 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.
âStoked for the pengs!â he wrote on Twitter of the massive sale.
Things havenât always been peachy for the Penguins. Earlier this year, the collection was on thin ice when some community members denounced former CEO Cole âColeThereumâ Villemain, claiming he failed to make good on promises, bribed a former moderator, and ârugpulledâ his community with the release of some fishing pole NFTs (Cole has denied the bribery claims).
When some Pudgy holders called for Coleâs departureâand âwrappedâ their Penguins to prevent him from getting further royaltiesâNFT 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.Â
âEveryone is locking down and being frugal during the bear market,â Netz said of the past six months since he began spearheading the collection.Â
âFor us, this is a perfect moment to capture attention and to show people what weâre about.â
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