Pudgy Penguins NFT collection sells for $2.5m

April 4, 2022

By Sharan Kaur Phillora

Prices of Pudgy Penguins non-fungible tokens (NFTs) collection recovered as the community got a new leader and were sold at 750 ETH ($2.5 million). They now trade at 2.85 ETH on marketplace OpenSea, and 2.98 ETH on LooksRare after hovering around 1 ETH for most of March.

Here’s what we know:

The agreement comes after the Pudgy Penguins’ founding team was removed in a controversial Discord vote in January. Holders of Penguins NFTs have been waiting for word on the project’s uncertain future ever since. This deal’s taken way longer than I thought,” said Netz, when a preliminary deal was struck between Netz and the prior founding team.

Entrepreneur Luca Netz, best known for operating 5.3 million-follower Instagram merch account Supreme Patty, reportedly purchased the project for 750 ETH (US$2.5 million), after the community ousted the founders in January. 

Netz planned to officially announce the sale’s close on social media late Saturday, adding that the transaction was “100% not an April Fool’s joke,” therefore his choice to wait until after April 1st to go public. “Everything is aligned to make this one of the most prominent projects of all time,” Netz added, declining to comment on specific roadmap items but implying at least one retail partnership.

Almost 700 ETH (US$2.45 million) worth of Pudgy Penguin NFTs have been traded in LooksRare and OpenSea in the past 24 hours, after recording US$1.82 million worth of sales in the entire month of March, according to CryptoSlam data.  

 


About the author

Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.

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