Pudgy Penguins is a collection of 8,888 unique NFT avatars launched in July 2021. Initially priced at 0.03 ETH, the collection gained significant popularity, featuring on the cover of the New York Times and witnessing a peak floor price exceeding $6,000. However, community unrest led to the removal of its founder, Cole Villemain, in early 2022, resulting in a shift in leadership when Luca Netz acquired the project for $2.5 million. Under new management, Pudgy Penguins expanded beyond digital collectibles by launching Pudgy Toys, which became a successful retail brand, generating over $10 million in sales within a year. In late 2024, an ecosystem token named PENGU was introduced on the Solana blockchain, further connecting the brand with its NFT holders. The Pudgy ecosystem also includes companion collections like Lil Pudgys and Pudgy Rods. Future plans aim to develop a gaming universe and further brand collaborations, positioning Pudgy Penguins at the forefront of the Web3 landscape.

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