Pudgy Penguins NFT Project Proves Web3 Twist Is Possible

Pudgy Penguins ( Pudgy Penguins ) is anNFT project that showcases cute and chubby birds. Since its launch in July 2021, the project has had its ups and downs. The founders failed to follow the project's roadmap and faced accusations of mismanagement of funds, leading to a community vote in January 2022 to remove them. However, a community member named Luca Netz bought the brand for $2.5 million, promising to improve communication and grow the brand further. The new team is focused on expanding the project's intellectual property , creating penguin NFT-based toys, and releasing a children's book. The project gained momentum, sales increased and prices rose. In May 2023, the team announced the completion of $9 million in financing, released the promised toys, and launched Pudgy World , which connects real toy purchases with the digital world. The project gained legitimacy by joining NFT lending platform Blend . The project's success can be attributed to the team's transparency, regular updates, and community engagement.