Pudgy Penguins sold to Luca Netz for $2.5M
Following recent controversary
Pudgy Penguins, a collection of 8,888 penguins on the Ethereum blockchain that launched in July 2021, is now under new ownership.
On Sunday, the team behind Pudgy Penguins tweeted that the project is now under new management. Luca Netz of Netz Capital purchased the collection for 750 ETH (around $2.5 million.)
Pudgy Penguins @pudgypenguinsThe blizzard has passed, and the snow is settling. The Huddle has shown its resilience. It's time to waddle to the promised land. We’re ready to announce the worst kept secret in Web3. Our next chapter has begun: new team, new roadmap, new heights. Penguins, our time is #NOW 🐧 https://t.co/IqcG697ULW
Now that Netz is the new leader of "the huddle," his team will have complete control over the project as well as its royalties from its four co-founders. This will allow them to launch a token, conduct airdrops to Pudgy Penguin holders, and other rights.
The deal comes just a few months after the project’s holders voted out co-founder Cole Villemain, also known as ColeThereum after he falsely promised a game, a token, an educational book on NFTs, and more to the community.
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