Bored Apes Just Got Dethroned
TL;DR
Pudgy Penguins have gone from 4 ETH ($6.6k at the time), to 21.5 ETH ($60.6k today) in the past 6 months, briefly flipping BAYC in price this weekend.
Full Story
You know that trope in films?
The one where the nerd shows up to their high school reunion, having all of a sudden become successful/attractive — and all their classmates kick themselves for not paying more attention to them?
Yeah, well this is kinda like that.
In this case, we are the ignorant classmates and the ugly-duckling-turned-hot-and-successful-giga-Chad is the Pudgy Penguins NFT collection.
ICYMI: Pudgy Penguins launched amidst the NFT mania of 2021, and did OK while markets were up, but shed most of its value as everything started to weaken.
And for whatever reason — in the depths of the bear market — some kid called Luca Netz made an offer to the creators of Pudgy Penguins to buy the collection’s rights for $2.5M.
His plan? Grow the brand by creating a series of plush toys based on the Pudgy characters.
“Ok, no one’s gonna care about that”
— us, when we first heard this plan.
And today, we stand before you proven abso-lutely wrong.
Because Luca promptly went on to:
Make said plush toys
Get people excited about them
Win retail placements in Walmarts across America
Grow the Pudgy brand consistently throughout the bear market
Flip Bored Ape Yacht Club in price
That last point isn’t a typo ☝️
As of this weekend, Pudgy Penguins, briefly became more valuable than BAYC.
Going from 4 ETH ($6.6k at the time), to 21.5 ETH ($60.6k today) in the past 6 months.
Bravo, Luca, bravo.