Pudgy Penguins Adds $9M in Funding
Pudgy Penguins announced a $9 million seed round raise that will help scale its team and IP in a funding round led by 1KX. The news was first reported by CoinDesk.
❗️Why It Matters
Put simply, while many projects are running out of funds Pudgy Penguins has importantly added funds to its warchest. The project cemented itself as one of the leading web3 brands over the course of the last year and an infusion of capital should only bolster its potential impact and IP expansion moving forward.
📊 By the Numbers
Pudgy Penguins is one of the lone NFT projects that has increased its floor price in the last year, growing since the takeover of the newest team headed by Luca Netz. The project is up more than 200 percent in the last year.
🎬 Take Action
Listen to the team discuss the raise and answer questions during the Pudgy Penguins Seed Round Twitter Spaces at 4:30 p.m. ET.
🎤 Founder Feedback
Hey everyone I'm proud to announce our recent seed round, led by 1kx. We spent many months finding the right partners that were aligned with our vision and the interests of the community, and I'm glad to say that I believe we found the perfect partners to help take us to the new frontier. For the last year, we faced endless adversity, but together, we huddled and persevered in the toughest of times. The path to being the face of NFTs and #1 in the space won't be easy, but it will get done. Our only disadvantage up until this point had been our lack of capitalization, and today, I'm proud to say that we have evened the playing field. I hope you're ready...it's #PenguSzn.Luca Netz