Spencer Ventures Acquires 3AC's Pudgy Penguins

Spencer Ventures Acquires 3AC's Pudgy Penguins
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Spencer Ventures announced the acquisition of 48 Pudgy Penguins NFTs from the Stary Night/3AC Collection, purchased via a deal with Sotheby's. 

The Deets

  • Acquisition includes the Pudgy Penguins and Pudgy Rods from the 3AC Collection. 
  • Thesis: revives hope in the NFT community, showcasing the potential of projects.
  • Support: Pudgy Penguin GIF impressions surpass global population count.
  • Support: Pudgy Penguins licensing opportunities with Pudgy Toys and more. 

The Bulk

Spencer Ventures showcased major support for the Pudgy Penguins brand, acquiring 48 Pudgy Penguins and the corresponding Pudgy Rogs from the now infamous Three Arrows Capital NFT collection. 

In the announcement, Spencer indicated that Pudgy Penguins has successfully etched its place in the digital space and has a chance to lead the charge for NFTs in the future. In support of the thesis, the investor indicated the major adoption the Pudgy IP has experienced via impressions globally, particularly through GIFs. He also indcated the potential for licensing opportunites, as evidence by the recent Walmart launch with Pudgy Toys, marks Pudgys as a leader in the space.

📊 By the Numbers

Though no official deal metrics have been shared, Spencer told Blockworks that the group had reached a deal with Sotheby's in the "mid-six figures."

❗Why It Matters

The acquisition underscores the growing confidence in Pudgy Penguins as a leader in the NFT sector. 

🎤 Investor Insights

Quite simply put, Pudgy Penguins seems incredibly well positioned to lead the next cycle in NFTs.Spencer


🔜 What's Next?

Spencer additionally teased something "lil" on the horizon for the Pudgy Penguins community, sharing an image of a Lil Pudgy alongside. 

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