Pudgy Penguins NFT Collection Has Been Sold With $2.5M Sale

The Pudgy Penguins NFT project has a new leader following the successful completion of a long-awaited 750 ETH ($2.5 million) sale. A group led by Pudgy Penguins holder and Los Angeles-based entrepreneur Luca Netz will buy control of the project, along with royalties, from the original four co-founders of the project, according to people involved with the deal.

Netz, along with his collaborator Cameron Moulène and several other stakeholders, will be the new leader of “The Huddle.” Control of the project will allow the buyers’ group to issue a token and execute airdrops to other NFT series holders, among other things.

The agreement comes after the Pudgy Penguins’ founding team was removed in a controversial Discord vote in January. Holders of Penguins NFTs have been waiting for word on the project’s uncertain future ever since. This deal’s taken way longer than I thought,” said Netz, when a preliminary deal was struck between Netz and the prior founding team.

Pudgy Penguins NFT OpenSea trading spiked on Friday as deal closing rumours swirled. After trading ranged between 0.7 and 1.4 ETH in recent weeks, the floor price of a Pudgy Penguin soared as high as 2.5 ETH. The cheapest penguin available at the time of writing was priced at 2.2 ETH.

Netz planned to officially announce the sale’s close on social media late Saturday, adding that the transaction was “100% not an April Fool’s joke,” therefore his choice to wait until after April 1st to go public. “Everything is aligned to make this one of the most prominent projects of all time,” Netz added, declining to comment on specific roadmap items but implying at least one retail partnership.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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