NFT Project Pudgy Penguins Raises $9M

The fundraise comes after a leadership change that led to an increased focus on utilizing the intellectual property.

Non-fungible token (NFT) collection Pudgy Penguins has announced the completion of its $9 million seed funding round led by 1kx. The company plans to use the new capital to scale its intellectual property and team.

The funding round comes over a year after the Pudgy Penguins projectvoted out its foundersfor allegedly draining treasury funds and failing to meet community goals. In April 2022, entrepreneur Luca Schnetzler (Netz) bought the Pudgy Penguins rights for $2.5 million with a promise to build out the brand, which soon involved licensing deals and social media campaigns, pushing the NFTs toan all-time high floor pricelast December. Pudge Penguins has evolved to include live events, new ways for owners to monetize and utilize their tokens and physical goods bearing the IP including books and toys.

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“We are thrilled to be able to continue the strong momentum we’ve built over the last year, even in a bear market,” said Pudgy Penguins head of investor relations Vi Powils in the press release. “Today’s milestone is a testament to the vision of our strategic partners, who recognized that Pudgy Penguins is not only a Web3 brand for crypto-natives, but also an accessible IP for everyday consumers around the world, as well as our incredibly talented team.”

Other investors in the round included Big Brain Holdings, Kronos Research, the founders of LayerZero Labs, Old Fashion Research, and CRIT Ventures.

Beautiful Worlds

Welcome to the ‘Beautiful worlds’ where nature and technology have merged into a single entity. These are Ai generated and hand finished visions of solarpunk future in which I would really like our future generations to live and prosper: the future we might have if we took the very “alternative route” which now lies before us: replacing states and corporations which free federations of communities and cooperatives, using decentralist and ecological technologies to create a world beyond economic scarcity and social hierarchy, defined by autonomy, mutual aid, diversity, and inclusiveness. The long-term goals of solarpunk are freedom and well-being for all by adopting and developing such ecological technologies as: solar, wind, wave and geothermal energy rather than oil or gas to generate electricity; a world of decentralized eco-cities, permaculture and vertical farming, free and open-source software, open-source hardware, small-scale fabrication laboratories, micro-manufacturing, 3D-printing, and countless examples of commons-based peer-production online: meeting the maximum amount of needs, in the shortest time, using the minimum possible amount of energy. It’s a world of decentralized and confederated eco-communities, using technology for human-centric and eco-centric ends rather than for accumulating power and profit – mending the metabolic rift between first nature (the natural world) and second nature (human culture) – and where social hierarchies of race, gender, sexuality, and disability are considered horror stories from the past “oil age”. Solarpunk desires societies of polycultural ethnic diversity and gender liberation, where each person is able to actualize themselves in societal environment of free experimentation and communal caring; This philosophy proposes that in order for the social and natural worlds to reconcile, humans must first transform their relations to each other – recreating society along egalitarian, cooperative, and democratic lines – and then transform their relations towards nature – adopting an attitude to cooperation, rather than domination, towards the planet and its nonhuman forms of life. Text by Connor Owens. This artwork took me a year to create and for you it will take a year to discover. Master autonomously updates once a day at 12am with one of 366 original artworks. Enjoy!

10/05/2023 NFT Project Pudgy Penguins Raises $9M

The fundraise comes after a leadership change that led to an increased focus on utilizing the intellectual property.