The Pudgy Penguins NFT collection which contains 8,888 Ethereum NFTs was sold for 750 ETH or $2.5 million to Netz Capital’s Luca Netz. Along with the deal, Netz will receive all upcoming royalties from the sale on the secondary marketplace.
With the passage of time, the NFT concept is gaining traction among a growing number of people. The name ‘Pudgy Penguins’ will be added to the list of the top NFT collection.
Along with Netz, a group led by Pudgy Penguins holder, his collaborator Cameron Moulene and several stakeholders will also gain control of the project. The acquisition enables them to launch the token, airdrop, and other alluring concepts regarding the future of the project.
“Looking forward to spreading love across the Meta” Netz spoke on the acquisition of the collection.
The move came just after the termination of the controversial one of four founders Cole Villemain through the voting, also known as “ColeThereum”. In January, Netz proposed an offer of 750 ETH to the project founder and asked him to “Make your move ColeThereum.”
ColeThereum confirmed that he and the other three founders no longer hold ownership of the project. “The original team wanted to see our creation go to the next level and we felt Luca had the connections and experience to do that” Cole stated in an interview.
However, the history associated with the Pudgy Penguins collection has always been a controversial topic. In December, a community moderator “ColdPizza” publicly announced his exit from the project after being promoted to the manager position without any agreement.
ColdPizza put an allegation on ColeThereum’s leadership over the Pudgy Penguins collection. He allegedly stated that Cole offered him 1 ETH bribe to keep further information confidential about the project.
“I have never and would never bribe anyone” Cole said in response to the allegation. “We let go of one of our staff members and I offered a 1 Ethereum bonus for being helpful to the project. It was taken out of context and false rumors spread.”
Since the launch in July 2021, the Pudgy Penguins has been continuously rolling up the stairs to place itself as a top NFT collection. At the time of writing, the total traded volume reflected on Opensea is over 50K ETH with 2.98 ETH floor price.
On Friday, the floor price was boosted after 29 Pudgy Penguins NFTs from the collection sold for 68.2852 ETH.
After finding the new founder for the project, rumors say that the project is soon going to be equipped with a $PENGU token following the footsteps of BAYC collection to grow its ecosystem in an exponential manner. However, there is no strong evidence found behind this rumor.
Recently, The top NFT collection Bored Ape Yacht Club announced the launch of its own native coin ‘ApeCoin’ to enhance and grow the Ape ecosystem for Web 3.0.
