TL; DR
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Pudgy Penguins have gone from 4 ETH ($6.6k at the time) to 21.5 ETH ($60.6k today) in the last six months, briefly reversing BAYC’s price this weekend.
Full story
You know that figure of speech in movies?
The one where the nerd shows up at their high school reunion, has suddenly become successful/attractive – and all their classmates are kidding themselves for not paying more attention to them?
Yeah, well, this is kind of like this.
In this case, we are the ignorant classmates and the ugly duckling turned hot and successful giga-Chad is the Pudgy penguins NFT collection.
ICYMI: Pudgy Penguins launched amid the NFT mania of 2021 and did well as markets rose, but lost most of its value when everything started to weaken.
And for whatever reason – in the depths of the bear market — a guy named Luca Netz has made an offer to the makers of Pudgy Penguins to buy the rights to the collection for $2.5 million.
His plan? Grow the brand by creating a range of cuddly toys based on the Pudgy characters.
“Okay, no one cares.”
– us, when we first heard this plan.
And today we stand before you, having been proven absolutely wrong.
Because Luca promptly continued:
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Make the mentioned plush toys
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Get people excited about them
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To win retail placements in Walmarts across America
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Grow the Pudgy brand consistently during the bear market
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Flip Bored Ape Yacht Club in price
That last point is not a typo ☝️
As of this weekend, Pudgy Penguins became short-lived worth more then BAYC.
Going from 4 ETH ($6.6k at the time) to 21.5 ETH ($60.6k today) in the last 6 months.
Bravo, Luca, bravo.