Netz Capital Purchases Pudgy Penguins Ethereum NFT Collection For $2.5 Million

Netz Capital Purchases Pudgy Penguins Ethereum NFT Collection For $2.5 Million

  • ColdPizza publicly challenged ColeThereum’s leadership.
  • The collection of Pudgy Penguins has a checkered history.

A total of 8,888 Ethereum NFTs belonging to the Pudgy Penguins collection have been sold for $2.5 million to Netz Capital’s Luca Netz, who is now in charge of the project and will receive all future royalties. The Pudgy Penguins NFT is an example of a unique blockchain token representing ownership of an asset, in this instance, a picture of a penguin. NFTs like this are becoming more popular.

Netz stated, “Looking forward to spreading love across the Meta in a statement released on Saturday.” Founder Cole Villemain, also known as “ColeThereum,” was just booted from the project by a majority vote. Others have voiced concerns, noting that Netz was not well-known in the Penguins community before the transaction. Despite this, many Penguins fans are excited about the deal.

Checkered History

The collection of Pudgy Penguins has a checkered history. When ColdPizza—formerly known as 0xDarth—was elevated to the community manager position on December 11th, he announced publicly that he was leaving the project because he and the project couldn’t agree on work conditions, including remuneration.

During a Twitter Space with 3,000 listeners, ColdPizza publicly challenged ColeThereum’s leadership, claiming that Cole paid him 1 ETH ($3,500 at the time of publishing) to keep quiet about the Pudgy Penguins project. It was originally reported that Pudgy Penguins Whale 9x9x9 blasted Cole’s leadership in a long Twitter thread, claiming that the project was a “sinking ship” and they weren’t interested in purchasing the collection for 888 Ethereum since the wallet was empty.

A new Pudgy Presents companion collection was unveiled on Christmas Day, and some Penguins fans were not happy about it. The eggs that hatched into fishing rods were first referred to as “rogs,” which many on Twitter have exploited as a pun for “rug” and “rugged.”

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