# @benzinga on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/DDqJ0M_IKar
- **Gondola URL:** https://gondola.cc/posts/25506666-benzinga-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/thumbnails/a580e45bac.jpg
- **Posted:** 2024-12-17T00:02:45.000+00:00
- **Account Owner:** Benzinga | News That Moves (@benzinga) — https://gondola.cc/benzinga

## Caption

Pudgy Penguins is one of the most well-known NFT collections worldwide, and the floor price recently surpassed the $100,000 level as optimism builds for the launch of the $PENGU token. The takeover of the company and collection by Luca Netz in 2022 will go down as one of the biggest NFT storylines of all time.

Pudgy Penguins is a collection of 8,888 NFTs offering “good vibes” and “positivity for everyone.” The collection was minted on July 22, 2021, at a price of 0.03 Ethereum each.

In April 2022, entrepreneur Luca Netz bought Pudgy Penguins assets, the brand, company and more for 750 Ethereum, or around $2.5 million at the time.
The floor price jumped from a range of 0.7 ETH to 1.4 ETH to 2.5 ETH and beyond after Netz made the purchase. Optimism quickly spread, and the project appeared resurrected and brought back to life.

Since taking over, Netz has pushed Pudgy Penguins further and evolved the brand into Igloo Inc, which includes several other projects. He has also pushed the company into consumer products, a strategy that has benefitted holders who can collect licensing royalties.

Pudgy Penguins recently announced the launch of the $PENGU token, which has led to a spike in the floor price, as holders will receive a portion of the new token.

Investing $1,000 in Pudgy Penguins: A $1,000 investment at the time could have purchased around 11 Pudgy Penguins. Since the mint, that would have also turned into 11 Lil Pudgys and 11 Pudgy Rods.

Here are the current floor prices of the three assets:
- Pudgy Penguins: 27.4 ETH, $106,783.83
- Lil Pudgy: 3.477 ETH, $13,614.09
- Pudgy Rods: 1.7949 ETH, $6,995.12

Here is a look at what the $1,000 investment and owning 11 Pudgy Penguins would be worth at the time of writing:
- 11 Pudgy Penguins: $1,174,622.13
- 11 Lil Pudgys: $149,754.99
- 11 Pudgy Rods: $76,946.32
- Total: $1,401,323.44

That’s right, a $1,000 investment in cute Penguin NFTs would now be worth more than $1.4 million three and a half years later.

#nft #pudgypenguins

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## Tags

nft, pudgypenguins

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