Pudgy Penguins aims to achieve a revenue target of 50 million dollars this year. The CEO predicts that the NFT market will revive?

Will the NFT market see a resurgence of its former glory? Luca Netz, CEO of Pudgy Penguins (, believes the answer is yes. In an interview with Blockworks, Netz pointed out that the NFT frenzy of 2020 and 2021 may happen again. Besides NFTs, Netz is also confident about the development of encryption games, emphasizing that the gaming market has stronger crowd appeal and scale potential, which could become an important engine for mainstreaming the encryption industry.

Pudgy Penguins has transformed from an NFT project into an IP licensing agency.

Pudgy Penguins originally was just an NFT series on Ethereum, but after Netz took over, it has transformed into a diverse intellectual property licensing brand, with IP content covering games, social videos, children's books, and plush toys, far exceeding the original positioning of the NFT.

The Fat Penguin plush toy is not the endpoint, but just a part of the brand strategy.

Although Pudgy Penguins has achieved good sales results in the physical toy market, conquering the children's toy market is not the ultimate goal. Netz sees it as a strategic tool to enhance brand influence, especially in contexts outside the screen, achieving cross-generational cultural penetration through the sale of physical toys.

Looking at the challenge of mainstream IPs like Pokémon and Hello Kitty

Netz indicates that Pudgy Penguins will compete in the meme coin market with Doge and Pepe; the long-term goal is to target globally mainstream heavyweight IPs like Pokémon and Hello Kitty. "Encryption native" is just the starting point; expanding to a broader consumer market is the core of the future blueprint.

Igloo Inc. estimates revenue to reach 50 million USD

Netz-led Igloo Inc. owns Pudgy Penguins, the Ethereum Layer 2 protocol Abstract, and the NFT licensing platform Overpass, expecting to achieve a revenue target of $50 million by 2025. This achievement demonstrates that its cross-platform and cross-domain development strategy has already begun to show results.

The physical consumption market is a blue ocean for encryption IP.

Netz pointed out that compared to decentralized finance (DeFi), the market in the encryption industry that directly interacts with consumers holds much larger business opportunities, and the value and revenue that consumer-oriented entrepreneurship can create are considered to have greater potential.

Create a Crypto brand owned by everyone

Netz's vision is to allow every cryptocurrency user to own the IP of Pudgy Penguins or the related Memecoin "PENGU". Starting from the native community and family consumption market, the brand is gradually moving towards globalization and everyday use, attempting to establish the next truly culturally penetrating encryption brand.

Why can Pudgy Penguins go further?

Pudgy Penguins, compared to most NFT projects that remain in speculation, demonstrates a clearer brand strategy and execution. It started as a purely digital asset and quickly expanded into physical products and mainstream markets, establishing a brand image and breaking the limitation of encryption projects that often only revolve within the community.

Pudgy Penguins does not rely on short-term speculative value, but instead continues to invest in the in-depth management of intellectual property and content creation, gradually planning a brand asset that can operate for the long term, from toys and books to games. In addition, the management team possesses the ability to manage cultural and creative products, clearly understanding the connection between Web3 consumers and the mass market, which is a key aspect lacking in other NFTs.

Most importantly, Pudgy Penguins will use NFTs as a launch rather than a sole product form. Even after the NFT craze subsides, it can still extend the product lifecycle with IP, truly moving towards the direction of "the next Pokémon or Hello Kitty."

These traits make Pudgy Penguins one of the very few that has evolved from encryption-native to a globally dominating IP brand, rather than just another fleeting meteor in the NFT market.

This article Pudgy Penguins aims to achieve a revenue target of 50 million dollars this year. The CEO predicts that the NFT market will revive? It first appeared in Chain News ABMedia.