NFT project pudgypenguins has raised $9 million in a funding round after a period of turbulence that saw a leadership change and a record-high floor price. BrandyBetz reports
Non-fungible token collection Pudgy Penguins has announced the completion of its $9 million seed funding round led by 1kx. The company plans to use the new capital to scale its intellectual property and team.for allegedly draining treasury funds and failing to meet community goals. In April 2022, entrepreneur Luca Schnetzler bought the Pudgy Penguins rights for $2.
“We are thrilled to be able to continue the strong momentum we’ve built over the last year, even in a bear market,” said Pudgy Penguins head of investor relations Vi Powlis in the press release. “Today’s milestone is a testament to the vision of our strategic partners, who recognized that Pudgy Penguins is not only a Web3 brand for crypto-natives, but also an accessible IP for everyday consumers around the world, as well as our incredibly talented team.
Other investors in the round included Big Brain Holdings, Kronos Research, the founders of LayerZero Labs, Old Fashion Research, and CRIT Ventures.
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