[Crypto IPO] Pudgy Penguins Eyes Public Listing — A New Era for NFT Companies Begins

TradingKey – According to a Decrypt report on August 25, NFT brand Pudgy Penguins is planning to go public within the next two years, potentially by 2027. CEO Luca Netz stated:“If we don’t IPO within two years, I’ll be disappointed in myself. Hold me accountable.”

This bold move could pave the way for a wave of NFT-native companies entering public markets, marking a turning point in how digital collectibles are valued and capitalized.

Launched in July 2021 by X user ColeThereum and anonymous collaborators Tubby, Mickyj, and Jonah, Pudgy Penguins began as a collection of 8,888 Ethereum-based NFTs. In 2022, Luca Netz acquired the project for 750 ETH and began transforming it into a global IP brand.

Today, Pudgy Penguins is far more than a blue-chip NFT. Its ecosystem includes:

• Pudgy Toys: A physical toy line sold in major retailers
• Pudgy World: A metaverse experience
• Pengu Clash: A blockchain-based game
• Abstract Chain: Its own Layer 1 blockchain
• Lil Pudgy & Pudgy Rods: NFT spin-offs
• PENGU: A governance and utility token

Netz revealed that the company is now working with financial advisors to position PENGU and its NFT assets for broader investor acceptance.

While most crypto treasuries are dominated by fungible assets like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), NFTs remain underrepresented. Pudgy Penguins is one of the few exceptions. Notably, Nasdaq-listed BTCS has already acquired three Pudgy Penguins NFTs as part of its treasury diversification strategy.