{"id":6939,"date":"2023-05-09T20:26:02","date_gmt":"2023-05-09T20:26:02","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/05\/09\/pudgy-penguins-confirms-10m-investment-plans-nft-culture-nft-news-web3-culture-nfts-crypto-art\/"},"modified":"2023-05-09T20:26:02","modified_gmt":"2023-05-09T20:26:02","slug":"pudgy-penguins-confirms-10m-investment-plans-nft-culture-nft-news-web3-culture-nfts-crypto-art","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/05\/09\/pudgy-penguins-confirms-10m-investment-plans-nft-culture-nft-news-web3-culture-nfts-crypto-art\/","title":{"rendered":"Pudgy Penguins Confirms $10M Investment Plans | NFT CULTURE | NFT News | Web3 Culture | NFTs &#038; Crypto Art"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Popular NFT collection Pudgy Penguins has confirmed its plans to raise up to $10 million in funding, which would give the project a valuation of $50 million. This news comes as several other high-profile NFT projects have also attracted substantial venture capital investments.<\/p>\n<p>Pudgy Penguins, consisting of 8,888 unique, Ethereum-based cartoon penguins, is discussing a seed round with potential investors. According to documents obtained by The Block, these discussions include a pitch deck, term sheet, and investor outreach. Pudgy Penguins CEO Luca Netz has now confirmed the fundraising efforts.<\/p>\n<p>Since acquiring the project for $2.5 million in April, Netz has expressed plans to introduce a toy line and hinted at a possible token launch, slated for April 2024. The current $10 million funding round is structured as a Simple Agreement for Future Equity (SAFE) round, with attached token warrants, a common arrangement in crypto-focused venture capital.<\/p>\n<p>Despite the approaching \u201ccrypto winter,\u201d prominent NFT projects continue to attract venture capital interest. Chiru Labs, the team behind Azuki, is nearing a $30 million raise, while Doodles raised $54 million in September, Proof Collective (creator of Moonbirds) secured $50 million in August, and Yuga Labs, responsible for Bored Ape Yacht Club, led the pack with a $450 million round in March.<\/p>\n<p>Pudgy Penguins remains a highly followed NFT project, with a single penguin currently priced at around 3 ETH ($4,600). Since the project\u2019s launch, nearly $100 million worth of Pudgy Penguins have been traded on secondary markets, as per OpenSea data.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We are happy to announce our $9M seed round, led by 1kx. <a href=\"https:\/\/t.co\/ozzA8rwL4H\" target=\"_blank\">pic.twitter.com\/ozzA8rwL4H<\/a><\/p>\n<p>\u2014 Pudgy Penguins (@pudgypenguins) <a href=\"https:\/\/twitter.com\/pudgypenguins\/status\/1656022996409098261?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">May 9, 2023<\/a><\/p>\n<\/blockquote>\n<p><!--themify_builder_content--><\/p>\n<p><!--\/themify_builder_content--><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/www.nftculture.com\/nft-news\/pudgy-penguins-confirms-10m-investment-plans\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Popular NFT collection Pudgy Penguins has confirmed its plans to raise up to $10 million in funding, which would give the project a valuation of $50 million. This news comes as several other high-profile NFT projects have also attracted substantial venture capital investments. Pudgy Penguins, consisting of 8,888 unique, Ethereum-based cartoon penguins, is discussing a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[15],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.nftculture.com\/wp-content\/uploads\/2023\/05\/pudgy-penguins-fundraise.jpg","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/6939"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=6939"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/6939\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/6940"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=6939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=6939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=6939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}