Back to the list

The cost of Pudgy Penguins NFT increased by 50% in just one day


bctd.news 12 January 2022 10:53, UTC
Reading time: ~2 m

Recently, many analytical business publications writing about cryptocurrency pointed to an unexpected rise in the price of Pudgy Penguins NFT. The cost of non-fungible tokens of this project increased by 53.6% in just a day. Experts attribute this to the fact that an indefatigable scandal has flared up inside the company at the moment.

So, a few days ago, the co-founders of Pudgy Penguins NFT began actively discussing the possibility of dividing the project into equal parts in a decentralized autonomous organization (DAO). The reason was the leaders' distrust of their team.

It is worth noting that the conflict occurred after one of the members of the Pudgy Penguins team under the nickname 9x9x9 published a post on his Twitter account in which he accused the co-founders of the project, in particular Cole Willemain, of wasting funds from the budget of their general NFT collection. It was also stated that Willemain was allegedly trying to sell 20% of the total shares of the project for $ 12.9 million.

After long proceedings, the community, represented by the holders of the majority of the shares, demanded to expel him from the team, noting that they did not feel trust in him. This is how the idea of ​​dividing the project arose. An interesting fact is that a couple of days before the accusations against him, Willemaine announced that he intends to take a break from work on the application for social networks. The man noted that he wants to devote his free time to himself.

“I want to focus on my psychological health, start a long-planned construction, and in general focus on doing what I love,“ behind the scenes ”, without unnecessary fuss and publicity,” he said.

Many members of the NFT community responded by calling him a scam.

By the way, the above collection was launched based on the Ethereum distributed ledger in the middle of summer 2021. At the very beginning, the project consisted of 8,888 cartoon penguin avatars. Each of them is individual. The collection was instantly sold out on OpenSea by supporters of the NFT space. The development team at that time earned 266.64 ETH.

In addition, a month after the release of the collection, the authoritative edition of The New York Times wrote about her. The growing popularity of the project, thanks to publications in well-known media, helped him earn another $ 145 million.

Back to the list