PENGU: From NFT to a global brand

• The original NFT was minted at 0.03 ETH and reportedly peaked at around 29 ETH before the launch of the PENGU token.
• Leadership changed hands in April 2022, when entrepreneur Luca “Netz” Schnetzler acquired the IP (750 ETH) and pivoted to mainstream products.
• Physical toys have been sold in major retailers, with QR codes that onboard buyers into the Pudgy World experience.
• Pudgy Penguins thrust into the mainstream via gifs and short-form social content.

What Is PENGU?

PENGU is the native token associated with the Pudgy Penguins brand. The project began as a 2021 NFT collection (8,888 items on Ethereum) and has since expanded into toys, games, and a broader consumer brand. The token launched on Solana in December 2024 to widen community participation.

Pudgy Penguins brand image as shown on its X profile

Brand Launch

Like most NFT projects at the time, Pudgy Penguins looked destined to disappear and be remembered as a passing phase. However, a reset was needed, and a new direction was coming.

In April 2022, the project underwent a major transition when entrepreneur Luca “Netz” Schnetzler acquired the brand’s intellectual property for 750 ETH (about AUD$3.8 million). At the time, the community was uncertain about the project’s future. Luca stepped in with a clear vision to revive the brand and build something far bigger than a typical NFT collection. He brought leadership, structure, and an experienced commercial mindset that the project previously lacked.

“The biggest brands in the world are built on culture. NFTs alone aren't enough.”
Luca “Netz” Schnetzler (CEO & Owner, Pudgy Penguins), 29 January 2025 Patrick Collison, CEO & Co-Founder of Stripe

The Pudgy Penguins project then shifted its focus towards becoming a broader consumer brand. This new direction included plans for physical merchandise and, eventually, the introduction of a token-driven economy. It marked the start of a transformation aimed at turning a small crypto project into a household brand recognised globally.

Toys, Games and Gifs

In May 2023, Pudgy Penguins entered the physical retail space with the release of its first line of toys. Initially launched online through Amazon, the collection sold over 20,000 units in its first 48 hours and generated more than US$500,000 in sales. This signalled strong demand beyond the NFT community. Later that year, the toys were stocked in more than 2,000 Walmart stores across the US.

Pudgy Penguins have also gained significant reach across various mainstream social media with unique gifs and short form content. Currently they have amassed 1.9 million followers on Instagram and over 750k on TikTok along with thousands of popular gifs shared daily, strengthening brand recognition and cultural relevance. All this has added up to over 200 billion global views.

Pengu Mindshare over 200 billion views

Pudgy Party, a mobile game has also been released. Its a series of fast paced, multiplayer mini-games and obstacle courses where players control Pudgy characters to compete in races, survival rounds, King of the Hill and team battles. It launched in August 2025 and has had over 750,000 downloads.

PENGU Launch and Brand

PENGU launched on Solana on 17 December 2024, with a total supply of 88,888,888,888. Approximately 25.9% was allocated to the community via airdrops to broaden reach beyond NFT holders.

Unlike a typical meme coin, PENGU is tied to a brand with an existing global presence. It is arguably the first true “brand token” not just a meme, but directly attached to a company and its identity.

Although PENGU doesn’t represent company ownership or a share of revenue, it does open a new channel for fan engagement. It lets brand enthusiasts participate in the traction where culture, community, and commerce intersect.

Summary

PENGU has turned Pudgy Penguins from a niche NFT into a full-blown retail and Web3 success. With a worldwide toy launch, integrated gaming, a strong token economy, and a community-first, culture-led approach, the brand is reshaping what building in crypto looks like.