Pudgy Penguins, a NYC-based Web3 IP company and NFT collection, closed its $9m seed funding round.
The round was led by 1kx, with participation from Big Brain Holdings, Kronos Research, the Founders of LayerZero Labs, Old Fashion Research, and CRIT Ventures.
The company will use the funding to scale its IP and team and enhance its offerings to its growing community.
Launched in 2021 and acquired by LA-based entrepreneur and Web3 leader Luca Netz in April 2022, Pudgy Penguins brings innovation to the Web3 space through IP utilization and community empowerment. After being acquired, Pudgy Penguins has transformed into one of the leading Web3 brands, offering its community a suite of innovative products and experiences, including opportunities to participate in live events, create content leveraging their NFTs, monetize their IP, and purchase physical toys, books, and merchandise embodying that IP.
So far, Pudgy Penguins has garnered over 3 billion views on its GIFs and reached 500,000 followers and tens of millions of views on Instagram. In addition, the company is releasing a toyline, Pudgy Toys, that brings Web3 IP and blockchain technology to everyday consumers.
FinSMEs
10/05/2023