Pudgy Penguins to become much more than a meme. | Credit: David Hammersen/picture alliance via Getty Images.
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Key Takeaways
Pudgy Penguins is aiming to become “the face of crypto,” according to its CEO.
The memecoin project is targeting licensing and IP revenue streams.
PENGU is trading up 75% in the past month after an 85% decline from December 2024 to April 2025.
Pudgy Penguins (PENGU) is looking to stretch the memecoin concept as far as it can go, and as CEO Luca Netz explains, the project has set its sights on becoming far more than a humorous, community-driven token.
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In terms of brand recognition, Pudgy Penguins has become one of the most prominent in crypto and Web3 channels, and a successful memecoin, which is currently carrying a market cap of $2.51 billion.
Speaking on the Crypto Banter podcast, Netz describes it as a “licensing and IP powerhouse.”
In the Web2 world, Pudgy Penguins is already generating around $40 million a year from royalties, staking, plush toys, collectibles, brand partnerships, content, and events — and, according to Netz, that figure has doubled every year since launch.
The goal for next year is to push annual revenue past $100 million, a target that will require a stronger push in Web3.
To achieve that, Pudgy Penguins is launching a Web3-focused licensing business, actively approaching app developers and project creators who have quality products but lack marketing expertise.
In exchange for helping bring those products to market, Pudgy Penguins takes a cut of the revenue or an equity stake.
Investors appear to have faith. The PENGU token slumped by over 85% from its launch price of around $0.028 to a low of $0.004 within 4 months of launching.
By the end of April, the token’s recovery had begun showing signs of promise, and has since recovered to new highs, and is currently trading at $0.039.
A Collectible Comeback
Aside from an overall bullish outlook on the crypto and altcoin markets, Netz is hopeful that non-fungible tokens (NFTs) are set to make a surprising comeback.
He notes that the NFT boom won’t play out in a similar way to how it did before, with overly simplistic cash-grab grifter collections dropping every day.
Instead, Netz posits that there won’t be a dozen projects making millions a day minting NFTs; there’ll be some semblance, but it’s going to take a new, higher quality form, with lower price points.
Mentioning Moonbirds, the Bored Ape Yacht Club, CryptoPunks, and Pudgy Penguin NFTs, he adds: “It’s going to be with legacy IP, I think. And then obviously, I think the natural incumbents are going to do really well.”
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
