Luca Schnetzler: When NFTs Crashed, He Led Pudgy Penguins to Success
NFT project, Pudgy Penguins, led by 25-year-old entrepreneur Luca Schnetzler, has thrived despite a study suggesting 95% of NFTs may have virtually no value. Schnetzler acquired the Pudgy Penguins NFT collection in 2022 and guided the project towards a "Web 2 approach". By May 2023, it raised $9 million, sold "Pudgy Toy" collection online, and made these collectibles available in 2000 Walmart stores in the U.S. By the end of September 2023, the toys debuted in Canadian Toys R Us locations. These toys, modeled after the NFTs, provide customers with blockchain access via a QR code. Pudgy Penguins ownership gives holders real IP rights, with profits from toy sales being shared. The brand also built a non-crypto fanbase through social media. Schnetzler’s achievements with Pudgy Penguins led to his inclusion in CoinDesk's Most Influential list for 2023.
