EXCLUSIVE: Pudgy Penguins Owner Luca Netz to Talk Benzinga’s Future of Crypto What’s Next for NFTs

One of the most recognizable NFT collections of the past year is Pudgy penguins. A transaction in April 2022 saw ownership of Pudgy Penguins change hands with founders Luca Schnetzler (aka Luca Netz) takes control of the project.

Netz will be speaking at Benzinga’s Future of Crypto event on December 7th at Pier 60 in New York City to share his story of building Pudgy Penguins into one of today’s largest NFT brands and his plans for future growth.

Introduction to NFTs, Buying Pudgy Penguins: Netz told Benzinga that it was the realization that NFTs represented a digital identity or how you represent yourself online that got him interested in the sector. That belief also got him interested in acquiring Pudgy Penguins.

“If that’s the narrative, then the Pudgy Penguins have the most universal and inclusive identity of them all,” Netz said.

Network said Pudgy Penguins may be the best NFT to represent all age groups, ethnic groups and gender roles.

“I just started falling in love with penguins, always made me smile.”

Netz credits the strong community built around Pudgy Penguins and the content they created as a reason he connected and bought in.

When asked what his favorite Pudgy Penguin move is, Netz told Benzinga it’s the Wizard Hats.

Related Link: EXCLUSIVE: Yuga Labs Co-Founder Greg Solano, AKA Gargamel, Is Coming to Benzinga’s Future Of Crypto Event: Here Are The Details

Taking over the Pudgy Penguins: Netz bought Pudgy Penguins in April for 750 Ethereum ETH/USDor about $2.5 million at the time.

“The first couple of days were pretty discouraging because of the negative nancies,” Netz said.

Netz said that it was also a big narrative that he should leave the project to DAO control and not worry about the huge investment he made.

“I personally didn’t think DAOs are in a place where they work for this type of business. I think they work for certain types of businesses.”

Netz told Benzinga that NFT projects need a person to push things forward. Netz said he allows the community and members to be involved in decisions, but sometimes he has to make decisions on his own.

“I am not here to rule a dictatorship. I’m the brawn and brains behind Pudgy Penguins.”

Netz eventually said the negative nancys stopped and the people who really cared about the Pudgy Penguins stuck around, which has kept him “more motivated.”

“I was just like we’re going to the moon baby, I’m going to take this thing with everything I’ve got.”

What’s next for NFTs: Netz said NFTs could solve several problems going forward, including the supply chain side of the business. NFTs can help with authenticity and logistics.

“The next big wave is not going to be a wave we’re going to see,” Netz told Benzinga. “Could be the B2B model that takes over. The underlying technology solves logistical problems.”

Netz said he believes that era is upon us and we will see it soon.

Future of Crypto Events: Netz will be speaking at the Benzinga Future of Crypto event as part of a panel titled “Using NFTs to Foster Community and Build Ramps into Web3.”

He said it is important to have events in the cryptocurrency and Web3 space to provide opportunities for people to learn new things.

When asked who he is most excited to hear speak at Future of Crypto, Netz mentioned Bored Ape Yacht Club boys. Yuga Labs co-founder Greg Solano will speak with several prominent Bored Ape holders.

Another speaker mentioned by Netz is Kevin O’Leary.

“Kevin O’Leary, been a fan of Shark Tank, which is a big reason I wanted to be an entrepreneur and I think I’ve watched every episode since season 1.”

Get your Future of Crypto tickets here and get a 20% discount.