Pudgy Penguin news: Company plans IPO as revenue hits $50 million

Pudgy Penguin news: NFT brand expands into toys, ETFs, and Wall Stree

Pudgy Penguins, the Web3 born brand that has been started as Ethereum NFTs, is now gearing up for its most ambitious move yet by going public. CEO Luca Netz revealed that the company expects to generate a record breaking $50 million in revenue this year. 

This achievement comes as Pudgy Penguin expands its footprint beyond digital assets by entering toys, arcades, games, storybooks and major retail shelves including the Walmart, recently Wu Blockchain has shared the information on its X post. 

Source: X 

IPO plans and timeline 

Netz shared that he wants the coin to launch an Initial Public Offering (IPO) by 2027 at the latest. Ideally, he hopes the listing happens within the next two years. “If we don’t IPO in the next two years, I’d be disappointed in myself,” Netz said. 

He added that revenue growth will be the key factor in determining the timeline and also urged the public to hold him accountable if the company misses this target.

Currently, Pudgy Penguin coin is trading at $0.03192 with a down of 8.4% in a day, as per the data of Coingecko.

Source: Coingecko

Riding the IPO wave 

The firm’s IPO ambitions come at a time when U.S. stock markets are seeing renewed momentum. In the first eight months of 2024 alone over 220 firms have gone public and nearly 90% jump compared to 117 in the same period of 2023 according to the data of StockAnalysis.

This surge has injected billions into tech and digital firms, a trend Pudgy Penguin is looking to ride as it transitions from NFT origins into mainstream consumer and financial markets.

Bridging web3 and traditional finance 

Beyond toys and digital tokens, Pudgy Penguin is actively working with financial institutions to expand its market reach. Earlier this year the firm supported Canary Capital’s proposal for an exchange-traded fund tied to the PENGU meme token and NFTs. 

Discussions have taken place with public firms about adding PENGU to their corporate balance sheets with results expected in the coming months. 

Conclusion 

From playful penguin NFTs on Ethereum to global toy passage and now Wall street ambitions the Pudgy Penguins is positioning itself as more than just a Web3 brand. 

With $50 million in projected revenue and a strong push toward financial integration, the firm is setting the stage for a bold entry into public markets within two years.