According to CEO Luca Netz, Pudgy Penguins is on track to record a record $50 million in revenue this year. This is the culmination of years of play to paint the world’s popular IPs that are not published in Web3 projects, including Arcades, Storybooks, and even major recoverers.
However, Netz is already aiming to march the Pudgies on Wall Street, a bigger and more lucrative arena over the next two years.
In an interview with DecryptionNetz said it hopes that by 2027, Pudgy Penguins shares will be traded in public transactions.
“In the next two years (please make it public),” he said. “I think I would be disappointed in myself if there were no IPOs in the next two years.”
And if it doesn’t pan out by that deadline, “hold me accountable,” the Nets said.
Pudgy’s aim comes as a solid experiment with various business verticals, especially amid the revival of IPOs in the US, which pumped large amounts of capital into high-tech companies.
Over 220 companies have listed their stocks in public exchanges, up nearly 90% from 117 companies that debuted in the US stock market in the first eight months of 2024. According to Go to the market research website stockanalysis.com.
Amid the revival of the IPO, several digital asset companies have jumped into the fight, suggesting that US President Donald Trump be made public in favor of federal regulations in the industry.
Stablecoin Issuer Circle announced its blockbuster IPO in early June, earning more than $1 billion. Just two months later, Crypto Exchange Bullish made its debut on the New York Stock Exchange, but competitors Gemini and Kraken are preparing to follow suit.
Pudgy is working with financial experts to capitalize on the rise in public interest for digital asset-related companies by making Pudgy Penguins and its associated decentralized fiscal token Penguins more accessible to retail and institutional investors.
Earlier this year, the company shepherd the asset manager Canary Capital’s proposal to debut funds traded on exchanges tracking prices for Penger Meme Coin and slimy Penguin NFTs. Recently, the Pudgy team has been in discussion with public companies to keep Pengu on their balance sheet.
“The understanding of traditional finances is very exciting,” Netz said. “There’s far more capital inflows and accessibility.”
So, the Pudgy team, which maintains its headquarters in Miami, is considering spending more time in New York, the heart of the open market.
“Every time me and a few other people in the company went there, we only finished in two days here that took us five days,” Netz said. “Every day, hourly, every minute is important and New York moves at an incredible pace that you think is very necessary if you want to win.”
Are there any public lists? no problem
It is unclear whether Pudgy will be able to bring IPO investors to court by the end of 2027, but there are already alternatives that could allow traders to invest in Pudgy Penguin without all regulatory requirements.
Asked if Pudgy Penguins could quickly tokenize its stock and trade on on-chain stock platforms such as Xstocks, Netz said: “I can’t talk about this, but you’re down a very smart rabbit hole.
However, one thing he can share is that he is selective about who to work with as the NFT project is looking for ways to drive growth.
“There are a lot of cheap, dirty, dirty capitals out there,” the Nets said. However, he added: “I have every interest in doing this with the biggest and best… If it’s not $1 billion, I won’t move the needle.”
