Summary
- The CEO of Pudgy Penguins has revealed plans to aim for an IPO within the next 2 years.
- As an NFT project, Pudgy Penguins is proving its scalability and utility in the intellectual property (IP) business.
- Alternative strategies such as stock tokenization are being considered if the IPO falls through.
The non-fungible token (NFT) project Pudgy Penguins has expressed its intention to go public (IPO).
On the 24th (local time), Luca Netz, CEO of Pudgy Penguins, stated in an interview with the cryptocurrency-focused media outlet Decrypt, "I want to do an IPO within the next 2 years," adding, "If we fail to go public by then, I’ll be disappointed with myself."
Pudgy Penguins launched in 2021 as an NFT based on Ethereum (ETH). It is currently making a name for itself by demonstrating its utility as intellectual property (IP) in various areas such as toys, games, and children's books.
Netz's comments align with the recent trend of several crypto companies going public on the U.S. stock market. In June, stablecoin issuer Circle successfully went public on Nasdaq, followed by the listing of the crypto exchange Bullish this month. In addition, companies such as Gemini and Kraken have submitted listing documents to the Securities and Exchange Commission (SEC).
Meanwhile, Pudgy Penguins is reportedly also considering a stock tokenization strategy in case the IPO does not proceed.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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