Pudgy Penguins, DreamWorks 'Kung Fu Panda' collaboration...PENGU surges 10%

Doohyun Hwang

Summary

Pudgy Penguins announced it will collaborate with DreamWorks' flagship series 'Kung Fu Panda'.
It said that through this collaboration, Pudgy Penguins has cemented its position as the first blockchain-based original IP chosen by a major studio.
It reported that upon news of the collaboration, the PENGU token rose about 10% on Binance.

The Web3 representative non-fungible token (NFT) project Pudgy Penguins has teamed up with Hollywood major studio DreamWorks Animation's flagship series 'Kung Fu Panda'.

On the 26th (local time), Pudgy Penguins said through its official channels, "Through the collaboration with DreamWorks, Pudgy Penguins' character 'Pengu' will share a universe with Kung Fu Panda's protagonist Po, Master Shifu, Grand Master Oogway, and others."

Through this collaboration, Pudgy Penguins has established itself as the first blockchain-based original IP chosen by a major studio. The industry sees Pudgy Penguins as a representative case of a Web3 brand entering Web2 popular culture content.

Luca Netz, CEO of Pudgy Penguins, said, "The roadmap we planned is becoming a reality," and "We plan to participate in film projects in the future." He added, "Pudgy Penguins is growing into a global IP that can expand into Web2 markets beyond Web3," and "We plan to sequentially announce more collaborations in the future."

Following news of the collaboration between Pudgy Penguins and DreamWorks, the token 'PENGU' also showed strength. On that day in the Binance Tether (USDT) market, PENGU rose about 10% compared to the previous day and broke through the $0.023 level.

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