Pudgy Penguins, an NFT collection, was near collapse in 2022 with a six-month financial runway. CEO Luca Netz, a major holder, acquired the parent company for $2.5M in ETH just as the NFT market crashed following Terra’s collapse. Against the odds, Netz pivoted the brand into physical toys, leading to a projected $50M revenue by 2025. This strategic shift not only saved the project but turned it into a rare success story amid the broader NFT downturn. The move highlights how blending digital and physical assets can create resilience in volatile crypto markets.
about Pudgy Penguins' $50M Revenue Bet Against NFT CrashLuca Netz
0 posts last weekMYRIAD Launches on Abstract as Layer Two Blockchain Mainnet Goes Live
MYRIAD, a decentralized prediction market by DASTAN, has launched on Abstract as the layer-2 blockchain’s mainnet goes live. This platform integrates on-chain prediction markets with content from Decrypt and Rug Radio, enhancing reader engagement and creating new business models for publishers.Abstract, developed by Igloo Inc., aims to be the leading blockchain for consumer crypto products, leveraging zero-knowledge technologies for secure transactions and a user-friendly wallet. With a focus on mainstream adoption, Abstract is set to support a diverse ecosystem of applications, including MYRIAD.
about MYRIAD Launches on Abstract as Layer Two Blockchain Mainnet Goes LiveEthereum Layer Two Network Abstract Launches with User-Friendly Features and Rewards
Abstract, a consumer-focused Ethereum layer-2 network from Igloo Inc, has launched its mainnet, aiming to simplify blockchain access for everyday users. With features like the Abstract Global Wallet, users can engage with the network using just an email, eliminating traditional onboarding barriers. The platform will host around 120 projects at launch, including the MYRIAD decentralized prediction market, and users can earn XP rewards by participating in various applications.
about Ethereum Layer Two Network Abstract Launches with User-Friendly Features and Rewards