Pudgy Penguins Raises $9 Million in Seed Funding on May 9, 2023

According to media reports, Pudgy Penguins secured $9 million in seed funding on May 9, 2023. The round saw participation from institutional investors including 1kx, Shima Capital, Big Brain Holdings, Kronos Research, Old Fashion Research, CoinGecko Ventures, Puzzle Ventures, Kucoin Ventures, Digital Finance Group, and Crit Ventures.Pudgy Penguins is an NFT collection featuring 8,888 unique cartoon penguins, each generated from 150 hand-drawn traits. The project focuses on content creation, toys, and digital collectibles, offering holders exclusive experiences, events, and IP licensing opportunities. Its ecosystem encompasses multiple product lines such as the Abstract public blockchain, Pudgy Toys, Pudgy World, Lil Pudgy NFT, Pudgy Rod, and Pudgy Bridge.Notably, according to the project roadmap, Pudgy Penguins listed its PENGU token on major exchanges on December 17, 2024, and conducted a token airdrop. In February 2025, the project completed a token burn valued at $141.56 million, further optimizing the tokenomics. Pudgy Penguins has also expanded its partnerships, collaborating with Sol Strategies to launch the PENGU validator on the Solana blockchain, reflecting its cross-chain development strategy. These initiatives highlight the team’s innovation and long-term strategic vision within the NFT sector.