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Solana Bridge Incoming? Pudgy Penguins CEO Luca Netz Teases Lil Pudgys Expansion

Pudgy Penguins, one of the most valuable NFT collections on Ethereum, could soon make its mark on Solana.

April 29, 2024 by Sheldon

Pudgy Penguins, one of Ethereum's most beloved and valuable NFT collections, is making a splash in the Solana world. CEO Luca Netz hinted at a potential Solana bridge for the project's second collection, Lil Pudgys, during the Jupiter Planetary Call. This development marks a major milestone for Solana's NFT scene, solidifying its validity and appeal.

Responding to a question from Kash Dhanda of the Jupiter working group, Netz casually remarked, "Lil Pudgys might have a Solana bridge soon." While not a definitive announcement, Netz's statement sparked excitement within the NFT community, considering the pedigree of the Pudgy Penguins brand.

Pudgy Penguins: A Success Story

Pudgy Penguins originally launched on Ethereum and has become a powerhouse in the NFT world. The primary Pudgy Penguins collection boasts a floor price of 11.35 ETH (approximately USD 36,000), placing it among the top three collections alongside giants like CryptoPunks and Bored Ape Yacht Club. The Lil Pudgys collection, featuring 21,655 NFTs, currently has a floor price of 0.98 ETH.

Netz played a significant role in revitalizing the Pudgy Penguins brand. In April 2022, he acquired the collection and took the helm, leading it to further success. His strategy included launching physical Pudgy Toys, which have found their way into stores like Walmart and Toys R Us. This Web2-oriented move has brought new audiences to the project.

Ethereum has long been the dominant blockchain for NFTs, but Solana has established itself as a viable contender, doing more volume than Ethereum NFTs several times in the past four months. The Lil Pudgys integration into the Solana ecosystem signifies a major validation of the blockchain's NFT capabilities. This move reinforces the trend of popular NFT collections expanding their reach by bridging to Solana.

The arrival of such a high-profile NFT collection like Pudgy Penguins promises to further strengthen Solana's NFT community and drive more attention and adoption towards the blockchain.

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