New York – Luca Netz, CEO of Igloo Inc., the parent company of the viral Pudgy Penguins brand, is bullish on the future of NFTs and crypto gaming. In a recent interview, Netz predicted a resurgence reminiscent of the 2020–2021 NFT boom, as the market begins to recover from its prolonged downturn. He believes a cultural and financial revival is underway, driven not just by digital ownership but by community, nostalgia, and storytelling.
“Another Boom Is Coming” – Netz Eyes Cultural Return of NFTs
“I believe we’re going to see a repeat of what happened in 2020 and 2021,” said Netz, referring to the period when NFTs exploded into public consciousness and generated billions in sales. “But this time, it will be bigger, smarter, and more rooted in culture.”
While NFTs were once considered speculative digital art assets, Netz now sees them as long-term drivers of community and identity. He noted that the cultural value of NFTs—especially collections like Pudgy Penguins and CryptoPunks—is once again rising, signaling renewed interest and engagement. “It’s not just about money anymore—it’s about belonging,” he said.
Crypto Gaming: An Even Bigger Bet
Though confident in NFTs, Netz is even more bullish on the future of crypto gaming. He sees the space as a transformative force in the digital economy and a gateway for onboarding millions of users into Web3. “I’m more certain about crypto gaming than NFTs,” Netz said, pointing to its massive potential for interactive storytelling, user-generated economies, and digital asset ownership.
With gaming studios and investors increasingly embracing blockchain technology, the market is poised for rapid growth, and Pudgy Penguins is ready to ride that wave.
Pudgy Penguins: From Meme to Multiverse
What started as a quirky NFT collection has evolved into a full-fledged consumer brand. Under Netz’s leadership, Pudgy Penguins has expanded into physical toys, children’s books, viral social content, and upcoming Web3-native games. Netz’s vision: turn the brand into a cultural juggernaut on par with Pokémon and Hello Kitty—and beat meme icons like Doge and Pepe in the near term.
“Toys reach you when screens are off,” said Netz. “They become memories, passed from parent to child. That’s the emotional layer we’re building into Pudgy Penguins.”
A $50 Million Milestone and a Billion-Dollar Vision
Netz acquired the Pudgy Penguins brand three years ago for 750 ETH, or roughly $2.5 million at the time. Since then, Igloo Inc. has grown rapidly, now encompassing Abstract, a creative studio, and Overpass, a licensing platform for NFT intellectual property.
The company is on track to generate $50 million in revenue this year, with plans to scale further by combining crypto-native appeal with mainstream consumer products. “We want everyone in crypto to own a piece of Pudgy IP or some PENGU, our memecoin,” Netz said.
But his ambitions don’t stop there. “A billion dollars in consumer crypto revenue could be more profitable—and impactful—than a billion in DeFi,” he added, highlighting his belief that consumer-focused innovation is where the real opportunity lies in Web3.
NFT Market Rebounds, Signaling a Cultural Shift
Netz’s predictions come at a time when the NFT market is showing signs of a strong comeback. Sales volumes are climbing, floor prices for top collections like Pudgy Penguins and CryptoPunks are rising, and daily transactions are gaining traction. Analysts say the current growth reflects not just speculation, but a return to NFTs as status symbols, collectibles, and cultural markers.
With Ethereum at the heart of this digital economy, NFTs continue to serve as the backbone of Web3’s social and creative communities.
Looking Ahead
Luca Netz’s vision—combining emotional storytelling, viral branding, and blockchain tech—suggests Pudgy Penguins is more than just a cute character collection. It’s shaping up to be a test case for how NFT-based IP can grow into a billion-dollar cross-media franchise. If Netz’s predictions are correct, the next NFT boom may be closer than we think—and this time, the penguins are leading the parade.
