According to WuSaid, 1kx partner Peter talked about the reasons for leading the seed round of NFT project Pudgy Penguins in May 2023, including that the team has rich experience in selling products online, building brands on social media, and operating in an Internet-native way.
The team sold a big game; the team is young, one of the youngest teams in the top 30 PFP projects; and believes that toys and cute penguins will be the ultimate Trojan Horse for cryptocurrency adoption.