This is Eric Golden, and my guest today is Luca Netz. Luca grew up with nothing but made millions before his 25th birthday by building and selling multiple businesses. Two years ago, he spent $2.5M to buy the Pudgy Penguins NFT project and has since turned it into one of the best-run NFT projects in the world. In the episode, Luca explains why the $2.5M purchase price was a bargain and why he believes Pudgy Penguins could be the face of NFTs in the future. We also talk about the overall NFT landscape, whale management, the strategy for Pudgy Penguins, and much more. Please enjoy this conversation with Luca Netz.

For the full show notes, transcript, and links to the best content to learn more, check out the episode page here. 

-----

This show is brought to you by OKX. Want to stop paying trading fees? You can now trade for free for two months with OKX. Over 20 million traders and institutions choose OKX when they want to trade. And you can join them by signing up at okx.com/landingpage/okxtraderseries to start your two months of fee-free trading today.

-----

Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes.

Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.

Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag 

Show Notes

(00:02:45) - (First question) - When he first learned about Pudgy Penguins

(00:05:19) - The original project owners and what lead to the community forcing them out

(00:09:53) - Bidding high on Pudgy Penguins based on a bigger understanding of its potential

(00:15:03) - His background before crypto and his skills as an elite marketer

(00:21:44) - Thoughts on risk aversion when he first started amassing wealth 

(00:24:28) - The relationship between a brand and its founder 

(00:28:08) - How building in public has elevated his game

(00:30:38) - Overview of the whale management thesis

(00:35:30) - Marketing for niches versus expanding to multiple communities

(00:40:36) - Early things he’s most proud of that helped grow Pudgy Penguins

(00:43:20) - Planning for the future versus being spontaneous and reactive

(00:46:17) - What the industry needs to help move it forward

(00:52:45) - What he’s excited to see built over the next six months and six years

Learn more about your ad choices. Visit megaphone.fm/adchoices