From meme icon to institutional finance, Pudgy is rewriting the rules of Web3.
Officially Appointed as U.S. Government Crypto Advisor
Pudgy Penguins CEO Luca S. confirmed that the team, along with Abstract, has been appointed as an official advisor to the U.S. government, actively participating in the development of crypto legislative frameworks. Over the past few months, they’ve made several visits to Washington, D.C. to engage in policy discussions.
For a Web3-native IP, this move represents not only cultural penetration but a major step into institutional influence.
First-of-its-Kind ETF Blending Token + NFT Assets
Earlier this year, Pudgy submitted the Canary PENGU ETF proposal, and on August 1, the U.S. SEC officially confirmed receipt of the filing. This ETF would allocate roughly 80–95% to the $PENGU token and 5–15% to Pudgy Penguins NFTs, making it the first spot ETF combining meme coins and NFTs to enter the U.S. investment landscape. If approved, it could open a new chapter in tokenized asset management—potentially paving the way for more hybrid on-chain financial products in regulated markets.
Token & NFT Momentum Builds
Despite overall market volatility, $PENGU has surged 130% over the past month, with a market cap surpassing $2 billion. Pudgy Penguins NFTs have also seen a steady floor price climb, now hovering around 14–15 ETH, signaling growing demand. The combination of community strength and ETF hype is reigniting market curiosity around culturally-rooted Web3 assets.
Abstract Chain: Building Consumer-Ready Web3 Experiences
As Pudgy steps into policy, its technical arm Abstract Chain—developed by parent company Igloo, Inc. —is quietly gaining traction. Launched on Ethereum as a Layer 2, Abstract focuses on building consumer-grade crypto experiences, with a current TVL of $45 million and over 100 million transactions processed.
Recent product rollouts include light Web3 games like Onchain Heroes, Pengu Clash, and Moonsheep, plus a new collaboration with K-Pop brand Modhaus aimed at expanding presence in the Asian content space.
Luca also shared plans for further fundraising and improvements to the Portal app and iOS experience—with the goal of making on-chain engagement smoother for everyday users.
A Web3 IP’s Journey into Policy and Finance
From NFT to ETF, from culture to compliance—Pudgy Penguins is proving how Web3-native brands can evolve across three dimensions: IP identity, utility, and regulation. Its path could reshape how the world perceives NFTs—not just as collectibles or memes, but as legitimate assets within future financial portfolios.
💬 What’s your take?
As traditional institutions start embracing Web3-native IPs, how might this shift regulation, valuation, or adoption of NFTs and tokens globally?
