Tyler defends Luca Netz Pudgy Penguins

    by Tufail: Farokh Sarmad

    It is genuinely hard to see why anyone would be upset with Luca Netz after he handed Pudgy Penguins holders $80,000 just for owning the NFT. That payout was the second-largest airdrop in history, sitting right behind the Bored Apes and ApeCoin distribution where holding the asset was the only requirement. Tyler questions how any holder can feel anger when they walked away with that kind of money. The team did pursue a project called Abstract and it seems clear they gave it their best shot without intending to fail. Maybe you could argue they failed faster than necessary, but predicting market shifts is incredibly difficult. Consensus previously favored streaming and consumer adoption as the path forward, yet the market dynamics changed completely to favor institutions. Institutional chains are the only ones that have actually succeeded so far while other models collapsed. Despite all this, Luca is now taking the backlash and the dunking even though he ran one of the most successful NFT projects of all time. Farokh from MyriadMarkets joined the conversation to highlight how tough the game really is when everything shifts under your feet.

    Transcript (en)

    Luca gave everyone $80,000 for holding a pudgy penguin. NFT is the second biggest airdrop in, in NFT history behind board apes. That was big. Ape coin. All you had to do was hold a pudgy penguin. You got $80,000 for it. So I don't know how any holder can be upset at Luca in any way. Yeah. It's like they went off and did abstract and I think they gave it their best shot. And maybe you could argue they could have perhaps failed faster. I don't know. i think that's a hard thing to do i think that's easy to say uh certainly they didn't want to fail um it's a tough game and also like there's a lot of things that shifted like we a lot of people thought it was it was a consumer was the way to go and then it actually turned out it was institutions that's the only change that made it and then like a lot it was consensus that streaming was the way to go i pumped it streaming too and that just was just it just didn't work um and then now they're they're they're catching all the backlash all the dunking even though he kind of stood up and ran one of the most successful NFT projects of all time.