NFT collection named Pudgy Penguins was acquired by Netz Capital for 750 Ethereum (ETH). Luca Netz, CEO of Netz Capital, will lead the project from now on and will also receive a commission from each NFT sold. “We will look for ways to spread love across the Metaverse,” Luca Netz said on Twitter.
The acquisition comes after Cole Villemain, the founder of the Pudgy Penguins collection, was decided by the community to withdraw from the project a few months ago. In January, Luca openly offered Cole 750 ETH on Twitter to hand over the collection.
So what happened so that the original founder of the collection was ostracized by the community? It all started in August last year when a user named zachxbt brought up some allegations about Cole Villemain's past.
Allegedly, Cole had done the e-commerce model called dropshipping in the past, but most of his customers did not meet their demands despite receiving their money. Cole later admitted to these in a statement on Twitter, but stated that all customers had returned their money. Similarly, it turned out that Cole had in the past advertised high-scam NFT projects for money.
In December, one of the employees of the project resigned, and in a statement on Twitter, he claimed that Cole offered him a bribe not to share any information about the project. Cole denied this claim and stated that he did not offer to bribe anyone. Later, another Pudgy Penguins collection whale criticized Cole's management style on Twitter and announced that he would not invest in the collection.
Talking about the subject, analysts emphasized the importance of the bond between the manager and the community in such communities. In Web3, it was said that if the administrator is not adopted by the community, he will be excluded even if he has created the project. As a result of all this, Cole agreed to sell the collection and the sale took place.