We’re excited to announce an exclusive licensing partnership with @ITSUGAR! This collaboration marks a major step in Pudgy Penguins’ growth as a global brand, bringing Pudgy products to 100+ IT’SUGAR stores.

PENGU at $800m FDV on $40-50m/year in plush toy revenue is a 20x sales multiple held together by a verbal buyback commitment from luca netz. no smart contract, no on-chain mechanism, just a founder's word. meanwhile $180m in token unlocks are scheduled over the next 2 years. that's $90m/year in programmatic sell pressure against $40-50m/year in discretionary buybacks that can stop any time. the paxos integration putting PENGU on schwab and paypal is the only variable that changes this math. if normie flow from 39m schwab accounts absorbs both the unlocks and creates net buying pressure, the revenue multiple compresses and you win. if it doesn't, you're holding a penguin toy company at a higher multiple than hasbro with worse governance guarantees. track actual buyback wallet activity, not the promise.

Thank you @pengwinpants for collecting a Six of Swords from Smoke and Mirrors Tarot Scrolls for .107 WETH This one’s about that quiet transition. Leaving the rough waters and heavy stuff behind for calmer days ahead. Slow move forward, but it’s real progress and healing. Feels like the universe saying “you’re on your way.”