According to the Financial Times, Luca Schnetzler, CEO of NFT project Pudgy Penguins, said that the project will return some of the profits to token holders. The Pudgy Penguins floor price has doubled this month, and the floor price currently reaches 6 ETH. In November, according to a document obtained by The Block, Pudgy Penguins is negotiating with investors for a $10 million seed round of financing, which would value it at $50 million if the financing is completed. Pudgy Penguins chief executive Luca Netz has strenuously denied the financing. The Block said the $10 million round will be funded through a Simple Agreement for Future Equity (SAFE) and will come with tokenized equity. The document shows that Pudgy Penguins may issue tokens in April 2024.