Hey there, meme coin enthusiasts! If you’ve been keeping an eye on the crypto world, you’ve probably heard about Pudgy Penguins and their incredible comeback. On July 23, 2025, at 11:00 AM UTC, MR SHIFT dropped a fascinating episode of When Shift Happens featuring Luca Netz, the mastermind behind Pudgy Penguins. This interview dives deep into how Luca navigated the wild ups and downs of the crypto market, turning a struggling NFT project into a thriving brand. Let’s break it down!

Surviving the Crypto Crash

Luca didn’t sugarcoat it—watching Pudgy Penguins’ token, $PENGU, drop 90% was tough. The crypto crash hit hard, and even allies questioned his vision. But Luca’s resilience shone through. He compared his journey to big names like Amazon and Robinhood, which also weathered massive dips before bouncing back. “Sometimes the tide just needs to wash itself out,” he said, emphasizing that confidence is key for any entrepreneur. As the market recovered, $PENGU became one of the top-performing altcoins, proving that staying the course pays off.

The Bold Move to Launch a Meme Coin

So, why launch a meme coin tied to an NFT brand? Luca saw potential where others saw chaos. He noticed “shitty IPs and memes” raking in billions while Pudgy Penguins, with its loyal community, was sidelined. His goal? Bring more people into crypto through a licensing vehicle. The $PENGU launch was a whirlwind—five weeks from idea to execution! It was a massive success, with over six million wallets eligible to claim tokens. Luca aimed for wide distribution and transparency, avoiding the typical meme coin trap of early buyers dumping their holdings.

Lessons Learned and Future Plans

Even with the win, Luca admitted the launch wasn’t perfect. He wishes he’d let holders claim tokens in the first hour to avoid early complaints. He also disliked speculators buying NFTs just before the airdrop to cash out. For future projects like Abstract Chain, he’s tweaking the approach—tracking loyal buyers, rewarding top contributors, and avoiding last-minute rushes. This data-driven strategy shows his commitment to fairness and long-term growth.

Building Abstract: A Consumer-Friendly Crypto Portal

Abstract Chain isn’t just another Layer 2 blockchain—it’s Luca’s bet on simplifying crypto for everyday users. He calls it “the best consumer portal in crypto,” outpacing competitors like World App and Coinbase’s Base. With a sleek Portal interface and an upcoming iOS app, Abstract focuses on gaming, social features, and viral loops to make crypto fun again. Luca’s cautious about rushing a token launch, wanting to ensure it competes with top chains before going live. Retention is already “through the roof,” and he’s excited to see where it goes.

The Future of NFTs

Are NFTs making a comeback? Luca thinks so! He sees them as the ultimate digital collectibles, better than physical items in every way. The missing piece? Stablecoin adoption. Once people can spend stablecoins as easily as Apple Pay, Luca predicts an NFT surge. He’s bullish on Pudgy Penguins’ profile picture (PFP) status, saying it’ll outperform staked ETH over the next decade. It’s all about being part of the “cool kids’ table” in crypto!

One Ecosystem, Many Tracks

Pudgy Penguins, $PENGU, and Abstract aren’t separate ventures—they’re parallel tracks under Igloo Inc. Each piece—NFTs as collectibles, $PENGU for virality, and Abstract for infrastructure—drives the mission to onboard the world to crypto. Luca’s vision is clear: build products people love and reward those who stick around. “Everybody who gets into our ecosystem leaves it making money—unless they quit early,” he quipped.

Why This Matters for Meme Coin Fans

This story is a goldmine for anyone into meme tokens. Luca’s journey shows how community, resilience, and smart strategy can turn a niche NFT project into a global brand. Whether you’re hodling $PENGU or exploring new meme coins, take notes from his playbook. Head over to When Shift Happens on YouTube or your favorite podcast platform to catch the full convo—it’s a masterclass in crypto survival!

What do you think about Pudgy Penguins’ comeback? Drop your thoughts in the comments, and let’s chat about the future of meme coins!