Roundup: Pudgy Penguins is on the brink of collapse, the AP is getting into NFTs, and a DAO is trying to buy a golf course
Moriah Costa

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📰 In the Headlines

Behind the collapse of Pudgy Penguins  

• Pudgy Penguins, one of the most successful early NFT projects, is on the brink of collapse. Owners are dissatisfied with the project’s founders, who haven’t lived up to their promises.

• Those promises included new drops and a video game. At the same time, rival Bored Apes Yacht Club has signed brand deals and is in the process of creating a game.

(Not-so) Fun Fact: The average price of a Penguin has plummeted, dropping from a peak of more than $25k over the summer to just $5k this week.

The Associated Press is launching an NFT marketplace for its best photos  

• The marketplace will offer NFTs of works from the AP’s photographers. The NFTs will also contain metadata offering info about where and when the photo was taken.

• The wire service teamed up with Xooa to launch the service, which runs on the “environmentally friendly” Polygon blockchain. AP will use the proceeds to fund its news program.  

Fun Fact: As part of the launch, the AP is planning a number of “Pulitzer Drops” for photos that have won a Pulitzer Prize, which will be launched in smaller batches.

A DAO sold $10M in NFTs to buy a real-world golf course  

• LinksDAO, a decentralized group created with the purpose of buying a golf course for its members, sold out of its first batch of NFTs and raked in $10.5m. The NFTs offer access to membership in the future golf course.  

• The organization plans to issue a governance token called LINKS in the near future. The token will be used to assign voting power to the members of the DAO.  

Fun Fact: PGA-certified courses can cost tens of millions of dollars to purchase, and they aren’t cheap to maintain either. This initial NFT drop is a strong initial fundraising effort, but the founders say they’ll need more cash to make the project work.    

🔥 From the Otis Collection

• This week in the Otis Discord, we’re talking about: Buyout offers, NFTs, and more — join the conversation.  

• Otis received a second buyout offer of $72k for for the 1985 Air Jordan 1s. The offer would net investors $72.15/ share, representing a 118.6% gain to the Drop Value ($33k or $33 / share) and 73.9% premium to the market cap at trading pause on 1/11/21 ($41.5k or $41.50 / share). Shareholders have until Sunday, 5pm ET.

• A 1st Edition Charizard Pokémon Card (1999 1st Edition Shadowless Holo PSA 10) sold for $252k at Goldin Auctions on Sunday. Otis has the same Charizard card open for investment at $236k ($1 / share), which will be closing soon.

• Serena Williams made another record – her Elite Rookie Card (2003 NetPro Elite Glossy #G2 /100 PSA GEM MT 10) sold for $55.2k at Goldin Auctions on Sunday, an all-time record for any women’s sports card. The same card graded BGS 9.5 is trading on Otis.

• A Mike Trout Rookie Card (​​2009 Bowman Chrome Draft Picks & Prospects Refractor #BDPP89 /500 BGS GEM MINT 9.5/BGS 10) sold for $46.8k at Goldin Auctions on Sunday. Otis has the same card trading at a market cap of $36,640 at market close on 1/13.


• Tracey Emin is the ninth artist to receive the prestigious annual Art Icon award. Emin’s Love Is What You Want, 2011 is trading on Otis.  

• Banksy graffitied a miniature model of a stable at a British seaside museum, helping to bring in record numbers for the Peterborough Museum in England. Banksy’s Police Car, 2003 is trading on Otis.

 🔖 From Otis Magazine

This week on Otis Magazine, we’re exploring why Japanese entertainment has found such appeal for so many generations in the United States.

Read: The Secrets Behind Japanese Entertainment’s Persistent Appeal

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