Luca Netz, also known as Luca Schnetzler, is an entrepreneur with a background in e-commerce and brand building. He is the CEO and owner of the Pudgy Penguins NFT project and Abstract Chain. ^{[7] [8]}

Career

Netz began his career in 2015 at Ring Doorbell, where he joined a small team of around 20 employees and witnessed its rapid growth to over 2,000 employees by 2016. The experience of seeing a start-up scale so quickly influenced his interest in entrepreneurship. Around the same period, he began experimenting with e-commerce through drop shipping, utilizing Instagram promotions to drive product sales, which provided him with early experience in digital marketing and brand growth.

In 2016, he became CEO of La Gold Cartel, a jewelry company, a role he held until 2018, when he moved on to become CEO of Manners Holdings. While at Manners, he also took on the role of CMO at Von Dutch in 2019, where he applied his marketing strategies to a struggling fashion brand. He left both companies in 2020 and joined LPT Technologies as CEO. In 2021, he became CMO of Gel Blaster, a toy brand, before shifting his focus to the NFT space.

In April 2022, following community dissatisfaction with Pudgy Penguins’ previous leadership, Netz acquired the project for 750 ETH (approximately $2.5 million at the time). As CEO, he reorganized the project under Pudgy Media, centralizing branding and content efforts, and expanded Pudgy’s reach on social media, particularly on Instagram. He introduced initiatives such as Pudgy Toys, penguPins, the Soulbound Token, and a clothing line, while also hosting events like the Pudgy Yacht Party in Miami. Within months, these efforts led to a significant turnaround for the project, including a fourfold increase in its floor price. ^{[1] [2] [3]}

Abstract Chain

Abstract is an Ethereum Layer 2 network designed to support large-scale, consumer-facing blockchain applications with low fees and fast transaction speeds. Built on the ZK Stack, it operates as a zero-knowledge rollup that processes transactions off-chain, batches them, and verifies them on Ethereum using ZK proofs. This approach aims to provide greater scalability while maintaining Ethereum’s security guarantees.

The network is EVM-compatible, allowing most Ethereum-based smart contracts to run with minimal or no modifications. Abstract emphasizes consumer accessibility through simplified onboarding, improved app discoverability, and cohesive ecosystem design. It incorporates zero-knowledge cryptography and a performant data availability layer from Eigen DA to deliver a secure and efficient platform. Rooted in community and cultural engagement, Abstract aims to make blockchain applications more accessible to mainstream users while maintaining robust technical foundations. ^{[4] [5]}

“In short, what we want to do in the Abstract ecosystem is to make it "the most interesting place in the crypto world" and "provide a crypto-friendly experience from 0 to 1." If you log into the Abstract network and experience the current mainnet, we have already achieved this to some extent.The Abstract ecosystem allows third-party integrations and enables users to join in their preferred ways. Unlike other on-chain ecosystems where users can only join through specific processes and methods, our user experience is more open and flexible; if users do not like certain fixed processes, they can skip them.” ^[6]

Interviews

Future Plan

On Ryan Clogg’s podcast in July 2025, Netz discussed his journey with Pudgy Penguins and various business ventures in a conversation that recounted his evolution from a hustler in the internet economy to a successful CEO. He reflected on his initial struggles in the direct-to-consumer space and his eventual entry into the NFT world, where he recognized the potential of Pudgy Penguins as a community-driven brand. After acquiring the brand, he faced significant challenges, including declining revenues resulting from market shifts and increased competition. Nevertheless, he pivoted successfully by focusing on consumer products and leveraging the brand's potential for mass appeal. Netz emphasized the importance of building trust within the community and aligning the organization towards a clear vision, which ultimately led to substantial growth and investor interest. He shared his vision for integrating blockchain technology into the brand's operations to enhance the consumer experience, while emphasizing the need for a streamlined and user-friendly approach to engaging with cryptocurrency and related products. ^[9]

NFT Resurgence

In a discussion with Coinage Media in July 2025, Netz reflected on the successful positioning of his company within the Solana ecosystem. He emphasized the importance of community engagement and the strategic launch of their PENGU token, which aimed to broaden access to their intellectual property and enhance community growth. Netz distinguished the Pudgy Penguins project from others by highlighting their tangible successes and plans for further innovation, projecting significant revenue growth and a focus on legislative engagement to strengthen the crypto landscape. He predicted a resurgence in the NFT market, envisioning that future projects would emphasize collectibles and community building, rather than speculative investments. Overall, he expressed optimism for the future of Pudgy Penguins and the broader cryptocurrency ecosystem, particularly as they look ahead to a pivotal fourth quarter. ^[10]

PENGU Comeback

In the July 2025 episode of the When Shift Happens podcast, featuring Netz, he discussed the complexities of the cryptocurrency space, particularly the recent launch of their memecoin, PENGU. He elaborated on how he aimed to differentiate PENGU by creating a broad distribution strategy to engage a larger community, referencing how 35-65% of top cryptocurrencies are often engineered without genuine support. Throughout the conversation, Netz expressed his commitment to fostering success in both PENGU and the Pudgy Penguins brand, facing challenges such as market fluctuations and criticism regarding the distribution model linked to the coin’s launch. He acknowledged the feedback he received, particularly from his core supporters. He emphasized the need to learn from this experience as they prepare for future initiatives, such as the launch of the abstract token. Overall, Netz’s reflections highlighted the importance of community engagement, brand integrity, and adapting strategies in the evolving landscape of cryptocurrency. ^[11]

Life-Changing Opportunities

On the Ben Leavitt Show in June 2025, Netz discussed the transformation of a faltering NFT project into a prominent global brand. He described how Pudgy Penguins, initially perceived as a niche in the crypto space, evolved into a widely recognized cultural entity, highlighting its broad appeal and successful community engagement without relying on external funding. Their strategic decisions included the launch of a companion memecoin, PENGU, to lower the entry barrier for potential fans while aligning the brand's growth with that of the NFTs and tokens. Abendall engaged with the audience, sharing insights into their innovative approaches, including a new platform, Abstract, which aimed to enhance the user experience in the crypto space. He articulated his vision for achieving a billion-dollar valuation through entertainment projects, such as games or shows, reflecting on the unique relationships they built within the community that set them apart from other NFT projects. ^[12]

Pudgy Penguins Playbook

In an August 2025 interview with Decrypt, Netz discussed the strategy behind Pudgy Penguins' growth and future plans. He highlighted the successful launch of the PENGU token, explaining its purpose was to broaden the ecosystem's accessibility and expand its community reach. Netz differentiated PENGU from typical memecoins by emphasizing its direct connection to the established Pudgy Penguins intellectual property (IP), which provides it with inherent brand value. He also touched on the upcoming launch of the Abstract chain and its native token, stating it would be a community-centric release. Reflecting on the brand's journey since his acquisition, Netz shared his vision for mainstream adoption, which includes integrating the Pudgy Penguins IP into a wide range of consumer products to further solidify its place in popular culture. ^[13]