Pudgy Penguins CEO Shares Story of Building a Sustainable Web3 Business
After facing several scandals involving its founders last year, Pudgy Penguins was able to make an incredible V-shaped recovery thanks largely due its CEO's efforts at rebuilding trust within the community after founder scandals caused it so much damage before
Jan. 07, 2023 4:15AM
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A photo of penguins standing atop an iceberg surrounded by blue ocean water below them
In recent months, the story of Pudgy Penguins @pudgypenguins has been making headlines in Japan. After founder scandals caused the company to plummet, their CEO has spoken out about how they were able to recover and build a sustainable Web3 business. Pudgy Penguins is an online platform that allows users to buy and sell digital assets such as cryptocurrency, collectibles, and gaming items. It was founded in 2017 by two entrepreneurs with a vision of creating an open marketplace for digital assets. However, in 2020 the company faced several scandals involving its founders. This led to a dramatic drop in user confidence and trust in the platform, causing it to crash from its peak value of $1 billion USD down to just $200 million USD. The company’s CEO then took over operations and set out on a mission to rebuild trust with users and investors alike. He began by focusing on improving customer service and providing transparency about how funds were being used within the company. He also implemented new security measures such as multi-factor authentication for all transactions on the platform. In addition, he worked hard to build relationships with other industry leaders and influencers who could help spread awareness about Pudgy Penguins’ services. Through these efforts, they were able to regain user confidence and increase their user base once again. Today, Pudgy Penguins is back up to its peak value of $1 billion USD thanks largely due to their CEO’s efforts at rebuilding trust within the community after founder scandals caused it so much damage before. To learn more about this incredible V-shaped recovery story read @nftnow's article here https://t.co/AJTWa8f6l9 .