Entrepreneur Luca Netz has become the owner of the Pudgy Penguins NFT collection after a 750 ETH deal.

The Pudgy Penguins collection of 8,888 Ethereum NFTs has announced that the project is off to a new start with its new owner Luca Netz after a $2.5 million deal, which grants him control and royalties from secondary sales.

According to a tweet on its official account, Pudgy Penguins said it has begun a new chapter with a “new team, new roadmap, new heights.”

In the last 24 hours, bitcoin has been down by 1.4%, with a current price of $45,942.61 as of the time of writing this. Within 24 hours, bitcoin experienced a $45,834.52 low and $47,322.09 high. The trading volume of bitcoin in the last 24 hours is $24,915,974,891. The current market capitalization of bitcoin is $873,026,819,666. Currently, $19.00M bitcoins are in circulation.

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The Pudgy Penguins project had gone through a series of controversies, resulting in the founders being voted out following a controversial tweet by Twitter user and Pudgy Penguins owner @9x9x9eth.

@9x9x9eth had tweeted that Pudgy Penguins co-founder Cole Villemain did not deliver on the project’s promises to the community, including a game, a token, an educational book on NFTs, etc.

It was amidst these controversies that Netz first made public his buyout offer of 750 ETH.

While responding to news about the acquisition, Netz said, “Looking forward to spreading love across the Meta.”