The project first launched in July 2021 and in January 2022, the project was taken over by a new management team. Currently, CEO and Los Angeles-based entrepreneur Luca Netz is running the Pudgy Penguins show. There are also 6 other core members including the CTO, CCO, CMO, CLO, a Head of Operations and a senior advisor. The current ownership group bought the rights to Pudgy Penguins for 750 ETH (~$2 million at the time), which includes rights to the royalties as well.