Another 50 penguin loans to be liquidated in next 24 hours. This is the most overly financialized PFP project there is imo. Felt like they completely pivoted away from their NFTs and true collectors and fully into financial speak, memecoin shilling, airdrop hype, IPO hype, etc. I think they let the short-term metas drive their long-term business and this has the potential to be the largest self-destruct we've seen in awhile. They have a great brand and make lots of revenue on toys, games, etc. They will survive as a company... but I've yet to see a reason why their NFTs don't essentially go to zero. From a crypto perspective, they have become a memecoin brand in my eyes and given their fans every reason to buy the fungible token over the NFTs. All this as we also now see a secular decline in memecoins and a move away from any token that doesn't have fundamentals and revenue to support it's valuation. I'm not fudding, I just don't like it. Very open to hearing any additional thoughts on why this isn't the case.