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From cute pictures of chubby penguins, the Pudgy Penguin brand has evolved into a comprehensive ecosystem featuring plush toys and its own game.
What is Pudgy Penguins NFT Collection?
The Pudgy Penguins brand was launched in July 2021 by four college friends amid the NFT boom. ColeThereum created 8,888 NFTs of Pudgy Penguins, each priced at about $0.03. The collection sold out in 20 minutes at $90 apiece, generating over $800,000 for its creators.
Pudgy Penguins stood out with their bright colors, tiny beaks, and round faces, unlike other popular NFT collections that were pixelated or trend-following. The first collection’s success led to a new series, Lil Pudgy’s, featuring 22,222 smaller penguins.
Pudgy Penguins Ecosystem
Lil Pudgys
Following the original Pudgy Penguins collection, the developers introduced Lil Pudgys, a collection of 22,222 NFTs featuring hand-drawn Pudgys. Lil Pudgys holders enjoy the same rights as Pudgy Penguins holders, including access to IP licensing, events, and other benefits.
Despite initial success, the end of 2021 saw a decline in NFT prices and dissatisfaction within the Pudgy Penguins community regarding the creators’ management. In 2023, an agreement was signed to collaborate with the LayerZero project, bringing Lil Pudgys to the Arbitrum and Polygon networks.
Pudgy Rods
Pudgy Rods were offered as a free NFT, available for minting by any Pudgy Penguins NFT owner until August 30, 2021.
Pudgy Toys
In May 2023, the project team launched the Pudgy Toys collection. These stuffed animals quickly gained popularity, achieving $500,000 in sales within two days. Each toy comes with a digital interface called Pudgy World.
By September 2023, Pudgy Toys were sold in 2,000 Walmart stores. As of April 2024, over a million toys had been sold, generating $10 million in revenue.
Pudgy World Game
In December 2023, the creators announced the development of Pudgy World, a free browser-based blockchain game telling the adventures of two penguins. The game integrates Ethereum’s zkSync scaling protocol, allowing new business models and diversified gaming experiences.
“The launch of Pudgy World, in collaboration with Walmart, stands as a testament to the capabilities of our joint development teams. Whether you’re a seasoned NFT collector or new to crypto, Pudgy World aims to welcome millions of gamers into web3 to have fun and forge lasting friendships.”
Owners of Pudgy Penguins NFTs and plush toys can create 3D characters based on their tokens. A mobile version of the game is expected to launch in 2025.
How to Buy Pudgy Penguins NFTs?
There are two trusted platforms for purchasing Pudgy Penguins NFTs. One is the official Pudgy Penguins marketplace on their website, which also offers physical penguin toys. The other is OpenSea, where only NFTs are available for purchase.
What are the Dynamics of Pudgy Penguins Now?
Data from OpenSea shows that the minimum price for Pudgy Penguins is currently 7.985 Ether (ETH), approximately $28,200. The most expensive recent sale was Penguin #6873, sold for 400 ETH, or about $1.4 million.
According to CryptoSlam, Pudgy Penguins ranks as the 20th most expensive NFT collection in the last 30 days, with $6 million in sales. NFT #5019 was the 13th most expensive NFT sold in the same period, purchased for $46,104.
Should Users Pay Attention to NFTs Now?
In 2021, NFTs became a hot topic, with some selling for hundreds of thousands of dollars. However, the excitement waned, and the prices of collectible NFTs fell by an average of 90%, with ordinary NFTs dropping by 99.99%.
Recently, prices for popular NFT collections have dropped significantly. For example, the minimum cost of the Bored Ape Yacht Club (BAYC) collection has fallen by 20% in the last 30 days, indicating a potential decrease in demand.
However, some NFT projects, like Pudgy Penguins, continue to maintain interest by launching additional collections, games, and physical goods. Thus, Pudgy Penguins may still offer potential for long-term holders.
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