Nfts
Daehong signs licensing deal with NFT project Pudgy Penguins
[Courtesy of Daehong Communications]
Daehong Communications, an advertising agency under Lotte Group, announced on Friday that it has signed a licensing agreement with Pudgy Penguins. Pudgy Penguins, an NFT collection featuring 8,888 unique penguin characters, has become a notable success in North America.
Since its launch, Pudgy Penguins has become a recognized brand, particularly with its Pudgy Toys range. These toys, leveraging Pudgy Penguins intellectual property (IP), debuted in September last year and have since achieved over $10 million in sales at major US retailers like Walmart and Amazon.
Daehong plans to introduce limited-edition branded products using Pudgy Penguins intellectual property to the South Korean market this summer. Additionally, it will operate offline pop-up stores to further engage consumers.
The licensing agreement marks the start of a collaborative marketing effort between Daehong and Pudgy Penguins across various industries, the Korean company said.
By impulse
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