Nfts
More than a million chubby penguin toys sold in the past year
Last updated: May 13, 2024 05:29 EDT | 2 minutes of reading
The Pudgy Penguins non-fungible token (NFT) project has reached a remarkable milestone, with over a million Pudgy Penguin toys sold in the past 12 months.
According to CEO Luca Schnetzler, the popular NFT project has seen a surge in sales, expanding its reach to retailers around the world.
In a recent post onSchnetzler expressed surprise at the Consumer Crypto revolution led by “big flightless birds.”
This sales milestone follows the recent announcement that Pudgy Toys along with Pudgy World are now available at popular US retail giant, Target.
More than 1,000,000 toys sold in the last 12 months @pudgypenguins continues its expansion into retailers around the world.
Who would have thought that the Consumer Crypto revolution was going to be led by big flightless birds. pic.twitter.com/E8jmSICwlt
–Luca Netz 🐧 (@LucaNetz) May 12, 2024
Pudgy Penguin toys continue to grow in popularity
Pudgy Penguins, a collection of 8,888 colorful penguin avatars, gained popularity after its creation in 2021.
The project faced initial challenges, with accusations of tug-of-war against the former founder.
However, in 2022, Schnetzler acquired the brand for $2.5 million, revitalizing its prospects.
The success of Pudgy Penguins extends beyond the digital realm, as plush versions of the adorable penguins are now also available for purchase at retail giants like Walmart and Target.
This decision contributed to the continued triumph of the project.
A unique aspect of Pudgy Penguins is its model that allows NFT holders to earn 5% royalties on net revenue. physical product sales featuring their unique Pudgy Penguin designs.
The NFT releases themselves have increased in value, with a floor price of 12.87 ETH (around $37,580 at current prices) on the OpenSea NFT marketplace.
The highlight of recent sales includes the impressive transaction of Penguin #6873, which was sold for a staggering 400 ETH, the equivalent of approximately $1.17 million, according to OpenSea.
Sales activity for the Pudgy Penguins collection peaked in mid-February, with 439 sales per day at an average price of 20 ETH.
Although sales volumes have decreased slightly since then, the project still maintains a daily average of around 269 sales as of May 6.
In terms of secondary sales over the past seven days, Pudgy Penguins ranks twelfth on NFT sales tracking platform CryptoSlam, with a total value of $2.2 million.
Pudgy Penguins partners with unstoppable domains
In February, the Chubby Penguins in partnership with Unstoppable Domains to introduce “.pudgy” domain names.
The collaboration allows Unstoppable Domains customers to purchase top-level domain names ending in “.pudgy,” which can be associated with Pudgy Penguin NFTs.
The integration introduces many possibilities for domain holders, including the ability to send and receive Web3 messages, make encrypted payments between domain addresses, and collect exclusive utility badges through the new domains.
“We are thrilled to welcome Pudgy Penguins, a true innovator and strong brand, to the Unstoppable Domains family,” said Sandy Carter, COO at Unstoppable Domains.