Nfts
Pudgy Penguins NFT Collection Path
From cute images of chubby penguins, the Pudgy Penguin brand has become a full-fledged ecosystem with stuffed animals and its own game.
What is the Pudgy Penguins NFT collection?
The Pudgy Penguins brand was launched in July 2021 by four university friends who decided to ride the wave of popularity of NFTs. ColeThereum has created 8,888 Pudgy Penguins NFTs, with a price of approximately $0.03 each. The collection sold out in 20 minutes at $90 a piece, netting its creators more than $800,000.
Pudgy Penguins were recognizable compared to other popular NFT collections of the time, whose avatars were usually pixelated or attempted to follow new trends. Instead, the chubby penguins featured bright colors, tiny beaks and round faces.
The first Pudgy Penguins collection was so successful that shortly after its debut, the creators released a new collection, Lil Pudgy’s, consisting of 22,222 images of smaller versions of the original penguins.
However, the success could have been more experienced. In late 2021, NFT prices began to decline alongside the decline of the crypto market. Additionally, the Pudgy Penguin token holder community was disappointed with the creative team’s attitude towards their collection.
Led by student Cole Wilman (ColeThereum), the creative team shared grandiose plans and promised to release a book and game about their adorable penguins. However, the team never specified a timeline for these projects. Their NFT collection was delisted Open Sea NFT market for some time.
The creator, ColeThereum, had no plans to develop the project, and in April 2022, Luca Schnetzler (Luca Netz) appeared. He bought the rights from the developer for 750 ETH, or $2.5 million at the then exchange rate, hired a team of experienced specialists and began promotion. In just a few years, Schnetzler managed to transform an initially unpromising resource into a unique ecosystem.
It’s Luca Netz.
He grew up as a homeless child
But at 23, he bought Pudgy Penguins for $2.5 million
Here is the little-known story of its success:
1/11 pic.twitter.com/4j2btxq7mi
– Pix🔎 (@PixSorcerer) June 17, 2024
Chubby penguin ecosystem
Lil Pudgys
Following the original Pudgy Penguins collection, the developers introduced Lil Pudgys, a collection of 22,222 NFTs featuring hand-drawn Pudgys.
Source: Open Sea
Owners of Lil Pudgys received the same rights as owners of Pudgy Penguins. They have access to experiences, events, and insights into intellectual property licensing, among other benefits.
However, the success of the collection could have been better experienced. In late 2021, NFT prices began to decline alongside the decline of the crypto market. Additionally, the Pudgy Penguin token holder community was disappointed by the creative team’s attitude towards their collection.
In 2023, an agreement was signed to collaborate with the LayerZero project, thanks to which Little Pudgys appeared on the Arbitration And Polygon networks.
Chubby stems
Pudgy Rods were given away for free NFTand any owner of the Pudgy Penguins NFT could claim mint until August 30, 2021.
chubby toys
In May 2023, the project team revealed the launch of the Pudgy Toys collection. The stuffed animals quickly created a buzz in the market, reaching $500,000 in sales in just two days.
One feature that sets Pudgy Toys apart is that each toy comes with a digital interface called Pudgy World.
The company began selling chubby penguins in 2,000 Walmart stores in September 2023. By April 2024, the company had sold more than a million toys, generating $10 million in revenue, and the total number of toys sold exceeded 1 million.
Chubby World Game
In December 2023, the authors of Pudgy Penguins announcement that they were developing a game called Pudgy World, a free blockchain browser game that tells the story of the adventures of two penguins. The developers integrated the Ethereum network scaling protocol zkSync, launched by Matter Labs, into the software.
According to Michael Lee, the company’s senior vice president, technology invented by employees of its organization will enable the use of new business models and diversify the gaming experience. In this regard, a system for earning cryptocurrency based on Pudgy World will be implemented.
“The launch of Pudgy World, in collaboration with Walmart, is a remarkable testament to the capabilities of our joint development teams. Whether you’re a seasoned NFT collector or venturing into crypto for the first time, Pudgy World aims to welcome millions of gamers to Web3 to have fun and build lasting friendships.
Michael Lee, SVP of Growth at Matter Labs
Owners of NFT Pudgy Penguins and stuffed penguin toys can create 3D characters based on their tokens. The developers are also expected to launch a mobile version of the game in 2025.
How to buy Pudgy Penguins NFTs?
There are currently two of the most reliable platforms for purchasing Pudgy Penguins NFTs. First, users can purchase a token from the official Pudgy Penguins marketplace. It is available on the official project website and allows, among other things, to purchase a physical penguin toy.
OpenSea is another most reliable marketplace for buying a penguin. Only NFTs are available for purchase on the platform.
What is the momentum of the Pudgy Penguins now?
Data from OpenSea shows that the minimum price for Pudgy Penguins is currently 7,985 Ether (ETH) or approximately $28,200 at current prices.
The Pudgy Penguin OpenSea page shows that the most expensive recent sale was Penguin #6873, which sold for a whopping 400 ETH, or around $1.4 million.
The CryptoSlam platform also suggests that Pudgy Penguins ranks as the 20th most expensive NFT collection over the past 30 days, with $6 million in sales. NFT #5019 was the 13th most expensive NFT sold in the last 30 days. The token was purchased for $46,104.
Should users now pay attention to NFTs?
In 2021, NFTs have become trendy on the Internet. The enthusiasm became so intense that some images were sold for hundreds of thousands of dollars. And then people suddenly ran out of easy money. The price of collectible NFTs has fallen by an average of 90% and that of regular NFTs by 99.99%.
The prices of some of the most popular NFT collections have dropped noticeably recently. For example, the minimum cost of the Bored Ape Yacht Club (BAYC) collection has fallen by 20% over the past 30 days, indicating a possible decline in demand for these assets.
However, some NFT projects, including Pudgy Penguins, seek to maintain interest in their tokens by launching additional collections, games, or even physical goods. Therefore, the future of the Pudgy Penguins may look quite bright for long-term holders.