- Featuring 8,888 penguin avatars, Pudgy Penguins NFT collection launched in 2021.
- The fact that retail behemoth Walmart sold stuffed penguins contributed to its popularity.
NFT project CEO Luca Schnetzler reported sales of over one million Pudgy Penguin toys in the last twelve months. As the Pudgy Penguins NFT initiative continues to extend into stores throughout the world, its founder announced on May 13 that sales had skyrocketed to over a million in the last year.
The CEO stated:
“Over 1,000,000 toys sold in the last 12 months as @pudgypenguins continues it’s expansion in retailers all over the world. Who would’ve thought that the Consumer Crypto revolution was going to be lead by fat flightless birds.”
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This sales record comes after the news on May 12 that Pudgy Toys with Pudgy World were now available at the massive US retailer Target.
Featuring 8,888 vibrant penguin avatars, Pudgy Penguins is a well-liked NFT collection launched in 2021. Accusations of rug pulling tainted the project’s early stages, which contributed to its eventual demise. But in 2022, for $2.5 million, Schnetzler purchased the brand.
The fact that retail behemoth Walmart sold stuffed penguins contributed to its popularity. In Pudgy Penguin’s business model, NFT holders may profit from tangible items showcasing their own unique Pudgy Penguin to the tune of 5% of net revenues.
The NFT versions have a floor price of 12.87 ETH, or around $37,580 at current pricing, according to the NFT marketplace OpenSea. Penguin #6873, according to OpenSea, was the most expensive to sell recently, fetching 400 ETH, or around $1.17 million.
At its height in the middle of February, the collection was selling 439 units daily at an average price of 20 ETH. As of May 6, sales numbers had dropped to around 269 per day.
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