Pudgy Penguins, a popular NFT collection featuring 8,888 adorable penguin avatars, was launched in 2021. The collection gained even more popularity when retail giant Walmart started selling stuffed penguins associated with it.
The CEO of the NFT project, Luca Schnetzler, announced that they have sold over one million Pudgy Penguin toys in the past year. As the initiative expands into stores worldwide, the CEO revealed on May 13th that sales have skyrocketed to over a million units in the last year.
Schnetzler stated, “This sales record comes after the exciting news on May 12th that Pudgy Toys with Pudgy World are now available at the renowned US retailer Target.”
Pudgy Penguins, with its 8,888 vibrant penguin avatars, is a beloved NFT collection that was launched in 2021. In its early stages, the project faced allegations of rug pulling, which negatively affected its reputation. However, in 2022, Schnetzler acquired the brand for $2.5 million.
The popularity of Pudgy Penguins was further boosted by Walmart’s sale of stuffed penguins. The NFT holders of Pudgy Penguins can also earn profits from tangible items that showcase their unique penguins, earning them 5% of net revenues.
According to the NFT marketplace OpenSea, the floor price for the NFT versions of Pudgy Penguins is 12.87 ETH, equivalent to approximately $37,580 at current prices. Recently, Penguin #6873 was the most expensive to sell, fetching 400 ETH, or around $1.17 million, according to OpenSea.
During its peak in February, the collection was selling an impressive 439 units per day, with an average price of 20 ETH. However, as of May 6th, the daily sales numbers had dropped to around 269 units.
In other cryptocurrency news today, there are insights and analysis questioning whether the bears will continue to dominate the crypto market.
