From cute images of chubby penguins, the Pudgy Penguin brand has grown into an entire ecosystem with plushies and its own game.
<h2 class="wp-block-heading" id="what-is-pudgy-penguins-nft-collection”>What is the Pudgy Penguins nft Collection?
The Pudgy Penguins brand was launched in July 2021 by four college friends who decided to ride the wave of nft popularity. ColeThereum created 8,888 Pudgy Penguins nfts, priced at approximately $0.03 each. The collection sold out in 20 minutes at $90 each, netting its creators more than $800,000.
Pudgy Penguins were recognizable compared to other popular nft collections at the time, whose avatars were usually pixelated or attempted to follow new trends. In contrast, 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 lived longer. At the end of 2021, nft prices began to decline along with the decline of the crypto market. Additionally, the community of Pudgy Penguin token holders was disappointed with the creator team's attitude towards their collection.
Led by student Cole Wilman (ColeThereum), the team of creators shared ambitious plans and promised to publish a book and a game about their cute penguins. However, the team never specified a timeline for these projects. His nft collection was delisted from the OpenSea nft marketplace for a while.
The creator, ColeThereum, had no intention of developing 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 exchange rate of that time, hired a team of experienced specialists and started promotion. In a couple of years, Schnetzler managed to turn an initially unpromising resource into a unique ecosystem.
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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.
Holders of Lil Pudgys received the same rights as holders of Pudgy Penguins. They have access to experiences, events and insights on intellectual property licensing, among other benefits.
However, the success of the collection could have been lived longer. At the end of 2021, nft prices began to decline along with the decline of the crypto market. Additionally, the community of Pudgy Penguin token holders was disappointed with the creator 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 Arbitrum and Polygon networks.
Chubby rods
Pudgy Rods were offered as a free nft, and any Pudgy Penguins nft owner 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 swept the market, reaching sales of $500,000 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. As of April 2024, the company has sold more than one million toys, generating revenue of $10 million, and the total number of toys sold twitter.com/LucaNetz/status/1789729571262042328″ target=”_blank” rel=””>It has been exceeded 1 million.
Plump world game
In December 2023, the authors of Pudgy Penguins announced that they were developing a game called Pudgy World, a free, browser-based blockchain 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, senior vice president of the company, the technology made up by your organization's employees will allow the use of new business models and diversify the gaming experience. In this sense, a system to earn cryptocurrencies 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 are a seasoned nft collector or venturing into the world of cryptocurrency for the first time, Pudgy World aims to welcome millions of players to web3 to have fun and forge lasting friendships.”
Michael Lee, senior vice president of growth at Matter Labs
Owners of nft Pudgy Penguins and penguin plush toys can create 3D characters based on their tokens. The developers are also expected to release a mobile version of the game in 2025.
How to buy Pudgy Penguins nft?
There are currently two of the most reliable platforms to purchase Pudgy Penguins nfts. Firstly, users can purchase a token on the official Pudgy Penguins marketplace. It is available on the official website of the project and allows, among other things, to buy a physical penguin toy.
Another most reliable marketplace to buy a penguin is OpenSea. Only nfts are available for purchase on the platform.
What is the dynamic of the chubby penguins now?
OpenSea data shows that the minimum price for Pudgy Penguins is currently 7,985 Ether (eth) or approximately $28,200 at the current price.
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 in the last 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 pay attention to nfts now?
In 2021, nfts became trendy on the Internet. The excitement grew so much that some photographs sold for hundreds of thousands of dollars. And suddenly people were left without easy money. The price of collectible nfts fell by an average of 90% and that of ordinary nfts by 99.99%.
Prices for some of the most popular nft collections have dropped noticeably recently. For example, the Bored Ape Yacht Club (BAYC) minimum collection cost has fallen by 20% in the last 30 days, indicating a possible drop in demand for these assets.
However, some nft projects, including Pudgy Penguins, are looking to maintain interest in their tokens by launching additional collections, games, or even physical products. Therefore, the future of Pudgy Penguins may look quite bright for long-term holders.
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