Luca Schnetzler, CEO of the Chubby penguins The nft project announced the notable milestone and expressed its amazement at the unexpected role that fat, flightless birds have played in the “crypto consumer revolution.”
Unexpected success in consumer cryptocurrencies
Despite a turbulent start marked by accusations of tyranny against the previous founder, Schnetzler's acquisition of the brand in 2022 for $2.5 million turned the tide. The Pudgy Penguins success story extends beyond the digital realm. With recent availability at US retail giant Target, plushies have gained even more traction. Additionally, Walmart's inclusion of the plush versions further solidifies the brand's position in the market.
The market value of Pudgy Penguins nfts reflects its growing popularity. With a minimum price of approximately $37,580, these digital assets have become coveted possessions. Recent transactions, such as the sale of Penguin #6873 for a staggering $1.17 million, underscore the fervor surrounding the collection.
Top latest sales. Source: Open Sea
Pudgy Penguins sales activity saw a meteoric rise in mid-February, peaking at 439 daily transactions with an average price of 20 eth. While volumes have declined slightly since then, hovering around 269 sales per day as of May 6, the project's momentum remains formidable.
In the bustling nft landscape, Pudgy Penguins have carved out a notable niche for themselves. Ranking as the 12th highest collection in terms of secondary sales over the past week, with $2.2 million in transactions according to CryptoSlam, it has solidified its position among the industry giants. While bitcoin Ordinals takes the top spot in sales and CryptoPunks reigns as the most sought-after collection, Pudgy Penguins is a testament to the enduring appeal of digital art and collectibles.
Final thoughts
Pudgy Penguins is on the path to success and promises a bright future ahead. His expansion into retail markets and the unwavering support of his community of collectors position him firmly for leadership in the realm where digital art meets consumer products.
