Coinspeaker
NFT Project Pudgy Penguins Sees 241% Surge in Trading Volume after Walmart Integration
The weekly trading volume of the prominent NFT project, Pudgy Penguins, experienced a significant surge after its collaboration with the retail giant Walmart. Between September 24 and October 1, Pudgy Penguins recorded a trading volume of $3.32 million, marking a remarkable 241% increase compared to the previous week. This weekly volume represents the highest figure for Pudgy Penguins since July of this year.
On September 26th, Walmart unveiled plans to stock Pudgy Penguin-branded toys in 2,000 of its stores. The purchase of one of these 26 toys grants customers access to a digital gaming platform called Pudgy World, where they can engage in games and craft a “Forever Pudgy” avatar. These Pudgy toys have a maximum price tag of $12.
While these toys have been available online since May, their appearance in Walmart stores is expected to significantly increase their visibility. Each Pudgy Toy will be accompanied by a unique birth certificate, allowing owners to claim exclusive attributes for their digital ‘Forever Pudgy’ character within Pudgy World. Users can unlock these attributes in an online virtual environment based on the zkSync Era blockchain by scanning a QR code.
Brittany Smith, vice president of merchandising – toys, Walmart US stated that “Pudgy Penguins is bridging the gap between our physical and digital worlds of play for kids in a really engaging way.”
Walmart Shall Boost the Popularity of NFT Project Pudgy Penguins
Walmart is one of the largest retailers in the US. Besides, it is sure to amplify the collection’s appeal well beyond the crypto community.
Pudgy World, an immersive multiplayer digital realm, offers users the chance to explore, partake in games, and entirely personalize their Forever Pudgy character.
Since its launch in 2021, Pudgy Penguins has amassed an impressive $400 million in sales. The brand’s triumph can be credited to its adept utilization of social media and experiential marketing strategies. This set it apart from other NFT collections that grappled to gain traction.
While mainstream media often downplay NFTs due to their volatile price fluctuations and perceived lack of demand in a competitive market, the integration of physical products into established platforms creates an avenue for NFT collections to connect with a broader audience and cultivate stronger brand identities.
Walmart will offer a variety of 16 Pudgy Toys, priced from $2.99 to $11.97. PMI Kids’ World, a well-known brand renowned for crafting toys based on popular cartoons and shows such as WWE, is behind producing the Pudgy toys.
NFT Project Pudgy Penguins Sees 241% Surge in Trading Volume after Walmart Integration
