Coinspeaker
Pudgy Penguins NFT Collection Dominates Toy Market with Over 1M Plush Toys Sold
Pudgy Penguins, a popular NFT collection created in 2021, has attained the top ten ranking in terms of volume traded. It has revealed that more than a million Pudgy Penguin plush toys have been sold over the past 12 months.
Expansion and Retail Partnerships
Prior to the sales milestone, the NFT project initially revealed its expansion plan on its X page, announcing that Pudgy Toys with Pudgy World are now available at Target, a retail shopping market. In a video released by the CEO Luca Netz on his X page, he revealed that the company’s plush toy sales have increased in the past year as it keeps expanding around the world.
The expansion continues.
Pudgy Toys with Pudgy World are now available in @Target.
More information below. pic.twitter.com/rOWVx4hTfS
— Pudgy Penguins (@pudgypenguins) May 12, 2024
Luca went further by also revealing plans for upcoming partnerships that will include reordering from retail organizations such as Walmart, corporations like Target, Smiths, and Hot Topic, and specialists in Asia and different countries. He further acknowledged that this surge in sales is his biggest consumer product success ever, stating:
“From a unit basis, that’s my biggest consumer product success ever.”
Furthermore, while still speaking about the milestones the NFT project has achieved in the short term in comparison with others in the space, the CEO mentioned that while other NFTs might be relying on future potential, Pudgy Penguins have already achieved success in real-time. He further mentioned that their project has managed to gain interest from major retailers, which indicates the current success of the project rather than potential future success. He said in the video:
“I have a lot of respect for what other people are doing in space…This is happening now, in real-time; the little guy was able to put this stuff in some of the world’s biggest retailers.”
Pudgy Penguins was acquired by Netz in 2022 after it experienced a rocky start following accusations that the founder was carrying out various rug-pull activities. Since then, the NFT project has continued to grow. The ecosystem now allows holders of NFTs to earn 5% revenue from sales of physical products featuring their unique Penguin.
Outperforming NFT Rivals
The sales activity for the collection surged around mid-February, with the number of sales per day hitting 439. During this period, the items were sold at an average price of 20 ETH. However, following that, the sales volume decreased to around 269 as of the May 6 report. One of the important factors that have boosted NFT sales on its platform is the plush line and announcement of a developing metaverse, which has caused the NFT project to rise above the Bored Ape Yacht Club in floor price earlier this year.
Currently, Pudgy Penguin is ranked 16th on CryptoSlam, an NFT sales trading platform, in the list of the top NFT collectible sales in the last 24 hours.
Pudgy Penguins NFT Collection Dominates Toy Market with Over 1M Plush Toys Sold
