NFTs
Pudgy Penguins NFT Collection Path
From cute photos of chubby penguins, the Pudgy Penguin brand has become a complete ecosystem with plush toys and its own game.
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 has created 8,888 Pudgy Penguins NFTs, priced at around $0.03 each. The collection sold out in 20 minutes at $90 each, earning its creators more than $800,000.
Pudgy Penguins were recognizable compared to other popular NFT collections at the time, whose avatars were often pixelated or tried to follow new trends. Instead, Pudgy 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, made up of 22,222 images of smaller versions of the original penguins.
However, the success could have been more vivid. Towards the end of 2021, NFT prices began to fall along with the crypto market decline. Furthermore, the community of Pudgy Penguin token holders was disappointed with the attitude of the creator team towards their collection.
Led by student Cole Wilman (ColeThereum), the team of creators shared grandiose plans and promised to release a book and game about their cute penguins. However, the team never specified a timeline for these projects. Your NFT collection has been removed from Open sea NFT market 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 at the time, hired a team of experienced specialists and started promotion. In a few years, Schnetzler managed to transform an initially unpromising resource into a unique ecosystem.
This is Luca Netz
He grew up as a homeless kid
But at 23, he bought Pudgy Penguins for $2.5 million
Here’s the untold story behind their success:
1/11 pic.twitter.com/4j2btxq7mi
-Pix🔎 (@PixSorcerer) June 17, 2024
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.
Source: Open sea
Lil Pudgys holders received the same rights as Pudgy Penguins holders. They have access to IP licensing experiences, events and perspectives, among other benefits.
However, the success of the collection could have been more vivid. Towards the end of 2021, NFT prices began to fall along with the crypto market decline. Furthermore, the community of Pudgy Penguin token holders was disappointed with the attitude of the creator team towards their collection.
In 2023, a collaboration agreement was signed with the LayerZero project, thanks to which Little Pudgys appeared on Arbitration It is Polygon networks.
Chubby sticks
Pudgy Rods were offered for free NFTand any Pudgy Penguins NFT owner could claim the coin until August 30, 2021.
Chubby Toys
In May 2023, the project team revealed the launch of the Pudgy Toys collection. The stuffed animals quickly moved the market, reaching US$500,000 in sales 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 a million toys, generating revenue of $10 million, and the total number of toys sold exceeded 1 million.
Pudgy 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. Developers integrated the Ethereum zkSync network scaling protocol, released by Matter Labs, into the software.
According to Michael Lee, the company’s senior vice president, the technology created by your organization’s employees will enable the use of new business models and diversify the gaming experience. In this sense, a cryptocurrency earning system 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 crypto for the first time, Pudgy World aims to welcome millions of gamers to web3 to have fun as well as create lasting friendships.”
Michael Lee, SVP 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 NFTs?
There are currently two of the most reliable platforms for purchasing Pudgy Penguins NFTs. Firstly, users can purchase a token on the official Pudgy Penguins marketplace. It is available on the project’s official website and allows, among other things, the purchase of a physical penguin toy.
Another more reliable marketplace to buy a penguin is OpenSea. Only NFTs are available for purchase on the platform.
What are the dynamics of the Pudgy Penguins now?
Data from OpenSea shows that the minimum price for Pudgy Penguins is currently 7,985 Ether (ETH) or approximately $28,200 at current rates.
The Pudgy Penguin OpenSea page shows that the most expensive recent sale was Penguin #6873, which sold for a whopping 400 ETH, or about $1.4 million.
The CryptoSlam platform also suggests that Pudgy Penguins is 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 fashionable on the Internet. The excitement grew so intense that some photos were sold for hundreds of thousands of dollars. And then people suddenly ran out of easy money. The price of collectible NFTs fell by an average of 90% and of regular NFTs by 99.99%.
Prices for some of the most popular NFT collections have dropped noticeably recently. For example, the minimum cost of the Bored Ape Yacht Club (BAYC) revenue fell 20% in the last 30 days, indicating a possible drop in demand for these assets.
However, some NFT projects, including Pudgy Penguins, seek to maintain interest in their tokens by releasing additional collections, games, or even physical goods. Therefore, the future of Pudgy Penguins may look quite bright for long-term holders.