TL;DR
- The Pudgy Penguins have sold over a million toys in the last 12 months, reflecting growing popularity.
- They are now available in major retailers both inside and outside the United States. Additionally, they can be purchased at Target.
- Schnetzler’s acquisition of the brand in 2022 for $2.5 million marked a new beginning for the collection, contributing to its current success.
The Pudgy Penguins, an NFT collection featuring penguin avatars, has sold over a million toys in the last 12 months. According to Luca Schnetzler, CEO of the project, this remarkable figure reflects the success and growing demand for the brand.
The expansion of the Pudgy Penguins continues, with the penguins now available in major retailers both inside and outside the United States. The toys, including those from the Pudgy World line, can now be found at the US retail chain Target.
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
The road to success for the Pudgy Penguins has not been easy, with the project facing several challenges, including accusations against the previous founder for unethical activities. However, in 2022, Schnetzler acquired the brand for $2.5 million, marking a new beginning for the collection and contributing to its current success.
Around 269 Pudgy Penguin toys are sold per day
A unique feature of the penguins is their business model, which allows NFT holders to earn 5% royalties on net revenues from sales of physical products featuring their unique Pudgy Penguin. The initiative has generated strong interest among NFT enthusiasts, as they have the opportunity to own a unique digital asset and benefit from its success in the physical world.
In terms of market prices, they have reached impressive figures. According to OpenSea, the lowest price for NFT versions is 12.87 ETH. With record sales of up to 400 ETH per unit.
Despite the success, the project has experienced fluctuations in sales activity over time. While there was a peak in February, with 439 sales per day at an average price of 20 ETH. Daily sales have slightly decreased since then, hovering around 269 sales per day as of May 6. Nevertheless, they remain one of the most significant collections in terms of secondary sales in the NFT market. According to CryptoSlam.
The rise of the Pudgy Penguins is a testament to the power and versatility of NFTs as both digital and physical assets. With a unique combination of innovation and profit potential, it continues to be a dominant force in the NFT market.
