From cute photos of chubby penguins, the Fuzzy Penguin brand has grown into a full-fledged ecosystem complete with plush toys and its own games.
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 created 8,888 NFTs of Pudgy Penguins at a price of approximately $0.03 each. The collection sold out in 20 minutes at $90 each, earning the creator more than $800,000.
Pudgy Penguins was recognizable compared to other popular NFT collections at the time, where avatars were typically pixelated or tried to follow new trends. Instead, Pudgy Penguins feature bright colors, small 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, consisting of 22,222 images of smaller versions of the original penguins.
But the success may have lasted longer. At the end of 2021, along with the decline of the cryptocurrency market, NFT prices also began to fall. Additionally, the community of Pudgy Penguin token holders was disappointed with the creator team’s attitude towards their collection.
The team of creators, led by student Cole Wilman (ColeThereum), shared grandiose plans and promised to release books and games about the cute penguins. However, the team has not specified a timeline for these projects. Their NFT collection has been removed from the OpenSea NFT Marketplace for some time.
Creator Colterium had no intention of developing the project, and Luka Schnetzler (Luca Netz) appeared in April 2022. He purchased the rights from the developer for 750 ETH, or $2.5 million at the exchange rate at the time, hired a team of experienced professionals and began promoting it. In just a few years, Schnetzler succeeded in turning an initially unpromising resource into a unique ecosystem.
Chunky Penguin Ecosystem
lil furgis
Following the original Pudgy Penguins collection, the developers released Lil Pudgys, a collection of 22,222 NFTs featuring hand-drawn Pudgys.
Lil Pudgys holders have the same rights as Pudgy Penguins holders. They have access to IP licensing experiences, events, and perspectives, among other things.
But the collection’s success could have lasted even longer. At the end of 2021, along with the decline of the cryptocurrency market, NFT prices also began to fall. Moreover, the community of Pudgy Penguin token holders was disappointed with the creator team’s attitude towards their collection.
In 2023, an agreement was signed to cooperate with the LayerZero project, thanks to which Little Pudgys appeared on the Arbitrum and Polygon networks.
chunky stick
Pudgy Rods were given away as free NFTs, and owners of Pudgy Penguins NFTs can claim their mints until August 30, 2021.
chunky toy
In May 2023, the project team revealed the launch of the Pudgy Toys collection. The doll quickly became a hit in the market, generating $500,000 in sales in just two days.
One thing that sets Pudgy Toys apart is that each toy comes with a digital interface called Pudgy World.
The company began selling the chubby penguins in 2,000 Walmart stores starting in September 2023. As of April 2024, the company has sold more than 1 million toys, generating $10 million in revenue, and the total number of toys sold is exceeded 1 million.
chunky world games
In December 2023, the author of Pudgy Penguins announced that he was developing a game called Pudgy World. Pudgy World is a free browser-based blockchain game that tells the adventure story of two penguins. The developers integrated the Ethereum network scaling protocol zkSync, released by Matter Labs, into the software.
According to Michael Lee, the company’s senior vice president, the technology developed by the company’s employees will enable it to leverage new business models and diversify the gaming experience. Accordingly, a system to acquire cryptocurrency based on Pudgy World will be implemented.
“Working with Walmart to launch Pudgy World is an incredible testament to the capabilities of our joint development team. “Whether you’re a seasoned NFT collector or trying crypto for the first time, Pudgy World aims to bring millions of gamers to the web3 to have fun and build lasting friendships.”
Michael Lee, SVP of Growth, Matter Labs
Owners of NFT Pudgy Penguins and plush penguin 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 purchase Pudgy Penguins NFTs?
There are currently two most reliable platforms for purchasing Pudgy Penguins NFTs. First of all, users can purchase tokens on the official Pudgy Penguins marketplace. It is available on the official website of the project, where, among other things, you can purchase a real penguin toy.
Another most reliable marketplace for purchasing penguins is OpenSea. Only NFTs can be purchased on the platform.
What are the current Pudgy Penguins dynamics?
According to data from OpenSea, the minimum price for Pudgy Penguins is currently 7.985 Ether (ETH), or about $28,200 at the current exchange rate.
According to the Pudgy Penguin OpenSea page, the most expensive sale recently was Penguin #6873, which sold for a whopping 400 ETH, or about $1.4 million.
The CryptoSlam platform also notes that Pudgy Penguins ranked as the 20th most expensive NFT collection, with $6 million in sales in the past 30 days. NFT #5019 was the 13th most expensive NFT sold in the past 30 days. Tokens were purchased for $46,104.
Should users now pay attention to NFTs?
In 2021, NFTs have become trendy on the internet. The excitement became so strong that some pictures sold for hundreds of thousands of dollars. Then people suddenly ran out of money easily. Collectible NFT prices fell by an average of 90%, and regular NFT prices fell by 99.99%.
Prices for some of the most popular NFT collections have dropped significantly recently. For example, the minimum cost of the Bored Ape Yacht Club (BAYC) collection has fallen 20% in the past 30 days, suggesting demand for these assets may be decreasing.
However, some NFT projects, including Pudgy Penguins, are looking to maintain interest in their tokens by releasing additional collections, games, or physical goods. So, for long-term holders, the future of the Pudgy Penguins may look very bright.