It's a Pudgy World 🐧
It's a Pudgy World 🐧
How Pudgy Penguins NFT project beat the controversial past and the long crypto winter to build a brand with shops in some of the largest retail stores in the country.
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NFTs have been rebounding after the winter.
And the penguins were, of course, comfortable with winter.
The Pudgy Penguins floor price of its NFTs has nearly doubled in the past two weeks.
Read: Is NFT winter over?
And now there's a game?
The Pudgy Penguins NFT empire is set to open the gates for its metaverse experience Pudgy World sometime in 2024.
Minted in July 2021, this adorable collection (A collection of 8,888) of penguin-themed NFTs quickly gained attention and captured the hearts of many.
What do they have now?
Executive Advisory Board: Check.
$9 Million in Funding: Check.
Penguin Plushies in Walmart: Check.
Viral Videos: Millions of views. Check.
Now, with billions of views on their GIFs (10 Billion) and ambitions to rival industry giants like Disney and Hello Kitty, Pudgy Penguins CEO, Luca Schnetzler, is leading the charge towards a bright future.
The project offers exclusive experiences and perks to its dedicated holders, fostering a strong community known as "The Huddle" and "Pengus."
Rescuing a Troubled Project
Schnetzler acquired the struggling Pudgy Penguins project in April 2022 for $2.5 million.
The acquisition marked a turning point, salvaging the project from suspicions of rug-pulling by the former founder.
Schnetzler, also known as Luca Netz, took over as CEO, ousting the founders and implementing a strategy focused on emotional attachment, drawing inspiration from franchises like Pokémon and Hello Kitty.
The reach of Pudgy penguins were well beyond the crypto community. That explains the 10 Billion record.
In May 2023, Pudgy Penguins raised $9 million in funding.
Then they introduced the Pudgy Toys.
And also, the Walmart partnership was kind of a big deal.
It took the project beyond its digital realm, to a broader audience.
Physical Pudgy Penguin toys are available in over 2,000 Walmart stores through the Walmart pallet program.
The "Pudgy Toy" collection provide customers with a QR code that grants access to the Pudgy World platform on the zkSync Era blockchain.
“The pallet program is one of the most prestigious places you can get because it gives prime real estate to people walking the floor. It signals Walmart’s belief in the brand and their belief in NFTs and Web3 being a vertical for their retail locations,” says Schnetzler.
A Web2 Approach
While many NFT projects embraced Web3 initiatives, Schnetzler believed that Pudgy Penguins needed a different approach to succeed.
The project aimed to create a real business and adopted a Web2 approach, emphasizing a connection with mainstream audiences.
Expanding Offline
The mix of physical toys with digital experiences (like the Walmart project) attracted new consumers to the NFT collection and the broader Web3 ecosystem.
Leveraging IP
Pudgy Toys offers a unique value proposition by providing real intellectual property (IP) to owners.
Each toy sale includes a perpetual license tied to one of the 16 Pudgy Penguin NFT holders.
Building a Non-Crypto Fanbase
Pudgy Penguins extended its reach beyond the crypto community through Web2 social media platforms.
The project shares animated shorts of the Pudgy Penguins characters on TikTok (5.4 million likes) and Instagram (966k followers), attracting a non-crypto fanbase.
And then Spencer Ventures acquired 144 Pudgy Penguin NFTs:
The Pudgy Bridge
Pudgy Penguins introduced something called Pudgy Bridge, allowing users to transfer their Penguin NFTs across multiple networks effortlessly. Which means, Pudgy Penguins NFTs can seamlessly move from Ethereum to Polygon using popular wallets like MetaMask, Coinbase, or WalletConnect.
What's new? The 'Pudgy World'
Pudgy Penguins have just dropped a sneak peek at Art Basel in sunny Miami for their upcoming 3D browser game, Pudgy World.
The game is set to make its alpha appearance in 2024.
In Pudgy World, the arctic wonderland awaits your exploration.
Penguin NFT holders and owners of their cuddly plushie counterparts can enter this frosty metaverse. Here are the highlights:
Adopt Your Pudgy Friend: Bring your NFT or plushie friend to life as a 3D character.
Free-to-Play: Dive into the icy fun without breaking the ice in your wallet.
Customisation Galore: Want a penguin with a monocle and a top hat? Go for it. Pudgy World lets you personalise your penguin pals.
Epic Storytime: Embark on a chilly adventure following the tales of Pudgy and Peaches, two penguins on an ice-cold journey.
Pudgy World is about to make a splash in 2024, and we can't wait.
TTD Week That Was 📆
Saturday: Free Money. Freedom Visa 🎓
Friday: Hi Gemini 👋🏻
Thursday: Crypto Short Squeeze 🪂
Wednesday: It's Stablecoins' Turn ↩️
Tuesday: Is NFT winter over? 🕵️
Monday: It's all good and up 🔆
TTD Week in Funding 💰
Sona. $6.9 million. Web3 streaming protocol that uses DeFi to put the power back to artists with rewards, auctions and ad-free streaming.
Mocaverse. $11.88 million. Ethereum NFT-based digital identity and loyalty platform. Connects metaverse game worlds, apps, and other Web3 projects.
Babylon. $18 million. Marketplace offering bitcoin as a staking asset, allowing proof-of-stake chains to acquire funding from the capital stored in the largest cryptocurrency.
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