The blue-chip NFT project, Pudgy Penguins, experienced a remarkable 241% increase in weekly trading volume after sealing a collaboration deal with retail giant Walmart. The week from September 24 to October 1 saw Pudgy Penguins amass $3.32 million in trading volume, marking the highest since July this year, according to The Block’s Data Dashboard.
Walmart’s announcement on September 26, stating that it would sell Pudgy Penguin toys in 2,000 stores, ignited this surge. Each of the 26 toys purchased grants access to the Pudgy World digital gaming platform, where users can engage in games and create their unique “Forever Pudgy” avatar, with a Pudgy toy priced at up to $12.
Pudgy Penguins, a collection of 8,888 cartoon penguins, has accumulated a total trading volume of 190,563 ETH ($321.9 million) and boasts a floor price of 4.9 ETH ($8,270) on the NFT marketplace OpenSea.
The launch of Pudgy Toys in over 2,000 Walmart stores across the U.S. follows the earlier availability of these toys online since May. Pudgy Penguins celebrated this milestone through a tweet, declaring the entry of Web3 into a “Brave New World.”
Each Pudgy Toy comes with a unique birth certificate, allowing users to claim distinct attributes for their digital “Forever Pudgy” character within the Pudgy World online realm, operating on the zkSync Era blockchain. Users can access this virtual environment by scanning a QR code.
Since its launch in 2021, Pudgy Penguins has achieved an impressive $400 million in sales, distinguishing itself through effective social media and experiential marketing strategies that have built and sustained a dedicated audience.
