Luca Schnetzler, CEO of the Pudgy Penguins NFT project, announced the remarkable milestone, expressing astonishment at the unexpected role fat flightless birds have played in the “Consumer Crypto revolution”.
Unexpected Success in Consumer Crypto
Despite a turbulent beginning marked by rug pull accusations against the previous founder, Schnetzler’s acquisition of the brand in 2022 for $2.5 million turned the tide. The success story of Pudgy Penguins extends beyond the digital realm. With recent availability at the United States retail giant Target, the plushies have gained even more traction. Additionally, Walmart’s inclusion of the stuffed toy versions further solidifies the brand’s position in the market.
The market value of Pudgy Penguins NFTs reflects their burgeoning popularity. With a floor price of approximately $37,580 these digital assets have become coveted possessions. Recent transactions, such as Penguin #6873 selling for a staggering $1.17 million, underscore the fervor surrounding the collection.
Top last sales. Source: OpenSea
Sales activity for Pudgy Penguins experienced a meteoric rise in mid-February, peaking at 439 daily transactions with an average price of 20 ETH. While volumes have tapered off slightly since then, hovering around 269 sales per day as of May 6, the project’s momentum remains formidable.
In the bustling landscape of NFTs, Pudgy Penguins have carved out a prominent niche. Ranking as the twelfth highest collection in terms of secondary sales over the past week, with $2.2 million in transactions according to CryptoSlam, it has solidified its position among industry giants. While Bitcoin Ordinals claim the top spot in sales, and CryptoPunks reign as the most sought-after collection, Pudgy Penguins stands as a testament to the enduring allure of digital art and collectibles.
Final Thoughts
Pudgy Penguins is on a path of success, promising a bright future ahead. Its expansion into retail markets and the unwavering support of its collector community position it strongly for leadership in the realm where digital art meets consumer products.