The popular Pudgy Penguin NFT sets are selling like hotcakes in physical form.
Over a million Pudgy Penguin toys have been sold in the last year, according to Luca Schnetzler, the CEO of the nonfungible token (NFT) initiative.
On May 13, the creator of the well-liked Pudgy Penguins NFT project disclosed that, as the project continues to spread into stores worldwide, sales had skyrocketed to over a million in the last year.
He said, “Who would have thought that fat, flightless birds would lead the Consumer Crypto revolution?”
The revelation on May 12 that Pudgy Toys with Pudgy World were now available at the massive American retailer Target brought in a sales milestone.
Pudgy Penguins is a well-liked NFT collection of 8,888 vibrant penguin avatars that was started in 2021.
The project started off rough, with allegations of rug pull made against the former founder. For $2.5 million, Schnetzler did, however, purchase the brand in 2022.
The retail behemoth Walmart has also started selling stuffed toy versions of the well-known penguins, which has contributed to their appeal.
NFT holders are eligible to receive 5% royalties on net sales proceeds from the tangible goods that include their exclusive Pudgy Penguin, according to Pudgy Penguin’s business strategy.
The collection saw a surge in sales activity in the middle of February, peaking at 439 transactions per day at an average price of 20 ETH. Since then, sales levels have significantly decreased, and as of May 6, there were about 269 transactions every day.
Pudgy Penguins is the twelfth-highest NFT collection in terms of secondary sales over the last seven days, with $2.2 million in sales, according to NFT sales tracking platform CryptoSlam.
Uncategorized The best-selling NFTs are Bitcoin Ordinals, while the most well-liked collection is CryptoPunks.