Pudgy Penguins NFT Launches Toys in 2,000 Walmart Stores, Trading Volume Surges by 530%
Pudgy Penguins NFT Collection Launches Pudgy Toys in Walmart Stores
The popular NFT collection, Pudgy Penguins, has made a significant move by launching its Pudgy Toys collection in 2,000 Walmart stores across the United States. This collaboration with Walmart is expected to boost the exposure of the toys, which have been available online since May.
Each Pudgy Toy comes with a unique birth certificate that allows owners to claim exclusive traits for their digital ‘Forever Pudgy’ character within Pudgy World. To unlock these traits in the online virtual world built on the zkSync Era blockchain, users can simply scan a QR code.
Brittany Smith, the Vice President of Merchandising – Toys at Walmart U.S., expressed enthusiasm about the partnership, stating, “Pudgy Penguins is bridging the gap between our physical and digital worlds of play for kids in a really engaging way.”
The announcement of the collaboration with Walmart has resulted in a surge in trading volume for Pudgy Penguins. According to data from CoinGecko, the NFT collection has seen a trading volume of 1,033 ETH (equivalent to around $1.6 million) in the past day, marking a significant increase of 530%. The floor price of the collection has also risen by over 11% to 5.2 ETH ($8,200), and its market cap has reached 46,008 ETH ($73 million).
Luca Netz, the CEO of Pudgy Penguins, sees Walmart’s inclusion of Pudgy Toys in their stores as evidence that consumers are interested in engaging with digital brands. He stated, “Walmart’s inclusion of Pudgy Toys in their stores is a testament to the evolution of how consumers engage with brands in the digital era.”
Walmart’s position as the largest retailer in the U.S. and one of the world’s largest companies by revenue in 2022 is expected to significantly enhance the popularity of the Pudgy Penguins collection beyond the crypto industry. Pudgy World, an immersive multiplayer digital environment, offers users the opportunity to explore, play games, and fully customize their Forever Pudgy character.
Since its launch in 2021, Pudgy Penguins has generated an impressive $400 million in sales. This success can be attributed to the brand’s effective utilization of social media and experiential marketing techniques, setting it apart from other NFT collections that have struggled to gain traction.
While mainstream media often dismisses NFTs due to their volatile price performance and perceived lack of demand in a competitive market, the integration of physical products into established platforms presents an opportunity for NFT collections to engage with a broader audience and build stronger brands.
Walmart will stock 16 different types of Pudgy Toys, with prices ranging from $2.99 to $11.97. These toys are manufactured by PMI Kids’ World, a well-known brand that produces toys based on popular cartoons and shows like WWE.
The collaboration between Pudgy Penguins and Walmart is a significant milestone for the NFT industry, as it demonstrates the increasing recognition and integration of digital brands into traditional retail spaces. As the partnership unfolds, it will be interesting to see how NFT collections continue to evolve and engage with a wider audience.
