In a bear market that saw the NFT sector struggling, Pudgy Penguins managed to stand out and defy the trend. While other NFT collections were witnessing falling prices and declining trading volumes, Pudgy Penguins experienced a surge in interest and activity.
One of the major factors contributing to Pudgy Penguins’ recent popularity is their groundbreaking deal with Walmart. This deal saw Pudgy Penguins toys being made available in over 2,000 Walmart stores. This is a significant move, considering Walmart’s massive reach and influence in the retail industry. No other web3 project had managed to secure a deal of this magnitude, making it a remarkable achievement for Pudgy Penguins.
In addition to the Walmart deal, Pudgy Penguins also announced plans for Overpass, an IP licensing marketplace. This platform aims to revolutionize the licensing process, making it quicker and more efficient. Pudgy Penguin holders will be able to close licensing agreements on Overpass within minutes, a significant improvement compared to the weeks it usually takes. This innovation is expected to further empower Pudgy Penguin holders and increase the value of their NFTs.
Furthermore, Pudgy Penguins is set to launch an online game called Pudgy World, which is being touted as Club Penguin 3.0. This virtual world offers an engaging online experience where users can customize their Pudgy character, play mini-games, and explore various activities. This exciting addition to the Pudgy Penguins ecosystem is expected to attract more users and increase the demand for Pudgy Penguins NFTs.
The surge of interest in Pudgy Penguins has had a significant impact on their floor prices. At the time of writing, the average floor price for Pudgy Penguins stood at 5.19 ETH, marking an 11% increase in the last 24 hours. The volume of Pudgy Penguin sales has also skyrocketed by a staggering 227%, indicating strong demand for these NFTs.
While Pudgy Penguins stole the spotlight, it’s worth mentioning that OtherSide’s Legends of the Mara game also generated excitement within the NFT sector. This further contributed to the surge in NFT trading volumes over the past few weeks.
In terms of NFT exchanges, Blur led in volume, but OpenSea dominated in terms of the number of trades occurring on the network. This indicates that despite the bear market, there is still a significant level of activity and interest in the NFT sector.
Overall, the recent developments and achievements of Pudgy Penguins have demonstrated their resilience in the face of market challenges. With the Walmart deal, the Overpass licensing marketplace, and the upcoming Pudgy World game, Pudgy Penguins have solidified their position as a prominent and valuable NFT collection. The surge in interest and activity surrounding Pudgy Penguins could be an indication of new developments that are here to stay in the NFT space.
