Pudgy Penguins Escape from Web3 to IRL

Credit: Pudgy Penguins

The family-friendly blue-chip NFT collection Pudgy Penguins has released real-life Pudgy Penguin toys at some of the most prominent retail specialty stores around the world. The launch comes out of a partnership between Pudgy Penguins, Retail Monster, and PMI Toys.

As you might expect from one of the most prominent brands in Web3, the physical toys don’t come alone. Each toy contains a “birth certificate” with a QR code that links users to the Pudgy World website where they can mint a ‘Forever Pudgy Penguin’ soulbound NFT to participate in the Pudgy World metaverse.

Pudgy World is a virtual space that lets holders mint NFT penguin avatars, and unlock a mystery box that contains three traits that vary in rarity from common to epic. The NFTs can be minted free on the Polygon blockchain (powered by Polygon Labs), and can be bought and sold on Origin Protocol’s NFT marketplace.

At the time of writing, there is an arcade, a chess game, and two other games that are still locked. Users of Pudgy World can befriend each other and interact in the evolving digital world.

As for the physical toys, they are the first mass-market product licensed by the community, according to Pudgy Penguin’s press release. They include figures, huggable plushes, igloo collectibles, and clip-on plushes, and will be coming to more stores in the coming months. They can also be pre-ordered on Amazon.

The news arrived yesterday, May 8th, along with a promo video of the Pudgy Penguin toys in a scene that mimics the classic movie Toy Story — where the toys are alive but hide when their owner comes into the door to pick up her favorite toy.

Worth noting, the news appears to have inspired a rise in the price of Pudgy Penguins NFTs by nearly 100% over the past 24-hours, as per data on OpenSea. The floor price of a Pudgy Penguin NFT is now about 5 ETH, or around $9,000.

Pudgy Penguins Shows Persistency in Web3

It’s been nine months since a rare Pudgy Penguins NFT sold for a jaw-dropping $625,000. But that doesn’t mean the team hasn’t been steading building its brand. At Rarity Sniper, we’ve been keeping a close on Pudgy Penguins this year. Here’s a breakdown of some of the most recent headlines from Pudgy Penguins.

First, about ten days ago, Pudgy Penguins announced it had closed a $9 million seed funding round led by 1kx, an early-stage investment firm. With the funds, the brand said it aims to scale its IP offerings, as well as its team.

Next, on May 5th, Pudgy Penguins shared news on Twitter that it had signed with William Morris Endeavor (WME), a Hollywood talent agency. With WME’s relationships in TV, film, and gaming, Pudgy Penguins will use the strategic partnership to expand its brand and reach new audiences.

Finally, about five months ago, Pudgy Penguins NFTs hit an all-time of 7.3 ETH, flipping blue-chip NFT collections like Doodles, Moonbirds, and Clonex. The run came after the collections remarkable turnaround since January 2022, when holders voted out the founders of the project for misappropriating funds.

Pudgy Penguins has been persistent in Web3, and now it looks like things are paying off with a major launch of an innovative product in stores around the world. We’ll have to be patient to see if the Pudgy Penguin toys are popular, and how many people they can onboard to Web3. At Rarity Sniper, we’ll be following up on any developments in the story.

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