The Sappy Seals NFT collection has partnered with popular NFT marketplace Magic Eden to launch the first tokenized physical collectible on Magic Eden’s new Ethereum launchpad.
The announcement came on February 24th via Magic Eden’s official X account. With the move, it appears the adorable Sappy Seals NFTs will be expanding their reach into the real world with a physical collectible project linked to digital assets.
The Sappy Seals collection was launched in September 2021 by @wabdoteth, the founder of the 2D metaverse Pixelverse. It is a community driven PFP NFT collection consisting of 10,000 unique Seal NFTs on Ethereum geared towards expanding the metaverse.
Physical non-fungible tokens (pNFTs) are digital representations of physical items that bridge the gap between virtual and tangible realms. Holders can redeem their pNFTs for the underlying item at any time, or trade them on marketplaces like Magic Eden. They have become increasingly popular for collectibles like comics, stamps, and trading cards, especially because they eliminate the risk of transporting physical collectibles.
Sappy Seals, which has one of the most active NFT communities on X, has managed to thrive in the bear market mainly off the strength of their commitment to Pixelverse. Seal holders can stake their NFTs to earn $PIXL token, which can be used to purchase metaverse lands, play games, and participate in gamified yield farming in the Pixelverse. Holders of rare Sappy Seals NFTs can also earn more from staking.
While it’s still uncertain exactly what the nature of the Sappy Seals physical collectibles will be, the price of the $PIXL token appears to be responding. According to data from CoinGecko at the time of writing, the $PIXL token is up around 144% over the past thirty days and 40% on the week.
Family-Friendly NFT Collections Enter Real World Spaces
News of Sappy Seals partnership with Magic Eden to release the first tokenized physical collectible on Magic Eden’s Ethereum launchpad is exciting for NFT holders and fans of the collection. But Sappy Seals isn’t the first NFT studio to bring its IP into the real world. Another popular collection that has had a stellar year in Web3 and has also launched physical collectibles is Pudgy Penguins. Here are three stories from the OG NFT collection.
In May 2023, Pudgy Penguins released a collection of IRL toys to debut at stores around the world. The toys, which were created in partnership with Retail Monsters and PMI Toys, contained a QR code that lets users mint soulbound ‘Forever Pudgy Penguin’ NFTs and participate in the Pudgy World Metaverse.
Next, in August 2023, Pudgy Penguins introduced an IRL clothing line based on the IP from its NFT collection. The clothes, which were shipped around the world, feature various motifs from the collection, including ‘ice hearts’ and the Pudgy Penguins’ right-facing igloo.
Lastly, in September 2023, the Pudgy Penguins real-life toys debuted at 2,000 Walmart stores across the U.S. The news led to a bump in the NFTs’ floor price which still hasn’t fallen. At the time of writing, the floor price on OpenSea for a Pudgy Penguins NFT is 19.4 ETH, or around $61K at current prices.
One reason Pudgy Penguins and Sappy Seals are able to expand their collections into the physical world is because they both have family-friendly vibes. We’ll have to be patient to see what sort of tokenized physical collectibles the Sappy Seals release with Magic Eden, but if it’s as successful as the Pudgy Penguins’ recent innovations, it could be a huge win for holders.