Non-fungible tokens (NFTs) have taken the digital world by storm, and one collection that has waddled into the limelight is the adorable and charming Pudgy Penguin NFT collection. In this comprehensive guide, we'll dive into the world of Pudgy Penguins, exploring their history, the founding team, where to acquire these delightful digital collectibles, and the intriguing Amazon and Walmart deals that have sparked excitement.
Meet the Pudgy Penguins
Pudgy Penguins are a unique collection of 8888 NFTs that have captivated the hearts of both NFT enthusiasts and the broader online community. Created in July 2021, their stated mission is to accelerate web3 innovation through IP utilization and community empowerment.
They are a series of animated, chubby penguins, each with its distinct personality and attire. From tuxedo-clad penguins to those sporting Hawaiian shirts, Pudgy Penguins are a delightful mix of cuteness and character.
These digital collectibles are built on the Ethereum blockchain, ensuring ownership and provenance are transparent and secure.
The Pudgy Story
A unique collection of 8888 NFTs was launched in July 2021 at a mint price of 0.03 ETH and sold out in less than 20 minutes! Twitter user ColeThereum and 3 others created Pudgy Penguins that became an instant hit and became one of the popular NFT collections of all time.
Shortly after the successful launch, the founders came upon scrutiny from the larger Pudgy community for not honoring the stated goals and milestones. The community came together in a truly decentralized fashion and voted out the founders.
Pudgy Penguins was then sold to Luca Netz for $2.5M (750 ETH). The sale transferred the control of the project as well as its royalty rights to the new owners. The individual penguins will still be owned by their respective owners without any changes to their rights of ownership.
Luca has leveraged the Pudgy brand and has also grown to include real-world products and experiences, such as: Live events, Physical goods, Toys.
The Penguins raised a $9M seed funding round led by 1kx in May 2023.
Collecting Pudgy Penguins
Pudgy Penguins can be bought in the secondary NFT marketplaces. You'll need ETH to pay for the Pudgy NFT as well as for the gas fee to mint the NFT as yours.
To buy a Pudgy Penguin NFT, you'll typically need to follow these steps:
- Set Up a Cryptocurrency Wallet: You'll need a digital wallet that supports Ethereum (ETH) and the Ethereum-based NFTs. Popular wallets include MetaMask, Trust Wallet, and Coinbase Wallet.
- Acquire Ethereum (ETH): Make sure you have some Ethereum (ETH) in your wallet. You can purchase ETH on cryptocurrency exchanges or through peer-to-peer platforms.
- Choose a Marketplace: Pudgy Penguins are often sold on NFT marketplaces like OpenSea, Rarible, and others. Visit one of these platforms.
- Connect Your Wallet: Connect your cryptocurrency wallet to the NFT marketplace. This allows you to interact with the platform, including buying, selling, and transferring NFTs.
- Browse Pudgy Penguins: Search for Pudgy Penguins within the marketplace. You can filter, sort, and explore the various Pudgy Penguins available for sale.
- Select Your Pudgy Penguin: Once you find a Pudgy Penguin you like, click on it to view details. Make sure to check its attributes, rarity, and price.
- Place a Bid or Buy Now: Depending on the marketplace, you can either place a bid or buy the Pudgy Penguin instantly. If you choose to bid, you'll need to wait until the auction ends, and the highest bidder wins.
- Confirm the Transaction: Confirm the purchase through your wallet. Be prepared to pay gas fees, which cover the cost of the Ethereum network's processing.
- Ownership Transfer: Once the transaction is confirmed, the Pudgy Penguin NFT will be transferred to your wallet, and you will become the owner.
Remember to do your research, especially when buying high-value NFTs. Check the authenticity of the Pudgy Penguin, the seller's reputation, and any additional information provided in the listing. Additionally, be cautious about potential scams or fraudulent listings. Always double-check the wallet address you are sending funds to and use trusted marketplaces for NFT purchases.
The Numbers That Make Pudgy Penguins Special
Pudgy Penguins have gained immense popularity and value in the NFT realm. Let's take a closer look at some key statistics that make these charming collectibles stand out:
1. Total Supply: Pudgy Penguins are a collection of 8,888 non-fungible tokens (NFTs) that feature chubby cartoon penguins.
2. Traits and Variants: The penguins have 150 different traits, including: Shirts, Hats, Glasses, Backgrounds, Body, Head, Face, Skin. The traits are broken into five categories: background, body, head, face, and skin. Each penguin is the result of a unique combination of the different traits. For example, Pudgy Penguin #6873 is the rarest in the collection because all its features apart from its head are unique.
3. Ownership and Provenance:
Being blockchain-based NFTs, Pudgy Penguins offer transparent ownership records and provenance. Each NFT is associated with a specific wallet address, and the entire transaction history is stored on the Ethereum blockchain. This feature ensures that the authenticity and history of ownership are verifiable.
4. Rarity and Scarcity:
Rarity is a significant factor that drives the value of NFTs, including Pudgy Penguins. Some traits or combinations may be rarer than others, making certain Pudgy Penguins more sought after by collectors. Rarity is often determined by the number of NFTs with the same traits or attributes.
Here are some rare Pudgy Penguins:
- The Golden Penguin: The rarest and most expensive Pudgy Penguin in the collection. It was sold for 150 ETH (around $500,000) on August 8, 2021.
- Pudgy Penguin #6873: The most expensive Pudgy Penguins NFT ever sold. It was sold for 225 ETH on September 8, 2021 ($775,000 at the time). It was later resold for 400 ETH on August 22, 2022 ($650,000 at the time).
- Penguin #7315: A highly anticipated line of Pudgy Toys.
- Penguin #6615: An ultra rare gold piece.
Other notable and valuable Pudgy Penguins include: Mirrored, Shark Suit, Banana Suit, Pillow Case, Pineapple Suit, Kimono Ice, Pudgy Man, Kimono Gold.
5. Price and Valuation:
The price of Pudgy Penguins can vary widely depending on factors like rarity, demand, and the specific collection. Some Pudgy Penguins have sold for substantial amounts, and their valuation continues to evolve in response to market dynamics.
6. Community Engagement:
The Pudgy Penguin community is known for its enthusiasm and active engagement. The penguins represent values like love, empathy, and compassion. They set themselves apart in the NFT world with their inclusive art and emphasis on community.
Pudgy Toys in retail stores
Two of the world's retail giants, Amazon and Walmart, have made headlines by venturing into the NFT space in collaboration with the Pudgy Penguin NFT collection.
Let's take a closer look at these exciting developments:
Amazon, the e-commerce behemoth, is known for its innovative approach to business. The company's foray into the NFT world through a partnership with Pudgy Penguins has been met with immense enthusiasm.
The NFT (Non-Fungible Token) collection Pudgy Penguins debuted on Amazon with their “Phygital” toy collection and experience. The toys were licensed by P.M.I. Kids World. The toys were released in four different designs, each with interchangeable accessories and a redeemable digital experience code. In the first two days, the project sold over 20,000 toys and made over $500,000 in purchases. The toys became the number one item on Amazon within 24 hours of their launch.
Walmart, a retail giant with a global presence, has also joined forces with the Pudgy Penguin NFT collection, offering a unique twist to the Pudgy brand.
The partnership introduced the Pudgy Penguins toy line in 2,000 Walmart stores across the country, as well as on Walmart.com.
The partnership allowed Pudgy fans to purchase physical merchandise in 2,000 stores across the USA. Each toy provides access to Pudgy World, a multiplayer digital social experience.
The partnership also increased the weekly trading volume of the NFT project. Between Sept. 24 and Oct. 1, Pudgy Penguins brought in $3.32 million in volume, a 241% increase compared to the week prior.
Smyths Toy Stores Partnership
Smyths has over 100 stores in the UK and Ireland. The partnership will bring Pudgy plush toys to all these stores. The NFT IP laws will govern the partnership and will benefit the holders as well as the retail partners.
Lastcrumb is a specialty online cookie store. Pudgy Penguins has partnered with Lastcrumb to launch a very cute, specialty limited edition cookie box priced at $140. The cookie collection features a special chocolate lava cookie and 11 other signature flavors.
It is a great win win idea for both the teams. The Pudgy team will reach new audience. The Lastcrumb team will benefit from the cute penguins and their customers will get an introduction to NFTs.
What Makes Pudgy Penguins Special
Pudgy Penguins have gained popularity for several reasons, making them stand out in the crowded NFT landscape:
1. Unique and Adorable Designs: Pudgy Penguins are not your average NFTs. Their chubby and endearing appearances, along with their charming outfits, make them instantly lovable.
2. Limited Supply: Each Pudgy Penguin is a unique, limited edition NFT. This scarcity adds to their desirability and potential value over time.
3. Community Engagement: The Pudgy Penguin community is active and vibrant. The team regularly organizes events, giveaways, and activities to keep collectors engaged.
4. Innovative Collaborations: Partnerships with global retail giants like Amazon and Walmart add a layer of exclusivity and real-world utility to Pudgy Penguins.
5. Provenance and Ownership: Built on the Ethereum blockchain, Pudgy Penguins offer transparency and proof of ownership through blockchain technology.
The Future of Pudgy Penguins
The future looks promising for Pudgy Penguins. With ongoing collaborations, innovative developments, and an engaged community, these adorable NFTs are poised to continue captivating collectors and enthusiasts alike. Whether you're a seasoned NFT collector or just getting started, Pudgy Penguins offer a delightful and engaging entry point into the world of digital collectibles.
So, if you're considering diving into the world of NFTs or simply want to add some cuteness to your collection, Pudgy Penguins may be an option, DYOR. Explore the marketplaces, engage with the community, and embark on an exciting journey of Pudgy Penguin ownership. After all, who can resist the charm of these chubby champs of the NFT world?