Pudgy Penguins Launches NFT-Inspired Toys – The New Toys Raise $500,000 In 48 Hours

by James · May 18, 2023

Pudgy Penguins Launches NFT-Inspired Toys – The New Toys Raise 0,000 In 48 Hours

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Blue-chip NFT collection Pudgy Penguins has partnered with PMI Ltd. Kids’ World, an internationally recognized brand for trending children’s goods and toys, to launch NFT-inspired toys. The new products will revolutionize both the toy and web3 industries.

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Pudgy Penguins launches NFT-inspired toys

In a May 18 press release, Pudgy Penguins NFT Collection confirmed the launch of a collection of NFT-inspired toys. The new Pudgy Toys are the new era of web3 and are the first mass market NFT IP product licensed directly from the community.

Today marks the beginning of a new era for Web3.

We are pleased to announce that Pudgy Toys and Pudgy World are now available. pic.twitter.com/UKbkIAJzvS

— Pudgy Penguins (@pudgypenguins) 18 May 2023

Launched in 2021, Pudgy Penguins is a non-fungible token pool with a fixed set of 8,888 NFTs on the Ethereum network. The blue-chip NFT collection has grown to include real-world products and experiences ranging from live events to physical goods like these toys.

The blue-chip NFT collection incubated the idea of how their NFT holders can participate and really use their IP in a value-adding and impactful way sometime in July 2022. Fortunately, less than a year later, Pudgy Penguins realized that licensing NFTs from the community is an authentic way to influence its NFT holders.

The NFT startup has selected and licensed 16 SKUs inspired by Pudgy Penguin’s NFTs from the original collection. The 16 NFTs were selected based on aesthetics, various characteristics and how engaged the owner of the NFT is in society.

Pudgy Penguins NFT inspired toys overview

The first edition of Pudgy Penguins Toys contains about 100,000 toys, priced from $5 to $35. The new toys are available through retailers and online marketplaces such as Amazon internationally. Each toy comes with a birth certificate and QR code that unlocks a series of NFTs, or Trait Box, on the Pudgy World online platform.

The Pudgy World is an experience that gives the non-NFT audience their very first blockchain wallet, Soulbound NFTs and Tradeable NFTs, all in a simple registration with an email address. Pudgy World gives people a fun, user-friendly and innovative entry into the blockchain and NFT world.

Meanwhile, the Pudgy Penguins NFT collection has reacted strongly to the announcement, rising 5.3% relative to the floor price in the last 24 hours. The NFT collection has raised a 24-hour trading volume of 469 ETH. Pudgy Penguins has a market cap of $80 million and a base price of $8,895.