Surge in Trading Volume for Pudgy Penguins After Collaboration with Walmart
The blue-chip NFT project, Pudgy Penguins, experienced a significant increase in trading volume following its collaboration with retail giant Walmart. According to The Block’s Data Dashboard, Pudgy Penguins generated $3.32 million in trading volume between September 24 and October 1, marking a 241% surge compared to the previous week. This is the highest weekly volume for Pudgy Penguins since July of this year.
Collaboration Details: Walmart and Pudgy Penguins
Walmart made an announcement on September 26 that it would be selling toys related to the Pudgy Penguin brand across 2,000 stores. Customers who purchase one of the 26 available toys will gain access to a digital gaming platform called Pudgy World. This platform allows users to play games and create their own “Forever Pudgy” avatar. The cost of a Pudgy toy is up to $12.
Pudgy Penguins is an NFT collection consisting of 8,888 cartoon penguins. The project has achieved a total trading volume of 190,563 ETH ($321.9 million) and has a floor price of 4.9 ETH ($8,270) on the NFT marketplace OpenSea.
Hot Take: Walmart Boosts Pudgy Penguins’ Trading Volume
The collaboration between Pudgy Penguins and Walmart has proven to be highly beneficial for the NFT project, resulting in a significant surge in trading volume. With Walmart’s wide reach and customer base, the partnership has brought increased exposure and interest to Pudgy Penguins. This demonstrates the growing influence of retail giants in the NFT space and their ability to drive adoption and engagement. The success of this collaboration highlights the potential for future partnerships between traditional retailers and NFT projects, opening up new avenues for growth and expansion in the crypto market.
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