Pudgy Penguins Launches Pudgy Toys Collection in Walmart Stores
The popular NFT collection, Pudgy Penguins, has expanded its reach by launching its Pudgy Toys collection in 2,000 Walmart stores across the United States. These toys, which have been available online since May, are expected to gain significant exposure through their presence in Walmart.
Each Pudgy Toy comes with a unique birth certificate that allows owners to claim exclusive traits for their digital ‘Forever Pudgy’ character within Pudgy World. By scanning a QR code, users can unlock these traits in an online virtual world built on the zkSync Era blockchain.
Brittany Smith, vice president of merchandising – toys at Walmart U.S., expressed excitement about the collaboration, stating that Pudgy Penguins is bridging the gap between physical and digital play in an engaging way for kids.
Pudgy Penguins Trading Volume Surges 530%
Following the announcement of the collaboration with Walmart, Pudgy Penguins experienced a significant surge in trading volume. CoinGecko data shows that the NFT collection recorded 1,033 ETH (worth approximately $1.6 million) in trading volume over the past day, marking a 530% increase.
The floor price of the collection also rose by over 11% to 5.2 ETH (around $8,200), and its market cap reached 46,008 ETH ($73 million).
Pudgy Penguins CEO Luca Netz sees Walmart’s inclusion of Pudgy Toys as a reflection of consumers’ desire to engage with digital brands in today’s era.
Walmart to Boost Popularity of Pudgy Penguins
As the largest retailer in the U.S. and one of the world’s top revenue-generating companies in 2022, Walmart’s support is expected to elevate the popularity of the Pudgy Penguins collection beyond the crypto industry.
Pudgy World, an immersive multiplayer digital environment, enables users to explore, play games, and fully customize their Forever Pudgy character.
Pudgy Penguins has achieved impressive sales of $400 million since its launch in 2021. The brand’s success can be attributed to its effective use of social media and experiential marketing techniques, setting it apart from other NFT collections that struggled to gain traction.
Integrating physical products into established platforms like Walmart presents an opportunity for NFT collections to engage with a broader audience and build stronger brands, despite mainstream media skepticism about NFTs due to their volatile price performance and perceived lack of demand.
Walmart will stock 16 different types of Pudgy Toys, manufactured by PMI Kids’ World, a renowned brand known for producing toys based on popular cartoons and shows like WWE.
Hot Take: Walmart Collaboration Boosts Pudgy Penguins’ Potential
The partnership between Pudgy Penguins and Walmart signifies a significant milestone for the NFT collection. By making their Pudgy Toys available in thousands of Walmart stores, Pudgy Penguins has gained access to a wider audience outside the crypto community. This move has resulted in a surge in trading volume and increased market value for the collection.
Walmart’s reputation as a leading retailer in the U.S. ensures greater exposure for Pudgy Penguins, further solidifying its position as a successful NFT brand. This collaboration demonstrates the growing interest and acceptance of digital brands among consumers in today’s digital era.
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