More than a million Pudgy Penguin toys have been sold over the past 12 months, according to the CEO of the nonfungible token (NFT) project, Luca Schnetzler.

On May 13, the founder of the popular Pudgy Penguins NFT project revealed that sales have soared to over a million in the past year as it continues expanding into retailers around the globe.

“Who would’ve thought that the Consumer Crypto revolution was going to be led by fat, flightless birds,” he exclaimed.

The sales milestone follows the May 12 announcement that Pudgy Toys with Pudgy World were now available in the United States retail giant Target.

Pudgy Penguins is a popular NFT collection created in 2021, featuring 8,888 colorful penguin avatars.

The project had a rocky start, with the former founder embroiled in rug pull accusations. However, Schnetzler bought the brand in 2022 for $2.5 million.

Stuffed toy versions of the popular penguins are also for sale in retail giant Walmart, which added to its success.

Pudgy Penguin’s model allows NFT holders to earn 5% royalties on net revenues from sales of the physical products featuring their unique Pudgy Penguin.

According to NFT marketplace OpenSea, the floor price for the NFT versions is 12.87 Ether or approximately $37,580 at current prices.

The most expensive recent sale was Penguin #6873, which went for a whopping 400 ETH, around $1.17 million, according to OpenSea.

Sales activity for the collection spiked in mid-February, reaching a peak of 439 sales per day at an average price of 20 ETH. Sales volumes have dipped slightly since then to around 269 sales per day as of May 6.

According to NFT sales tracking platform CryptoSlam, Pudgy Penguins is the twelfth-highest NFT collection in terms of secondary sales over the past seven days, with $2.2 million worth of sale.

Uncategorized Bitcoin Ordinals are the highest-selling NFTs, and CryptoPunks is the most popular collection.

Source : Cointelegraph / May 13, 2024