Pudgy Penguins’ new NFT-inspired physical toys see over 20K sales in 48 hours
The new Pudgy Penguins collection saw more than 20,000 toy sales two days after launching on e-commerce giant Amazon with sales exceeding $500,000.
Pudgy Penguins lead Amazon sales
On May 18, the Pudgy NFT Twitter account dropped a video on the upcoming launch of the Pudgy Penguin toys and the Pudgy World, an online portal. The post further explained that the NFT-inspired toys were the first mass-market product licensed directly from the community.
Following the launch, the project CEO Luca Netz, announced on Twitter that they had already sold more than 20,000 Pudgy Penguins, making sales of over $500,000 in just two days. He further explained that the team was focused on bringing more users into the web3 space in ways the team is yet to fathom hence pushing forward the space.
Alejandro Navia, a crypto veteran, mentioned on Twitter that the toys dominated Amazon chart sales during the time, outperforming other recent releases by brands such as Pokemon, Disney, Transformers, and Barbie, among others.
Diversifying NFT products
Pudgy Penguins has brought physical toys to widen its offerings as the NFT market downturn intensifies. Netz confirmed in an interview that NFT revenue was not sustainable and not growable. Furthermore, the team wanted to bring about an IP transcending the ecosystem, which they could achieve using physical products.
The launch featured 100,000 toys with prices ranging from $5 to $35. Every toy has a birth certificate and QR code unlocking an NFT series or a trait box on Pudgy World, its online platform.
Pudgy Penguins is among the few Ethereum-based businesses still actively operational amid the NFT meltdown. They have managed to collect $9 million this year during a finding round headed by 1kx, an early investment company. Other participants included Kronos Research and Big Brain Holdings.