Pudgy Penguins sold 1 million plus thousands in 12 months, CEO says.
According to Luca Schnetzler, CEO of the Non-Fungible Token (NFT) Project, more than one million Pudgy Penguin toys have been sold in the past 12 months.
On May 13, the founder of the popular Pudgy Penguin NFT project revealed that sales have surpassed one million last year as it continues to expand to retailers around the world.
“Who would have thought that the consumer crypto revolution would be led by fat flightless birds,” he exclaims.
The sales milestone follows the announcement on May 12 that Pudgy Toys, along with Pudgy World, are now available in the US retail giant Target.
More than 1,000,000 toys have been sold in the last 12 months of @pudgypenguin's expansion at retailers worldwide.
Who would have thought that the consumer crypto revolution would be led by fat flightless birds. pic.twitter.com/E8jmSICwlt
— Luca Netz (@LucaNetz) May 12, 2024
Pudgy Penguins is a popular NFT collection created in 2021, with 8,888 colorful penguin icons.
The project had a rocky start, embroiled in carpet-pulling allegations with its former founder. However, Schnettler purchased the brand in 2022 for $2.5 million.
Toy versions of the popular penguin are also sold at retail giant Walmart, adding to its success.
The Pudgy Penguin model allows NFT holders to earn a 5% royalty on net revenue from sales of physical products featuring exclusive Pudgy Penguins.
Related: Nifty News: 3 Bored Monkeys Start Fishing, fantasy.top fees win Tron and more
According to NFT marketplace OpenSea, the floor price for NFT versions is 12.87 ETH or approximately $37,580 at current prices.
The most expensive recent sale was Penguin #6873, which fetched around $1.17 million for a whopping price of 400 ETH, according to OpenSea.
The collection's sales activity increased in mid-February with 439 sales per day at an average price of 20 ETH. Since then, sales have fallen slightly to 269 sales as of May 6.
According to NFT sales tracking platform CryptoSlam, Pudgy Penguin is the twelfth NFT group in terms of secondary sales over the past seven days with a value of $2.2 million.
Unclassified Bitcoin Ordinals are the top selling NFTs and CryptoPunks is the most popular collection.
Magazine: ‘Treat your first NFT purchase as your first day' – NFT collector Suzanne.
