The well-known NFT series, Pudgy Penguins, has introduced its Pudgy Toys line in over 2,000 Walmart outlets throughout the U.S.
Having been accessible online since May, the toys’ visibility is set to amplify with their availability in Walmart.
Every Pudgy Toy will include a distinct birth certificate, allowing holders to secure special attributes for their digital ‘Forever Pudgy’ character in the Pudgy World universe.
By using a QR code, individuals can access these unique characteristics in a digital realm powered by the zkSync Era blockchain.
Brittany Smith, Walmart U.S.’s Vice President of Merchandising for Toys, commented, “Pudgy Penguins innovatively merges the tangible and virtual play arenas, captivating children in a refreshing manner.”
Pudgy Penguins Trading Volume Surges 530%
After announcing their partnership with Walmart, Pudgy Penguins experienced a marked increase in trading volume.
Data from CoinGecko indicates that the NFT collection witnessed a trading volume of 1,033 ETH (approximately $1.6 million) in just the last 24 hours, a remarkable rise of 530%.
Moreover, the collection’s baseline price has jumped by over 11%, now sitting at 5.2 ETH (around $8,200). Its total market capitalization has also climbed to 46,008 ETH, equivalent to $73 million.
Commenting on the development, Luca Netz, Pudgy Penguins’ CEO, emphasized that the addition of Pudgy Toys in Walmart’s inventory showcases the evolving ways consumers connect with brands in today’s digital landscape. He stated, “Having Pudgy Toys in Walmart underscores the ongoing shift in consumer-brand interactions in our digital age.”
Walmart to Boost Popularity of Pudgy Penguins
Being the foremost retailer in the U.S. and among the global giants in terms of 2022 revenue, Walmart’s involvement will undeniably amplify Pudgy Penguins’ allure beyond just the crypto aficionados.
Pudgy World provides an engaging multiplayer digital realm where participants can navigate, partake in games, and intricately personalize their Forever Pudgy avatars.
Since its inception in 2021, Pudgy Penguins has raked in an astounding $400 million in transactions.
The brand’s meteoric rise can be credited to its adept harnessing of social media combined with immersive marketing strategies. This approach has distinguished it from several other NFT collections that found it challenging to establish a substantial presence.
Despite the general skepticism around NFTs in mainstream media, largely due to their fluctuating values and the perception of diminished demand in an oversaturated market, pairing them with tangible products on renowned platforms offers NFT collections a chance to resonate with a wider audience and cement a robust brand presence.
Walmart has earmarked shelf space for 16 diverse Pudgy Toys variants, with price points spanning from $2.99 to $11.97.
It’s noteworthy that these toys are the handiwork of PMI Kids’ World, a reputable entity in the toy industry, recognized for crafting toys inspired by celebrated cartoons and franchises, including WWE.