Pudgy Penguins NFT Brand Explodes in Value After Scoring Deals with Retail Giants

Move over Bored Apes. Pudgy Penguins NFT collection now worth over $400 million thanks to deals with major retailers like Walmart, Amazon, and Target to sell plush toys.

Serial entrepreneur Luca Netz bought Pudgy Penguins for $2.5 million in 2022, raised $9 million, and focused on building the brand outside crypto world.

The Igloo Company, which owns Pudgy Penguins, has made over $10 million selling more than 1 million plush toys and figurines based on the NFT art.

NFT floor prices more than doubled since Walmart deal. Owners of popular penguin NFTs get 5% cut of plushy sales through novel IP licensing structure.

With over 16 billion views on Giphy, 1.3 million Instagram followers, Pudgy Penguins proves digital collectibles can translate to lucrative consumer products.