The widely recognized NFT collection, Pudgy Penguins, has made a significant move by launching its Pudgy Toys collection in 2,000 Walmart stores across the United States. These physical toys, which have been available online since May, are expected to gain substantial exposure through their presence in Walmart’s expansive retail network.
Each Pudgy Toy comes with a unique birth certificate, allowing owners to claim exclusive traits for their digital ‘Forever Pudgy’ character within the virtual world known as Pudgy World. This is made possible by scanning a QR code, which unlocks these traits in an online environment built on the zkSync Era blockchain.
Brittany Smith, Vice President of Merchandising – Toys at Walmart U.S., expressed excitement about this development, stating, “Pudgy Penguins is bridging the gap between our physical and digital worlds of play for kids in a really engaging way.”
The partnership with Walmart has proven to be a game-changer for Pudgy Penguins, as evidenced by a remarkable surge in trading volume. According to data from CoinGecko, the NFT collection has recorded a staggering 530% increase in trading volume, equivalent to 1,033 ETH (approximately $1.6 million) in just one day.
Simultaneously, the floor price of the collection has surged by over 11%, reaching 5.2 ETH (about $8,200), while the market capitalization has reached 46,008 ETH ($73 million).
Luca Netz, CEO of Pudgy Penguins, sees Walmart’s adoption of Pudgy Toys as a clear indication of consumers’ growing interest in interacting with digital brands. He remarked, “Walmart’s inclusion of Pudgy Toys in their stores is a testament to the evolution of how consumers engage with brands in the digital era.”
Walmart’s stature as the largest retailer in the United States and one of the world’s largest companies by revenue for the year 2022 is expected to significantly elevate the popularity of the Pudgy Penguins collection, extending its reach beyond the confines of the crypto industry.
Pudgy World, an immersive multiplayer digital environment, offers users the opportunity to explore, play games, and fully customize their Forever Pudgy character. Since its inception in 2021, Pudgy Penguins has achieved a remarkable $400 million in sales, attributed to its adept use of social media and experiential marketing, setting it apart from other NFT collections that struggled to gain traction.
While mainstream media often casts doubts on NFTs due to their price volatility and perceived market competition, the integration of physical products into established platforms presents a unique avenue for NFT collections to engage with a broader audience and cultivate stronger brand recognition.
Walmart will carry 16 different types of Pudgy Toys, priced between $2.99 and $11.97, and these toys are manufactured by PMI Kids’ World, a renowned brand known for producing toys based on popular cartoons and shows such as WWE.
