With 8888 adorable penguin NFTs, Pudgy Penguins is now one of the most widely available NFT collections. In addition to their adorable and unusual appearance, pudgy penguins are well-known for a number of achievements. Notwithstanding a few difficulties, the drive caused a furor in the NFT market and caught the consideration of the overall local area. Pudgy Penguins has received the best media attention in the world and a spot in the top 30 of the market’s highest-cap NFT collections. In the following article, we’ll learn more about Coincu’s Pudgy Penguins project and the interesting things it brings.

What is Pudgy Penguins?

Pudgy Penguins, a group of overweight penguin avatars, was another animal-themed PFP project that immediately shook the NFT ecosystem in the fight for the NFT market in 2021 after the great success of Bored Ape Yacht Club.

Stout Penguins is an assortment of NFT PFPs that was delivered in July 2021. The project, like a lot of other collections at the time, got a lot of attention from the community almost immediately. There are 8,888 individual penguin NFTs in the collection, each with more than 150 hand-drawn characteristics.

This assortment depends on adorable penguins tracked down in Antarctica. The variety of this assortment adds to its appeal and peculiarity, whether it’s penguins wearing Viking covers or Tropical blossom accessories.

In addition to appearances, Pudgy Penguins provides owners with exclusive access to experiences, events, and IP licensing options. This popular brand is used to make content, products, toys, and other items.

It could be because of the collapse of the market as a whole or because the people who came up with a particular idea fled with the help of the community. The community of a project may lose faith in the founders if they have even the slightest suspicion that they could carry out something similar.

That’s exactly what happened in the Pudgy Penguins community at the end of 2021, when they realized that the original crew had cleared the project’s finances.

In any case, Chubby Penguins has unexpectedly caught the consideration of all NFT clients, from reporting a fruitful $9 million crowdfunding effort to delivering Stout Toys and gathering $500,000 in deals in just two days.

The rise comes just a few months after new management took control of a multimillion-dollar acquisition as confidence in the original team at the company waned. These have shown Thick Penguins’ predominance in the tremendous NFT industry.

Forgotten past

Pudgy Penguins will be available to buy in July 2021, right when people are most excited about the bullrun. Due to the backing of the general market and the certain popularity of the NFT PFP kits at the time, Pudgy was thought to be likely to have a resounding success like the BAYC department. It also quickly attracted the attention of the community.

However, the excitement did not last long as a series of tweets from project supporters claiming that Pudgy Penguins creator ColeThereum had committed fraud in the past surfaced.

ColeThereum is accused of misusing all of the fund’s funds and has no intention of developing the idea further. Instead, the creator offered to purchase all of the shares in the project for 888 ETH.

Luca Schnetzler bought the venture freedoms in April 2022 for 750 ETH (equivalent to $2.5 million at that point). One of the project’s most ardent backers is Luca; He is aware of the collection’s potential and is certain that the skills and knowledge he has acquired over time can assist in the return of the Pudgy Penguins.

Ecosystem overview

After Luca Netz bought Pudgys, the company has grown a lot. Particular efforts include making Pudgy Word and selling Pudgy Toys on Amazon. The drives created in the Thick Penguins climate are recorded beneath.

Lil Pudgys

Little Pudgys is a collection of 22,222 hand-drawn Pudgys made with LayerZero technology and stored on the blockchain. Using Pudgys Bridge, users can move their Lil Pudgys to other blockchains. Lil Pudgys, for instance, was born on Ethereum but can now be transferred to Arbitrum, Polygon, or BNB Chain.

Little Pudgys is an expansion of Pudgy Penguins that lowers the cost of accessing the universe based on the ecology of Pudgy Penguins. In December 2021, a total of 13,334 Little Pudgys will be available for purchase, and Pudgy Penguins will be able to claim 8,888 of them for free. Little Pudgy owners will have the same rights as owners of Pudgy Penguins. Both have access to opportunities for intellectual property licensing, events, and experiences.

Pudgy Rods

Any NFT Pudgy Penguins holder can claim mint before August 30th, 2021, and Pudgy Rods, formerly known as Pudgy Gifts, has been made available as a free NFT.

At first, each NFT took the form of eggs wrapped in red ribbon, and the community was kept in the dark about what was inside. Until Christmas Eve, it wasn’t revealed that the presents were actually a bridge. Although the debut received mixed reviews, it appears that Pudgy Rods are now considered a part of the larger ecology of Pudgy Penguins.

Pudgy Toys & Pudgy Word

The project announced the launch of Pudgy Toys on May 18, 2023. Pudgy Toys is a tangible stuffed toy sold on Amazon. It sold $500,000 in just 48 hours, causing a stir in the market. The improvement group likewise sees the actual toy as a “Deception” for the web3 and NFT environments, as well for the purpose of presenting Thick Penguins to countless true customers.

One component that recognizes Stout Toys is that each toy accompanies a computerized experience called Chubby World. Each Pudgy World participant must establish an account and supply an email address. The user account, or NFT soulbound, is similar to the NFT wallet. A birth certificate with a QR code will be provided to toys purchased by customers. After scanning a QR code on Pudgy World, the user is presented with a digital object. The Pudgy World Marketplace lets you trade this digital object.

In the end, Pudgy Toys and Pudgy World made Pudgy Penguins more accessible to customers. Additionally, generating revenue from sales aids in the growth of a long-term NFT empire.

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Pudgy Penguins NFT

Key Metric

• NFT Name: Pudgy Penguins
• Ticker: Pudgy Penguins
• Blockchain: Ethereum
• Token Standard: ERC-721
• NFT Contract: 0xBd3531dA5CF5857e7CfAA92426877b022e612cf8
• Max Supply: 8,888 NFTs

Use Cases

Owners of the Pudgy Penguins NFT may use them as follows:

• Picture Profile NFT (PFP) as an avatar
• This is the key to joining the Pudgy Penguins community for holders.
• If a pattern can be recognized, buy and hold for investment.
• It is a brand image used in the creation of various things such as toys, clothing, and so on.

NFT Purchase and Allocation

On July 23, 2021, the Penguins collection will be available to the public at a starting price of 0.03 ETH. Pudgy Penguins currently has no information on NFT allocation.

The Pudgy Penguins team was able to gather 266.64 ETH (worth $532,000 – ETH price was $2,000 at the time) with an amount of 8,888 NFTs sold out on the day of the sale.

NFT traits

Each Pudgy Penguins image will have a variety of elements. The greater the value of the NFT, the rarer the structural traits. Pudgy Penguins NFT has five characteristics:

• The background has 13 types: Yellow, Underwater, Supermarket, Beach,…
• The skin has 15 types: Black, Dark Gray, Light Gray, Red, Yellow gold, …
• The face has 27 types: Agitated, Pillow Case, Mirrored, Star Struck,…
• Head has 54 types: Fish Orange, Egg Gold, Hatched, Crown,…
• The body has 64 types: Shark Suit, Pillow Case, Banana Suit,…

Roadmaps & updates

• July 2021: Stout Penguins is sent off with an assortment of 8,888 NFT penguins on the Ethereum blockchain. This collection was gone in 19 minutes.
• September 2021: Animal welfare and environmental conservation organizations receive a portion of the project’s profits.
• December 2021: After discovering that they withdrew project funds for activities that did not contribute to the common good and were also involved in NFT scams, the community decided to vote to remove the founder.
• April 2022: Luca Schnetzler, a businessman, bought the Pudgy Penguins brand for 750 ETH (approximately $2.5 million) to keep developing it.
• January 2022: The trading volume reaches 1,200 ETH, which is twice as much as Yuga Labs’ BAYC bluechip collection.
• January 2023: The proceeds from the Sotheby’s auction are donated to charity by Project.
• March 2023: Pudgy Penguins’ trademark registration is made public by CEO Luca Schnetzler.

Conclusion

The most evident sign of a resurgence in the NFT market appears to be pudgy penguins. This project still has a lot of potential for the future thanks to novel strategies that extend beyond the Web3 domain. Fans of presently failing NFT projects may have a new reason to hope for their return as the project maintains its position at the top of OpenSea’s volume charts.