Within the NFT space, not every project sees instant success and hype from consumers. In a lot of cases, NFT collections have to spend some time growing a fanbase before it sees a breakthrough. This has been the case with Pudgy Penguins, an NFT collection that was launched over a year ago in June 2021.
Pudgies Taking Over
In the last month alone, the floor price for a Pudgy Penguin (or Pudgies, as they are often called) has grown by around 69%. On August 22, 2022, one of the NFTs from the collection even sold for over $600,000. This came just after the collection announced its new board, which includes executives from Nansen, Hasbro, and others.
This recent success has been the culmination of this over a year of work, according to the management of the collection.
“We’ve been working our tail off for the last 6 months and I feel like it’s finally getting noticed,” says Luca Netz, the CEO of Pudgy Penguins, in a statement to Decrypt.
In light of all of this, the collection plans to expand beyond just its digital presence. As per an announcement on its official Twitter page, Pudgy Penguins will be launching a children’s book and a line of stuffed toys. Seeing how much success the collection has seen, things appear to be full-speed ahead for Pudgy Penguin projects.
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Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.