Pudgy Penguins launches Pudgy Toys to provide real word experience

More NFT collections are getting deeper into the NFT space, with Pudgy Penguins set to bring IP to the real world. The platform says it wants to explore new waters and expand its horizons to the physical space. The goal is to grow its brand and reach more people.

Pudgy Penguins is an NFT collection that also functions as a Web3 IP firm. The company has announced the launch of a series of toys called Pudgy Toys.

The Penguin Plushiers Will Be Launched In Collaboration With PMI

According to Chief Executive Officer of Pudgy Penguins, Luca Netz, the Penguin plushiers will be launched in partnership with PMI, which also produces toys for Among Us and Fortnite.

Nets admitted that NFT revenue is not “growable” and not sustainable, but the toys are expected to make more money for the company. Additionally, the company planned to create an IP that goes beyond the ecosystem, and the best way to do this is by using physical products.

Pudgy Penguins is an 8,888-NFT collection that was rolled out in 2021 and bought by Netz the next year. It was designed to provide world-class experiences and products ranging from physical goods to live events.

Inspired by Pudgy Penguin NFTs from the original collection, the company has selected and licensed 16 SKUs. They were chosen based on the level of engagement by the owner with the community, aesthetics, and various features.

The Initial Launch Will Have 100,000 Toys

Netz said the NFTs are licensed directly from their holders, and every toy is an NFT linked to the blockchain. “So every time one of those toys sells, they make a royalty in perpetuity,” he added.

The NFT will cost from $5 to $35, and the initial launch will have 100,000 toys. The toys will be available for sale online via retailers internationally. Each toy comes with a QR code and birth certificate that unlocks a trait box or a series of NFTs on Pudgy World, its online platform.

The Pudgy Penguins’ brand has seen a fair share of ups and downs since it was released in June 2021. In January this year, it sent its founders packing before the brand was sold to Netz for 750 ETH. Netz was also a Pudgy Penguins holder before the sale. He says the dream is to make Pudgy Penguins more attractive again to the community. “Pudgy World is where you build your character, play mini-games and interact with other users,” he noted.

The company’s recent operations seem to be yielding the right fruits after raising $9 million in seed funding. The funding shows that more investors are also interested in off-blockchain efforts. It is another great way for digital collectors to build their brands.