Pudgy Penguins trading volume surges 241% following Walmart deal
Quick Take
- Last week, Walmart announced that it would sell Pudgy Penguin-branded toys across 2,000 locations.
- Pudgy Penguin volume rose 241% between Sept. 24 and Oct. 1. following the news.
Weekly trading volume for the blue-chip NFT project Pudgy Penguins surged following the brand's collaboration with retail giant Walmart.
Pudgy Penguins brought in $3.32 million in volume between Sept. 24 and Oct. 1 — a 241% increase compared to the week prior, according to The Block's Data Dashboard. The $3.32 million in weekly volume is the highest that Pudgy Penguins has brought in since July of this year.
Walmart's Pudgy Penguin collaboration
On Sept. 26, Walmart announced that it would sell toys connected to the Pudgy Penguin brand across 2,000 stores. Purchasing one of the 26 toys gives the customer access to a digital gaming platform called Pudgy World, in which users can play games and create a "Forever Pudgy" avatar. A Pudgy toy costs up to $12.
Pudgy Penguins is an NFT collection of 8,888 cartoon penguins. The project has netted 190,563 ETH ($321.9 million) in total trading volume and has a floor price of 4.9 ETH ($8,270), according to the NFT marketplace OpenSea.
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