Pudgy Penguins NFTs Prices Soar After Announcing Physical Toys

Selected Penguins from the NFT collection will be turned into physical toys.
Image source: Pudgy Penguins

Quick take:

  • Pudgy Penguins NFTs saw a threefold increase in sales over 24 hours.
  • The collection’s floor price increased 18% from a day ago.
  • This news comes after Moonbirds’ floor price tanked following its switch to CC0 license.

Pudgy Penguins announced on Thursday that it will be launching a line of Pudgy Toys licensed directly from select NFTs held by people in its community. 

Over the last 24 hours, the collection saw a transaction volume of 256 ETH according to statistics from OpenSea. This was a threefold increase from the previous day. The collection’s floor price is now 2.73 ETH, up 18% from yesterday.

Launched in July last year, Pudgy Penguins ousted its original founders and announced new leadership in April 2022 after closing a 750 ETH sale to a group led by Los Angeles-based entrepreneur Luca Netz.

Netz bought over control of the project along with its royalties from the four original founders and along with his collaborator Cameron Moulène and several other stakeholders assumed leadership of Pudgy Penguin’s community called the “Huddle”.

The deal gave the buyers’ group the rights to launch a token and conduct airdrops to other holders of the NFT series as well as other products.

The announcement comes on the heel of Moonbirds’ recent switch to a CC0 license, which ruffled the feathers of some members of its community as it would grant anyone the rights to use Moonbirds’ artwork for commercial purposes. After the Moonbirds was made public domain, the median price of the NFT collection dropped to a two-month low.

Pudgy Penguins’ IP licenses are similar to the ones of CryptoPunks’ and Bored Ape Yacht Club’s, which only grants NFT holders commercial rights. The Huddle responded positively to the announcement of the physical toys as they congratulated holders of Penguins that were selected for the toy line.

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