The Pudgy Penguins NFT Collection saw a huge increase in trading volume starting today, October 7, 2023. Pudgy Penguins NFT Collection is an Ethereum-based collection that includes 8,888 NFTs, each with different properties.
Pudgy Penguins NFT trading volume skyrockets
The Pudgy Penguins NFT collection skyrocketed during the 2021 bull run, but soon experienced massive price swings until eventually the project’s IP was purchased outright by Luca Netz, a serial entrepreneur, for a whopping $2.5 million in April 2022. The project made further progress, raising $9 million in seed funding as of May 2023. The seed funding round, conducted by early-stage investment firm 1kx, witnessed the participation of several crypto-exclusive venture capital firms such as Big Brain Holdings, Old Fashion Research and CRIT ventures.
The Pudgy Penguins have been among the top crypto NFT collections in the world since they announced the launch of their toy collection in 2000 at various Walmart stores. Since their inception, Pudgy Penguins has generated more than $400 million in transaction volume, according to a report from Coingape earlier this week. The increase in Pudgy Penguin prices amid the ongoing slump in the NFT market could benefit Pudgy World collections.
Pudgy Penguins Extension Lil Pudgy Floor Price Up
Earlier this week, the Lil Pudgy Penguins NFT Collection, an extension of the Pudgy Penguins NFT Collection, saw a notable increase in its floor price, reaching a new high of $788 (0.48 ETH). Lil Pudgy Penguins is a collection of 22,222 additional NFTs.
According to a report, the total number of Pudgy Penguins NFTs minted to date is 21,252 owned by 7,673 different owners. The Lil Pudgy Collection is free to all Pudgy Penguin owners, but is only available through the sale to the general public.
Like their larger counterparts, Lil Pudgy offers their owners the same benefits and exclusive opportunities.
The Pudgy World combines blockchain technology of Ethereum and zkSync Era and also offers a wide range of toy collections called Pudgy Toys.
According to Luca Netz, the CEO of Pudgy Penguins, NFTs should not only be limited to the digital world but also have a wider presence, pointing to the burgeoning launch of toy collections, which cuts through the continued decline of the NFT market went away.