Pudgy Penguins Deep Dive

Things have been very bad in the NFT market lately.
There are a lot of toxic people who try to insult or abuse NFT project founders in every way they can.
What if we're at the bottom?
That's why we decided to dive into one of the best collections on the market right now - Pudgy Penguins.

- How are the Pudgy Penguins trying to attract a Web 2.0 audience?
- Is Pudgy World a metaverse?
- How viable is the project in terms of monetization?

The team behind this project is currently excelling in their efforts to attract a non-NFT audience by:

- Creating viral content in Instagram (658,000 followers)

- Selling limited edition penguins on special web 2 sites.
On July 8 and 9, they will be launching the Pudgy Penguin Banana Suit in limited edition for $250.
It will be interesting to see how quickly they sell out.

- Expanding into the mass market by selling plush penguins on Amazon

In addition to their appealing appearance and being a delightful gift for children or NFT fans, they also emphasize that each penguin has its own QR code. By scanning it on the Pudgy World website, people can get a digitized penguin with random traits, which can be sold or added to their own penguin.

Here's a great example: a guy ordered a penguin for $20 and, upon scanning the QR code, discovered that its traits were worth around $200.
This tweet here: https://twitter.com/buscaverse/status/1660717381365145624

By the way, an interesting fact: over 30,000 people registered at PudgyWorld last month.
This suggests that the project has emerged from the bubble where it was only interesting to its hodlers.

Returning to the idea that every owner of a plush penguin can obtain a digital penguin, it seems that Pudgy Penguins may be working towards creating their own metaverse or something similar.

Several reasons support this:

- They raised $9 million from VCs and angel investors in May, likely for the development of a larger product.
- In December of last year, they released the new Lil Pudgys collection, which has a supply of 22,000. This was likely done to allow more Web3 users to use NFT penguins in a future metaverse.
- The Pudgy World website, where you can obtain your digitized penguin, features a large map that is mostly closed off, except for the location where you can play chess.

- @LucaNetz mentioned that Pudgy Penguins has one of the biggest announcements in the history of Web3 coming in Q4.

As a result of all these developments, there is a sense that Pudgy will soon announce its own game ecosystem.

Regarding the project's viability and monetization, the NFT space has been experiencing a bear market.
While collections used to generate substantial revenue from royalties, earnings have now decreased.
Even the blue-chip collections, such as the AZUKI, have had to seek additional funds to sustain operations, pay salaries, and cover expenses. Unfortunately, this has led to negative events.

In contrast, Pudgy Penguins stands out as the only collection in the market that has successfully entered the mass market, selling plush toys and collectible figurines. This unique position leads us to believe that Pudgy Penguins has the potential to survive the bear market without relying on funds from its hodlers to sustain operations.