NFT News: Pudgy Penguins NFT Trading volume up by 530%

The Pudgy Penguins NFT collection experienced a colossal surge in trading volume as of today, October 7, 2023. Pudgy Penguins NFT collection is an Ethereum-based collection encompassing 8,888 NFTs, each with different traits.

Pudgy Penguins NFT Trading Volume Shoots

Pudgy Penguins NFT collection skyrocketed amidst the 2021 bull run but soon experienced massive price fluctuations until finally, the project IP outright was bought by Luca Netz, a serial entrepreneur, for a whopping $2.5 million in April 2022. The project made further advancements and raised a thumping $9 million in seed funding as of May 2023. The seed funding round conducted by early-stage investment firm 1kx witnessed participation from various crypto-exclusive venture capitals such as Big Brain Holdings, Old Fashion Research, and CRIT ventures.

The Pudgy Penguins is among the best NFT collections crypto realm ever since they announced the launch of their Toy collection across 2000 different Walmart stores. From their inception, Pudgy Penguins already generated more than $400 million in transaction volume, according to a report by Coingape earlier this week. The surge in Pudgy Penguin prices amidst the ongoing NFT market slump may benefit the Pudgy World collections.

Pudgy Penguins Extension Lil Pudgy Floor Price Up

Earlier this week, the floor price of Lil Pudgy Penguins NFT collection, an extension of the Pudgy Penguins NFT collection, saw a notable increase in the floor price and reached 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 till now amounts to 21,252 held by 7,673 different owners. The Lil Pudgy collection is free for all Pudgy Penguin owners, but it is only available for the ordinary public via sales.

Similar to their larger counterparts, Lil Pudgy provides their owners with the same perks and exclusive opportunities.
The Pudgy World amalgamates blockchain technology from 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 broader presence, indicating the burgeoning toy collection launch, which went right through the ongoing NFT market plunge.