Pudgy Penguins Joins Lotte Group To Expand Its NFT Toys Presence In South Korea

Pudgy
Penguins,
the
famous
toy
brand
and
the
digital
asset
incubation
studio
behind
the
Pudgy
Penguins
non-fungible
token
collection,
has
entered
a
strategic
partnership
with
the
Lotte
Group,
a
retail
and
entertainment
conglomerate,
to
expand
its
toys
presence
in
South
Korea
and
beyond.

Pudgy
NFT-inspired
Toys
Are
Now
Heading
To
South
Korea

In
a
May
17

blog
post,
the
digital
asset
firm
Pudgy
Penguins
confirmed
partnering
with
the
Lotte
Group
to
expand
its
toy
presence
across
South
Korea
and
beyond.
The
new
partnership
appeared
just
a
few
days
after
the
toy
brand
partnered
with
Target
to
expand
its
presence
in
the
United
States.

Established
in
2021,
Pudgy
Penguins
is
a
digital
asset
incubation
studio
dedicated
to
making
Web3
accessible
to
everyone
by
creating
innovative
products
that
enable
seamless
onboarding.
Its
focus
on
community
empowerment
and
building
brand
awareness
has
made
Pudgy
Penguins
the
leading
IP
in
the
Web3
space
while
disrupting
the
traditional
IP
sphere.

The
Pudgy
Penguins
firm
started
as
a
non-fungible
token
project,
launching
Pudgy
Penguins,
a
non-fungible
token
collection
featuring
a
limited
edition
of
8,888
unique
crypto
tokens
depicting
adorable
chubby
cartoon
penguins
birds
hosted
on
the
Ethereum
blockchain
network,
in
August
2021.

On
December
19,
2021,
the
Pudgy
Penguins
team
launched
Lil
Pudgys,
a
non-fungible
token
collection
featuring
a
limited
edition
of
22,222
NFTs
hosted
on
the
Ethereum
chain.
These
NFTs
were
released,
with
8,888
being
claimable
to
individuals
who
already
held
Pudgy
Penguins
NFTs
through
a
free
claim
link
on
their
website,
while
the
remaining
NFTs
were
open
to
the
general
public
to
purchase.

Pudgy
Penguins’
Journey
As
An
NFT
Toys
Brand

The
Pudgy
Penguins
started
evolving
from
an
NFT
project
to
become
a
leading
toy
brand
sometime
earlier
last
year.
In
May
2023,
the
Pudgy
Penguins
started
selling
its
NFT
toys
on
Amazon,
an
e-commerce
market.
At
the
time,
the
toy
brand
gained
massive
traction,
making
over
$500,000
in
purchases
over
the
first
two
days,
surpassing
20,000
individual
toys
sold.

A
few
months
later,
the
Pudgy
Penguins
team
announced
the
expansion
of
its
Pudgy
Toys
in
2,000
Walmart
stores
across
the
United
States
of
America.
The
Pudgy
Penguins
team
has
since
expanded
its
NFT-inspired
toy
offering
to
other
parts
of
the
world,
including
the
United
Kingdom.
Pudgy
Penguins
NFT
Toys
are
now
available
in
various
places
across
the
UK,
Asia,
USA,
and
Canada.
The
team
has
vowed
to
share
more
information
about
its
NFT
toy
expansion
in
South
Korea.

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