KEY POINTS
Popular non-fungible token (NFT) project Pudgy Penguins introduced “Igloo Inc,” its parent company, which will also oversee OverpassIP.
“Our mission is to create the largest onchain community, driving the consumer crypto revolution,” reads an X (Twitter) post from Pudgy Penguins shared on June 22.
Igloo Inc was established to support Web3 onboarding, centering its efforts around the Pudgy Penguins project. OverpassIP, on the other hand, will connect collectors with the brand through licensing.
OverpassIP offers a comprehensive platform for NFT holders and brands. NFT owners can submit their digital assets for potential licensing, while brands can access a curated selection of NFTs to find the intellectual property that aligns with their goals.
This initiative follows Orange Cap Games’ April announcement of plans to license 200 Pudgy Penguins NFTs from the community through OverpassIP for an upcoming Web3 trading card game.
Since its inception in 2021, Pudgy Penguins has been a key player in the NFT space, known for its active community engagement. This engagement has been bolstered by the company’s efforts to expand the project and enhance community benefits.
One such effort was in April, when Pudgy Penguins partnered with Unstoppable Domains to introduce the first NFT-focused Web3 domain. This initiative offered users unique digital identities and fostered community through themed badges.
Additionally, Pudgy Penguins launched a line of toys depicting their NFTs. In September of last year, these toys were introduced in 2,000 Walmart stores, providing buyers with digital perks. A few months later, they expanded to an additional 1,100 Walmart stores.
This year, the Pudgy Toys project expanded further, becoming available in Target, GameStop, and Big W stores.
