KEY POINTS
Pudgy Penguins non-fungible tokens (NFTs) are making their way to South Korea through a collaboration with Lotte Group — the country’s largest food business conglomerate.
The announcement was made today via a post on X (Twitter) by the Pudgy Penguins profile. “Pudgy Penguins has entered a strategic partnership with Lotte Group […] to expand our presence in South Korea and beyond,” the post reads.
While specific details were not disclosed, the post hinted at forthcoming announcements.
Whether this partnership involves introducing NFT-inspired toys to Lotte department stores remains uncertain, but recent developments suggest this could be the case.
Just two days ago, Pudgy Penguins announced the availability of Pudgy Toys at GameStop stores, following earlier news of availability at Target stores.
The decision to venture into physical products has proven lucrative for Pudgy Penguins, with over 1 million plushies sold (totaling over $10 million in sales) within the first year of availability at Walmart stores.
This physical journey began with toys being stocked in 2,000 Walmart stores across the United States, later expanding to an additional 1,100 stores.
Pudgy Toys are plushies resembling characters from the original NFT collection, each equipped with a QR code for unlocking rewards within Pudgy World — a metaverse space for Pudgy characters and interactive quests.
The NFT collection, which debuted in August 2021, features 8,888 cartoon penguin characters minted on the Ethereum blockchain.
The recent partnership announcements have bolstered the Pudgy Penguins collection. CoinMarketCap data shows a 120% increase in sales volume over the past 7 days — totaling over $11.7 million — and a 115% increase in sales.
