Pudgy Penguins, a renowned toy brand and digital asset incubation studio, has entered into a strategic partnership with retail and entertainment conglomerate Lotte Group to expand its toy business in South Korea and other regions.
In a blog post on May 17, digital asset company Pudgy Penguins confirmed a partnership with Lotte Group to expand its toy business in South Korea and other regions. The new partnership comes just days after the toy brand partnered with Target to expand its business in the United States.
Founded in 2021, Pudgy Penguins is a digital asset incubation studio dedicated to making Web3 accessible to everyone and enabling seamless onboarding by creating innovative products. Its focus on community empowerment and brand awareness has made Pudgy Penguins a leading IP in the Web3 space and disrupted the traditional IP space.
Pudgy Penguins, Inc., originally a non-fungible token project, launched Pudgy Penguins in August 2021, a non-fungible token collectible consisting of 8,888 unique crypto tokens depicting a cute chubby cartoon penguin bird, hosted on the Ethereum blockchain network.
On December 19, 2021, the Pudgy Penguins team launched Lil Pudgys, a non-fungible token collection consisting of 22,222 limited edition NFTs hosted on the Ethereum chain. 8,888 of these NFTs can be claimed through the free claim link on their website to individuals who already hold Pudgy Penguins NFTs, while the remaining NFTs are open to the public for purchase.
The evolution of Pudgy Penguins as an NFT toy brand
Pudgy Penguins has gradually grown from an NFT project to a leading toy brand. In May 2023, Pudgy Penguins began selling its NFT toys on the e-commerce marketplace Amazon. At the time, the toy brand gained a lot of attention, achieving more than $500,000 in sales in the first two days and selling more than 20,000 individual toys.
A few months later, the Pudgy Penguins team announced the expansion of its Pudgy toys to 2,000 Walmart stores in the United States. Since then, the Pudgy Penguins team has expanded its NFT-inspired toy products to other parts of the world, including the UK. Pudgy Penguins NFT toys are now available in various locations in the UK, Asia, the United States, and Canada. The team promises to share more information about its expansion of NFT toys in South Korea.
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