Blue-chip NFT project Pudgy Penguins has sold over 750,000 sets of physical toys since its launch. Through QR codes on the toys, they have acquired a potential customer list of over 55,000, preparing for future product sales and promotion.
(Disclaimer: This article does not constitute investment advice)
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Pudgy Penguin toy sales exceed 750,000 sets
Combining channel marketing with brand management
Pudgy World gains user list
Pudgy Penguin’s comprehensive business strategy
Continued low-cost marketing
Brand value and revenue
Pudgy Penguins’ next step: scaling
In April 2022, after obtaining permission from the Pudgy Penguins and Lil Pudgys communities, the physical toys were launched on Amazon, combining with the Pudgy World serial number to create online and offline integration, successfully attracting market attention.
(Pudgy Penguins physical toys launched on Amazon, selling 20,000 units in 48 hours! Cultivating Web 3 customer base from a young age)
Since its launch nine months ago, Pudgy Penguins has sold over 750,000 toy sets. Calculated at $25 per doll, the toy sales revenue alone amounts to $18.75 million, undoubtedly a considerable income for the project’s continued development.
Pudgy Penguins toys have successfully entered top-tier channels such as Walmart, Toys “R” Us, and Macy’s. The official channels now cover nine countries, strengthening channel marketing strategies.
In addition to winning multiple mainstream awards from traditional brands, such as Amazon’s Best Seller, Pudgy Penguins has also increased its brand awareness through media interviews, including CNBC, Yahoo Finance, and Fox News, which all contribute to enhancing brand recognition and market trust outside the crypto community.
Through the QR codes attached to the physical toys, users can link to the online metaverse project Pudgy World. This method not only directs traffic to new product lines but also enables the capture of user email addresses, obtaining precise potential customer lists.
(High-profile NFT Pudgy Penguins to launch online game Pudgy World next year)
Having a customer list will be beneficial for future product launches, such as attracting users to become Pudgy World users or purchasing the next generation of toys. Unlike other projects that mostly limit customer lists to NFT holders, Pudgy Penguins will have better business prospects in the future.
Currently, Pudgy World has accumulated approximately 55,000 accounts. Assuming half of these accounts were driven by physical toys, the conversion rate is approximately 3.6%.
Pudgy Penguins has maximized marketing effectiveness by using low-priced toys and multiple channels to reach potential users. By directing users to online new products through barcodes on the toys, and combining media coverage and traditional awards to increase brand trust, they have achieved success through low-cost methods.
In the Web3 environment, where attention is scarce, it is natural to drive market attention to OG NFT projects, resulting in price increases. Currently, the floor price for Pudgy Penguins NFT is approximately 18 ETH.
Even without considering brand premium, if toy sales volume is maintained, it is estimated to generate approximately $25 million in revenue annually, making it already more competitive than most Web3 projects.
With the achievements mentioned above, the Pudgy Penguins team has completed market testing and achieved Product-Market Fit (PMF). The next step is rapid growth.
Pudgy Penguins’ next plan is to continue increasing the customer list, while formally launching Pudgy World to enhance list conversion and retention, or introducing more product lines to further capitalize on the customer list for growth.
However, the market environment is rapidly changing, and major projects have been taking frequent actions recently. There are still many factors that may impact whether Pudgy Penguins can have the last laugh.
(Disclaimer: This article does not constitute investment advice)
Lil Pudgys
Pudgy Penguins
Business strategy
Further reading
2023 NFT Development Review | Blur Points, Elementals Controversy, Ordinals Soaring
Blue-chip NFT Pudgy Penguins to launch online game Pudgy World next year