Uptick in Pudgy Penguins trading volume following Walmart deal

Following the NFT platform’s collaboration with retail giant Walmart, the weekly trading volume of Pudgy Penguins shot up by around 241%.

According to experts who have been closely monitoring live cryptocurrency prices, between September 24, 2023, and October 1, 2023, the trading volume of Pudgy Penguins increased by 241% compared to the earlier week. The NFT project brought in $3.32 million in trading volume during the period. The figure is also the platform’s highest since July. 

On September 26, 2023, retail giant Walmart stated that it would be selling toys associated with the Pudgy Penguins brand across its 2,000 stores. The collection would feature 26 Pudgy Penguins toys. By purchasing any of these toys, a customer would be able to gain access to the platform’s gaming portal, Pudhy World. In the portal, one can look forward to playing exciting games while creating a customized ‘Forever Pudgy’ avatar. Each toy would be priced at $12. 

Market experts claim that the jump in Pudgy Penguins’ trading volume is unlikely to impact live cryptocurrency prices.

Designed as an Ethereum-based NFT platform, Pudgy Penguins features 8,888 penguin-inspired digital collectibles. According to the platform’s official website, the Web 3.0 brand has been developed to foster values like freedom, a sense of community, and creativity in the DeFi ecosystem. The brand rolls out not just NFTs but also official merchandise, digital content, and toys. The platform also features a unique collection of digital collectibles called ‘LIL PUDGYS’ which are inspired by penguins of northern descent. These digital creatures have been designed as fierce and can fight bearers of negativity. The collection comprises 22,222 collectibles.

Disclaimer: This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Puskar Pande

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