Pudgy Penguins Joins Lotte Group To Expand Its NFT Toys Presence In South Korea

Updated: 17 May 2024

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Pudgy Penguins, the famous toy brand and the digital asset incubation studio behind the Pudgy Penguins non-fungible token collection, has entered a strategic partnership with the Lotte Group, a retail and entertainment conglomerate, to expand its toys presence in South Korea and beyond.

Pudgy NFT-inspired Toys Are Now Heading To South Korea

In a May 17 blog post, the digital asset firm Pudgy Penguins confirmed partnering with the Lotte Group to expand its toy presence across South Korea and beyond. The new partnership appeared just a few days after the toy brand partnered with Target to expand its presence in the United States.

Established in 2021, Pudgy Penguins is a digital asset incubation studio dedicated to making Web3 accessible to everyone by creating innovative products that enable seamless onboarding. Its focus on community empowerment and building brand awareness has made Pudgy Penguins the leading IP in the Web3 space while disrupting the traditional IP sphere.

The Pudgy Penguins firm started as a non-fungible token project, launching Pudgy Penguins, a non-fungible token collection featuring a limited edition of 8,888 unique crypto tokens depicting adorable chubby cartoon penguins birds hosted on the Ethereum blockchain network, in August 2021.

On December 19, 2021, the Pudgy Penguins team launched Lil Pudgys, a non-fungible token collection featuring a limited edition of 22,222 NFTs hosted on the Ethereum chain. These NFTs were released, with 8,888 being claimable to individuals who already held Pudgy Penguins NFTs through a free claim link on their website, while the remaining NFTs were open to the general public to purchase.

Pudgy Penguins’ Journey As An NFT Toys Brand

The Pudgy Penguins started evolving from an NFT project to become a leading toy brand sometime earlier last year. In May 2023, the Pudgy Penguins started selling its NFT toys on Amazon, an e-commerce market. At the time, the toy brand gained massive traction, making over $500,000 in purchases over the first two days, surpassing 20,000 individual toys sold.

A few months later, the Pudgy Penguins team announced the expansion of its Pudgy Toys in 2,000 Walmart stores across the United States of America. The Pudgy Penguins team has since expanded its NFT-inspired toy offering to other parts of the world, including the United Kingdom. Pudgy Penguins NFT Toys are now available in various places across the UK, Asia, USA, and Canada. The team has vowed to share more information about its NFT toy expansion in South Korea.