The Cutest Trojan Horse
Pudgy Penguins unveiled its Pudgy Toys collectible line last night with the hope of bringing its IP to the masses and the masses to web3.
Logie's Market Summary
It's Logan again, rounding out the week with a few recaps of some notable stories in NFTs.
Today’s top news:
Pudgy Toy launch
Chimpers/Cool Cats community updates
Pudgy Toys Are Here
The most anticipated event of the week was the launch of Pudgy Toys, the Pudgy Penguin’s physical collectible line. In partnership with PMI Toys and Retail Monster, the Pudgy brand has been hard at work developing a line of collectibles that are available to the mass market as a means of expanding the collection's IP. They were officially unveiled last night.
Here are the very basics of the launch:
Six different collectible types
Price points vary from $8.99 to $24.99
Shipping is expected to start June 3, with delivery at the end of June depending on your geographic location
Available for purchase here
The reaction from the web3 community was overwhelmingly positive. There are too many potential quotes to embed, so just take a scroll through the replies to the announcement tweet.
We also got more details about just how exactly the Pudgy Toys would act as Trojan Horses for Web3 adoption—enter, Pudgy World.
What the Heck Is Pudgy World?
Pudgy World is the digital experience that comes with the purchase of a Pudgy Toy collectible. Access to the world is unlockable after unboxing, providing "an experience that gives the non-NFT public their very first blockchain wallet, Soulbound NFT, and Tradeable NFTs, all in one simple sign-up."
Here's a quick rundown of the steps:
Each Pudgy Toy comes with a birth certificate that has a QR code.
Scanning this code provides a unique trait code.
The users can then sign into PudgyWorld.com, either with an existing crypto wallet or an email address. Using email will create a unique wallet for the user.
Inside Pudgy World, users enter the unique trait code to "redeem a trait box." This begins an unboxing experience where they can collect traits for their own Pudgy Penguin character.
These traits, which are also NFTs, can be bought, sold, and used for customizing characters.
You can watch Luca undertake this process as well.
The toys have been on the market for just more than 12 hours at this point, and some are already out of stock and labeled as the No. 1 New Release in Amazon's Toys & Games category.
Congrats, Pudgys. I can't wait to throw this guy on my desk.
While we had some warning about the Pudgy Toys announcement, I don't think anyone could have expected that notable crypto personality and former(?) NFT hater, Cobie, would start an NFT trading quest in pursuit of a $1 million portfolio valuation.
Wait, what? Yeah. That Cobie.
It started with the humble purchase of friend No. 22 from the Forest, No Collection, for 0.08 ETH. From there, Cobie is attempting to trade his way to an NFT or group of NFTs worth at least $1 million.
Only peer-to-peer trades
50 swaps maximum
One year timeframe
Cannot swap NFTs for ETH or stablecoins
After his opening tweet, which included the cry "Pls tell me what NFT you will give me for my badger," Cobie received a flurry of offers, which included multiple tubby cats, Cryptovoxel parcels, a Nakamigo, and more.
Ultimately, Cobie ended up making his first trade for one of XCOPY's Max Pain and Frens NFTs, valued at around 0.45 ETH.
Since that time, he has made four more swaps (bringing the total to 5 of 50 possible) and traded up from 0.08 ETH to around 7.7 ETH in valuation at the time of writing. The swaps are listed below.
Friend No. 22 for Max Pain and Frens
Max Pain and Frens for Sappy Seal
Sappy Seal for Remilio
Remilio for Rare Pepe
Rare Pepe for Matt Furie's PEGZ 093
In less than one day, he's mustered more than a $13,000 gain.
When asked, why do something like this?
Cobie replied, "I’m just trying to do the red paperclip thing but with NFTs because I am bored."
You can follow the rest of the journey via our Twitter or the original reporting.
🚚 What else is happening in NFTs?
Here is a list of other notable headlines from the day in NFTs:
Autograph, co-founded by Tom Brady, grabbed ownership in a SimWin Sports Team.
SWOOSH delayed its general sale.
Cool Cats launched Journeys Season 2, letting Shadow Wolves join the fun.
🌎 Around Crypto and Web3
A few other crypto and Web3 headlines caught my eye:
The crypto market was down; BTC down 1.9% to $26,831; ETH down 1% to $1,808
LooksRare started its second raffle with another BAYC up top and 10 0N1 Force for the taking.
🚀 NFT Total Volume
Wrapped CryptoPunks (1,990 ETH, 49.99 ETH Floor)
MAYC (1,022 ETH, 9.95 ETH)
BAYC (791 ETH, 47.22 ETH)
Pudgy Penguins (715 ETH; 4.89 ETH)
Milady Maker (512 ETH, 4.90 ETH)
📈 NFT Floor Price Increase
10KTF Kagami (69%, 2.95 ETH Floor)
Friendship Bracelets (35%, 0.17 ETH)
Damien Hirst - The Currency (14%, 2.39 ETH)
KILLABITS (7%, 0.64 ETH)
CyberKongz Babies (6%, 1.24 ETH)
🗓 Upcoming NFT Mints and Reveals
Grails Part 1 - Sothebys (10:00 a.m. ET)
The Red Dream by RedRuM (11:00 a.m. ET)
Enjoy this write-up? Follow along with me on Twitter @lhitch09 or reach out via email email@example.com.
For all volume and floor price data, see Lucky Trader's Project Rankings page.
For all upcoming mints, see Lucky Trader's Project Schedule page.