How Pudgy Penguins Went from Bankruptcy to $50 Million in 2025!

In 2022, Pudgy Penguins was on the edge of bankruptcy as NFT sales crashed. But then, a game-changing pivot happened that nobody saw coming PLUSHIES.

Luca Netz, who acquired the brand, turned the tide by moving Pudgy Penguins from the digital world into physical products. And it worked. BIG TIME.

2 million plushies sold
Retail deals with Walmart and Target
$50 million in revenue projected by 2025

This strategy saved Pudgy Penguins and transformed them into one of the most successful NFT brands ever! But the bigger question is can this model be replicated by other NFT projects?

Is physical merchandise the future of NFTs? Will brands like Pudgy Penguins become the blueprint for NFT sustainability?

What’s your take on this? Will physical products boost the NFT market, or was this just a lucky move?

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