From NFTs to Toys: How Pudgy Penguins Built a $50M Business

[madtrader]

Pudgy Penguins has transformed itself from a digital collectibles project into a consumer-facing brand as NFT trading activity slowed.

Founded in 2021 and acquired in 2022 by entrepreneur Luca Netz for $2.5 million in Ether, the project pivoted toward physical toy production to create sustainable revenue. While toy margins remain thin, the strategy allowed the company to scale over time.

What began as a temporary solution has now become a core business line, positioning Pudgy Penguins to close the year with an estimated $50 million in revenue.

[nihalsari]

they have truly evolved , when the market was down

[JanEmil]

Well done. Currently the NFTs in problems.