NFT OGs may recall the Pudgy Penguins NFT series as one of the first blue chips in the game. When the team minted the collection in mid-2021, it took the sales charts by storm, quickly becoming a darling of the NFT world as the hottest new animal-themed cartoon PFP NFT project.
The penguin avatars received endorsement from NFT influencers, attracted the attention of celebrities, and even earned a feature in The New York Times. In this article, we’ll explore Lil Pudgy, the sibling collection of the Pudgy Penguins, that plays a crucial role in the Pudgy ecosystem and IP. Let’s dive in!
What is Lil Pudgy NFT Collection?
Lil Pudgys serve as an extension of the Pudgy Penguins and provide an adorable and affordable entry point into the ecosystem. This collection comprises 22,222 penguin NFTs that are randomly generated and stand as allies of the Pudgy Penguins in their battle against the evil bears of negativity. As its name suggests, these little cuties resemble kiddie versions of the Pudgy Penguins.
Today is the beginning of a new era for Web3.
We’re happy to announce that Pudgy Toys and Pudgy World are now available. pic.twitter.com/UKbkIAJzvS
— Pudgy Penguins (@pudgypenguins) May 18, 2023
Hailing from the chilly corners of the web3 space, Lil Pudgys are cute and lovable, but don’t let their appearance deceive you. They are powerful and valiant allies in the fight against negativity. The project deliberately crafted its aesthetic to spread cool vibes and melt hearts along the way.
In fact, spreading warmth and cheer was the very essence and purpose behind this captivating project. But it has expanded to much more!
The Inception of the Lil Pudgys NFT Collection
In December 2021, the project team introduced the captivating Lil Pudgys as a second-tier collection, granting owners access to a range of enticing benefits akin to their first-generation counterparts, albeit at a different level. The distribution of Lil Pudgys occurred in two distinct ways:
- A public sale comprising 13,334 NFTs
- A claimable portion of 8,888 NFTs available freely for all Pudgy Penguin owners.
Although the public sale has concluded, owners can still claim their Lil Pudgys by visiting the official website. Lil Pudgys and Pudgy Penguins both bask in a shared realm of advantages, including access to immersive experiences, exclusive events, enticing opportunities for IP licensing, and more.
Pudgy Toys are not only a moment for Pudgy Penguins, they are a moment for Web3. Giving the public a non-intimidating first look into the blockchain is very important to our vision.
We’re on the path to be the face of NFTs and we are ecstatic you are all on this journey with us. pic.twitter.com/kJzfPKFOvl
— Pudgy Penguins (@pudgypenguins) May 18, 2023
While Pudgy Penguins may have a greater allocation when limited opportunities arise, there are also specific initiatives tailored exclusively for the delightful Lil Pudgys.
Traits and Ranking
The Lil Pudgy NFTs collection unveils an irresistible display of charm and vibrancy that has captivated many NFT collectors. Each Lil Pudgy is a delightful masterpiece, adorned with a plethora of beautiful color palettes and showcasing a distinct set of endearing expressions on every penguin.
These artistic variations make each Lil Pudgy a unique and coveted gem in the collection, enticing NFT enthusiasts with their adorable appeal. Lil Pudgys have 405 traits in 10 different categories. Of these, six are Legendary. The NFT can have any of these six or none. These traits and their probability are:
- Runt (0.01%)
- Astronaut (0.01%)
- Tree (0.01%)
- Hotdog (0.01%)
- Taco (0.01%)
- None (99.97%)
Background, Pudgy Knight, Left Flipper, Face, Skin, Right Flipper, Head, and Body are the other categories of traits.
As a rule of thumb, the fewer traits, the more expensive the NFT price. Notably, the collection comprises a mere 15 NFTs with just one trait count, and these fetch mind-boggling price tags that attest to their immense value. Let’s take a look at the utilities and ecosystem, shall we? But before that,
What is the Pudgy Penguins NFT Collection?
Pudgy Penguins is an Ethereum-based collection of 8,888 penguin avatar NFTs launched in July 2021. The project sold out in under 19 minutes, establishing the penguin avatars as an instant success. It is the parent collection of the Lil Pudgys.
Unbelievable… We sold out in 19 minutes today… pic.twitter.com/ZT8VSIKhLE
— Pudgy Penguins (@pudgypenguins) July 22, 2021
People traded some of the rare NFTs in the collection for as much as $463,500 at the time, and high-profile figures such as NBA All-Star Steph Curry and Canadian rapper Tory Lanez were among the collectors.
Currently, the project has generated over 164.7K ETH or approximately $300 million in sales, and has a floor price of 4.73 ETH.
Who is the Team Behind Lil Pudgy?
The OG team included Clayton Patterson (Mr. Tubby), Mickyj, Jonah, and Cole Villemain (ColeTherium). – most of them were college students. Moreover, the project’s early success was due to the team’s ambitious roadmap, which included a native token, a children’s book, and a metaverse game.
However, the team failed to deliver on their promises, and the community accused them of attempting to misappropriate project funds for personal gain.
On a side note: Little is known about Mickyj and Jonah, co-creators of the collection, but the community eventually removed them from the project.
Controversies About The Lil Pudgy NFT Collection
The downfall of the Pudgy Penguins NFT project began in December 2021 when the community moderator, Darth, publicly exited the project and accused the founders of unprofessional behavior.
Darth alleged that the team promoted him to community manager without agreeing to the job terms, and Cole even offered him 1 ETH to keep quiet about the incident. Cole had previously been associated with rug pull projects.
In the following month, NFT influencer 9x9x9 claimed that the Pudgy Penguin founders were attempting to sell the project after taking all the money. They also said the team rejected an offer of 888 ETH to buy the project.
As a result, many Pudgy Penguin holders shunned the project’s founders, feeling let down by the situation.
The Rise from Ashes and the New Team
Although facing numerous controversies, the Pudgy Penguins project found a savior in April 2022. A team led by Los Angeles-based entrepreneur Luca Schnetzler, also a holder of Pudgy Penguins NFT, acquired the project for a staggering 750 ETH (approximately $2.5 million).
Pudgy World is continuously developing as it is the foundation for a social experience powered completely by the blockchain.
Pudgy World is the hub that inspires connection and fun. pic.twitter.com/kX8dHO6Dq2
— Pudgy Penguins (@pudgypenguins) May 18, 2023
This acquisition helped boost the collection sales, increasing its floor price, which had dropped to 0.7 ETH a few weeks prior. Now the team includes:
- Luca Netz: CEO of Lil Pudgys, an experienced entrepreneur, investor, and software developer.
- Lorenzo Melendez: CTO of Lil Pudgys, a full-stack developer with blockchain technology and web development expertise.
- Nicholas Ravid: CMO of Lil Pudgys and also runs the official Instagram account.
- Peter Lobanov: CCO of Lil Pudgys, a seasoned designer with a graphic design and marketing background.
- Jennifer McGlone: CLO of Lil Pudgys, an attorney specializing in intellectual property law and blockchain technology.
- Dr. Kaizu: Head of Operations of Lil Pudgys, a blockchain enthusiast with a finance and economics background.
A New Beginning
In an April 2022 Medium post, the new team behind Pudgy Penguins NFT outlined their vision and introduced the individuals who would be leading the project. Under the guidance of Luca Schnetzler, the project has made significant progress, bringing its vision to life in the penguin world, also known as “The Huddle.”
One notable milestone came in July 2022 when Pudgy Penguins dropped its first soulbound token, representing plush physical collectibles. It marked the beginning of a range of SBTs released by the project.
The collection’s sales experienced a significant boost in August 2022 following the announcement of the Pudgy Toys lineup. Sales surged by 370% compared to the previous day, showcasing the excitement and interest surrounding the new offerings. Additionally, in the same month, one of the rarest NFTs in the collection was sold for approximately $600,000, underscoring the value and appeal of the project.
Then, September 2022 brought another exciting partnership for Pudgy Penguins as they announced a collaboration with PMI Toys, a renowned children’s toy manufacturer, to release physical versions of Lil Pudgys.
When you create your Forever Pudgy Penguin, you are minting it on the blockchain as a soulbound NFT while each trait is a tradeable NFT.
The minting process is gasless and is powered by @0xPolygonLabs and the traits marketplace is powered by @OriginProtocol. pic.twitter.com/8ZI6Y5FHUS
— Pudgy Penguins (@pudgypenguins) May 18, 2023
Amid that market-defying growth, the project assembled an advisory board of industry leaders from Meta and Hasbro, adding valuable expertise to its team.
Notably, Pudgy Penguins made headlines by announcing its partnership with leading Hollywood talent agency WME, indicating its ambitions to explore media projects and extend its reach beyond its current boundaries.
While these strategic moves have positioned Pudgy Penguins and Lil Pudgys to delve into mainstream opportunities, the project has also managed to solidify its standing among dedicated NFT enthusiasts.
Unlike many other projects that have experienced a decline in value during the market downturn, Pudgy Penguins has retained and even increased its value, contributing to its growing reputation and appeal within the NFT community. Why?
1. IP Utilization
The Pudgy Penguin developers and community are fervently leveraging the collective creativity of the Huddle (community) to forge and expand the Pudgy brand.
In adherence to the official Pudgy Penguin IP Rights document, all Pudgy holders have a limited, non-exclusive license with global reach to copy, access, utilize, and exploit their primary owner’s Pudgy Penguin NFT and its associated artwork.
This license empowers them to commercialize and promote their own goods and services. However, there is a condition for commercial usage: Pudgy owners must not exceed a revenue threshold of $500,000 within 12 months.
Essentially, this flexible copyrights contract bestows Pudgy holders the freedom to launch their own products and campaigns, thereby fostering the growth and proliferation of the Pudgy Penguins brand.
2. Pudgy Toys
In mid-2022, Pudgy Penguins collaborated with PMI Toys, a leading brand in children’s toys and merchandise, to integrate Web 3.0 IP rights with real-world merchandising. Moreover, the partnership will allow the community to grant the ‘Pudgy Plushies’ licensing rights.
Presenting the first ever Pudgy Penguins collectibles!
As a part of our extensive toy line with PMI Toys, these exclusive collectibles feature Lil Pudgys licensed directly from our community… pic.twitter.com/O5VZJieJmO
— Pudgy Penguins (@pudgypenguins) September 19, 2022
In essence, Pudgy Penguin holders have the potential to reap direct benefits from this partnership if their beloved Pudgy is selected for manufacturing by PMI Toys and subsequently made available for sale in retail stores.
It presents a fascinating approach to Web 3.0 licensing rights, as the venture blurs the boundaries between the digital and physical realms, offering Pudgy Penguin holders an unprecedented opportunity to partake in the profits generated through real-world merchandise collaborations.
3. penguPins & soulTransport
The penguPins serve as a unique identity for Pudgy Penguin community members and are soulbound tokens that track their contributions towards advancing the brand. It ensures that members get adequately rewarded for promoting Pudgy Penguins.
Introducing penguPins, our second soulbound token 🐧
🧵a thread from our team: pic.twitter.com/rDG0bAIpPv
— Pudgy Penguins (@pudgypenguins) August 12, 2022
In addition, the project has introduced the Pudgy soulTransport, which enables sub-communities to issue their own Soulbound Tokens in a decentralized manner. soulTransport allows for the distribution of SBTs by sub-communities to incentivize and attract new members.
Introducing The Pudgy soulTransport: a decentralized way for sub-communities to issue Soulbound Tokens 🧵 pic.twitter.com/sGN43kFdwQ
— Pudgy Penguins (@pudgypenguins) January 21, 2023
The ultimate goal is to enable Pudgy Penguins community members to participate in, create, and promote their own interests and passions within the ecosystem. It works as a system similar to college clubs, where users can apply, get approved, and receive support from the brand.
4. Pudgy Media
The Pudgy Penguins boast a vibrant media platform that operates entirely through the community’s collective efforts. Pudgy Media orchestrates special Twitter Spaces sessions to provide monthly project development updates while spearheading real-world events.
Among the most remarkable milestones achieved by Pudgy Media was the highly successful Pudgy Penguins VIP Yacht Party held during the Miami F1 Grand Prix in 2022.
This exclusive event was solely for Pudgy Penguin holders and was a highly effective PR initiative for the project.
Moreover, the official website offers an enticing Shop section that facilitates international shipping for purchasing Pudgy merchandise.
Additionally, a fun-filled Meme Creator powered by Youmeme enables users to craft entertaining memes online, further adding to the interactive and engaging experience provided by the Pudgy Penguins community.
5. Cross-chain Lil Pudgys
Lil Pudgys can ‘traverse‘ multiple blockchain networks, including Arbitrum, Polygon, and the BNB Chain. It means that holders can bridge their Lil Pudgy NFTs to different ecosystems. Transferring your Pudgy NFT is a simple process:
- Just visit the Pudgy Bridge website.
- Connect your wallet and select your NFT.
- Choose the desired blockchain.
Here’s how it works:
- The platform sents Lil Pudgy on Ethereum to a locked wallet, mints, and airdrops a corresponding Lil Pudgy on the target chain to your wallet.
- When you decide to bridge back, the platform burns the Lil Pudgy on the other chain and returns your Ethereum-based Lil Pudgy from the locked stake wallet.
Additionally, the bridging process rewards you with a Soulbound Token (SBT) based on the specific blockchain network you bridge your Lil Pudgy to. Each Lil Pudgy is eligible for one SBT, as its unique ID is marked off once you bridge it from Ethereum.
This strategic move by Pudgy Penguins opens up exciting opportunities for the future and expands the overall ecosystem. Implementing the bridging feature became possible through LayerZero Labs’ innovative omnichain technology.
There’s been a leak from the lab:
A portal allowing Lil Pudgys to travel between chains has opened…
The Lil Pudgys are officially cross-chain 🧵 pic.twitter.com/16xVApFduo
— Pudgy Penguins (@pudgypenguins) January 25, 2023
6. Pudgy Integrations
Here are some applications and utilities that you can access using your Pudgy Penguin:
- WorldwideWeb3 (WWW3): Interoperable meta-RPG in closed beta (Pudgy Penguins and Lil Pudgys have early access)
- Kiraverse: “Connect and Earn” MMO powered by GameStop and ImmutableX
- Jadu: Partnered with JaduAVAs to bring Pudgy Penguins to life with AR technology in Web3
- Cozyverse: On-chain community games ecosystem built on Polygon
- Play as your Pudgy Penguin or Lil Pudgy
- Helix metaverse: Platform centered around digital ownership and independent player economy
Feeling pudgy today!🐧
We’re thrilled to announce a partnership with @pudgypenguins to supply their holders with pudgy themed in-game assets!
We can’t wait to see everyone’s favorite communities inside of HELIX.
Join us in discord for our biggest showcase yet. Tomorrow. pic.twitter.com/AxkG27mufJ
— HELIX Metaverse (@HELIX_Metaverse) October 13, 2022
- 10KTF: Online shop with integrated metaverse and rich storytelling
- Pudgy Penguins supported NFTs
- Galaxy Fight Club: Play-to-earn game with Pudgy integration
- Pudgy Rods as an in-game weapon
- Isotile: Decentralized online metaverse based on Ethereum
- Create gallery rooms for NFTs and meet friends
- Webaverse: Browser-based open MMO-style metaverse game
- Fam: Event organization and Pudgy sub-community discovery using Fam
- Community and calendar page: Website
- Hologram: Become your penguin on social, gaming, or conferencing platforms
- Alethea AI: Create interactive NFTs with Alethea AI’s engine
- Bring Pudgy Penguin to life
- Details: Twitter
the moment is here 🔥🔥🔥
inside the world’s first intelligent metaverse, @pudgypenguins is officially available for fusion.
transform your penguin into an iNFT today! 👇
— Alethea AI (@real_alethea) July 14, 2022
- Nansen Connect: Web3-powered wallet messaging app
- Token-gated Pudgy Penguins channel
- Youmeme (meme maker): Create Pudgy-themed memes
- Integrated on the Pudgy Penguins website
- Meme Maker
7. A 9 Million Dollar Raise?
Pudgy Penguins has successfully raised $9 million in seed funding from a round led by early-stage investment firm 1kx, alongside Big Brain Holdings, Kronos Research, Old Fashion Research, CRIT Ventures, and the founders of LayerZero Labs.
The investment is by the belief that an NFT brand has the potential to expand into more extensive intellectual property plays, such as launching major movie and TV franchises from toy lines.
After all, Pudgy Penguins is more than just an NFT project; it is a transcendent IP brand offering enjoyable products, experiences, and content to a community of crypto-native and non-crypto-native consumers.
This success could pave the way for more significant IP moves in the subsector.
As a result, there could be a snowball (no pun intended!) effect in the industry, with Pudgy Penguins and other blue chips leading the way.
The Huddle: Thriving Community
The Lil Pudgys NFT collection has cultivated a thriving and lively community, affectionately called the Huddle.
Within this community, members are profoundly devoted and consistently radiate positivity. The Huddle is known for its strong bonds and camaraderie, creating an atmosphere of support and encouragement among its members.
At the time of writing, Lil Pudgys boasts over 17.4K followers on Twitter. Moreover, the Pudgy Penguins’ Twitter account itself has amassed an impressive following of 103.8K followers, while its Discord server has close to 40K members.
These figures reflect the active and engaged community surrounding the Lil Pudgys and its parent collection.
Once hailed as one of the most hyped NFT projects in mid-2021, Pudgy Penguins encountered significant challenges by the end of 2022.
However, the community’s resilience and CEO Luca Schnetzle’s leadership have turned the tide. The Huddle, as the community is affectionately known, has emerged more robust than ever.
Pudgy Penguins and Lil Pudgys have continued to captivate and surprise us with the creative utilization of Web 3.0 IP rights by both the community and developers.
The future holds intriguing possibilities for the project, and it will be fascinating to witness its continued evolution.
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