Bored Apes have crashed, and pixel art has all but lost its value. For many, it’s proof that NFTs are dead—a burst speculative bubble. Yet for nearly three years, one project has been proving the opposite: Pudgy Penguins.
What began in 2021 as a simple collection of cute penguin NFTs has evolved into a global IP brand: toys are sold at Walmart and Target, a children’s book is in the works, a mobile game is live, and there’s even a native token with a multi-billion-dollar valuation. “Many projects disappeared right after the hype, but we showed that with community and a real brand, an NFT can thrive far longer than six months,” says Fifi, a long-time holder we met at a conference in Dortmund. He won’t share his real name: “In Web3 you’re not just a name—you are your avatar. At conferences people recognize you by your Twitter profile, not your ID.”
Pudgy Penguins hit 500,000 downloads in two weeks
The new battle-royale title Pudgy Party from Pudgy Penguins racked up half a million downloads in its first two weeks, with players praising how thoughtfully and seamlessly its Web3 elements are integrated.
“It’s got just the right amount of Web3, and it doesn’t force you to buy tokens or NFTs from the start,” gamer Spike wrote on X. “I’ve played over 300 Web3 games, and I can confidently say @PlayPudgyParty is a masterpiece.”
I’ve played 300+ Web3 games and it’s safe to say @PlayPudgyParty is nothing short of a masterpiece.
— Spike 💫 (@SpikeCollects) August 30, 2025
Let me be clear, this isn’t a shill. I don’t hold bags, I’m not biased, and this isn’t sponsored.
The team perfectly incorporated the Pudgy IP in a fun and creative way. The core… pic.twitter.com/r7GVLiIqO3
That momentum may be one reason for Pudgy Party’s success: according to the project’s official X account, downloads since the August 29 launch have officially surpassed 500,000 across the Apple App Store and Google Play.
Pudgy Party has officially passed 500,000 downloads on the Apple App Store and Google Play Store.
— Pudgy Penguins (@pudgypenguins) September 11, 2025
Billions will party 🐧 pic.twitter.com/vqhdjI1whp
Empirex founder Zorin said he “onboarded” his sister to Pudgy Party. “This is exactly how you bring in new users: make it fun,” Zorin noted.
Onboarded my sister into Pudgy Party 🐧
— Zorin (@Zorin_NFT) September 14, 2025
This is exactly how you onboard new users make it fun to play.
Who’s down for a few rounds? pic.twitter.com/isPcD4jTbD
While the PENGU token hasn’t yet reclaimed its July all-time highs, it’s up nearly 20% over the past seven days and was trading at $0.03507 at press time, according to CoinMarketCap.
The project has grown into a billion-dollar business: in under a year, more than one million plush toys have been sold, generating over $10 million in revenue. They’re available in more than 3,100 Walmart stores, as well as Target and Walgreens. Each toy includes a QR code that unlocks digital content in the Pudgy World metaverse. “When someone shares a popular Pudgy GIF on WhatsApp, they don’t realize they’re making the brand stronger—but that’s exactly what happens,” Fifi explains.
The key twist: each penguin is its own piece of intellectual property. “It’s like Pokémon or the Smurfs—except thousands of people each own a character,” he says. Holders can license their penguins, market them independently, or route rights through the Overpass IP platform to produce official merchandise. If a character becomes a toy, the owner earns around 5% royalties on net sales. Without NFTs, such a model would be nearly impossible: “Imagine trying to manage rights for 10,000 characters with traditional contracts. NFTs make it feasible—ownership is transparent and verifiable on-chain.”
Beyond the original 10,000-item NFT collection, the PENGU token was introduced to broaden access to the ecosystem as the penguins themselves became too expensive. Today, over one million wallets hold the token, which unlocks exclusive content and features in Pudgy World. “When NFTs get too pricey, you risk stalling the community. With the token, we’ve brought in hundreds of thousands of new participants—not just consumers, but co-owners,” he says.
— The long-awaited Blockchain Game Alliance survey extended its submission deadline, giving industry professionals until October 3, 2025 to share insights on the blockchain gaming sector.
— Diamond Dream Match, a blockchain-based game that blends fine jewelry, luxury goods, and digital collectibles, is now available on Apple’s App Store and Google Play.
