Jun 3, 2024 - Economy

🕹️ Pudgy Penguins announces a game partnership

Illustration of a marching line of penguins wearing gold stars, top hats, monocles, and bow ties.

Illustration: Lindsey Bailey/Axios

A high-quality mobile game is planned for the Pudgy Penguins NFT line next year, courtesy of a new partnership with Mythical Games.

Why it matters: Pudgy Penguins has been winning 2024, getting its intellectual property into Walmart and Target as physical toys, as well as dramatically increasing the value of its NFTs.

Yes, but: To stick the landing, it will need to be a good game.

  • Pudgy Penguins' second CEO, Luca Netz, told Axios in February that he believed the social aspect is what makes games fun.

Context: NFTs offer, potentially, a built-in fanbase for products built around the underlying IP.

By the numbers: Floor prices (the value of the most common items in an NFT collection) have quintupled since Netz took over the Penguins, going from about 2 ETH to 10 ETH today (roughly $37,000).

avatar

Subscribe for more Axios Crypto in your inbox.

Read the full edition