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- RRUPDATES📍: Pudgy Penguins Sees A Whopping 241% Surge In Trading Volume Post Walmart Partnership🐧🔺
RRUPDATES📍: Pudgy Penguins Sees A Whopping 241% Surge In Trading Volume Post Walmart Partnership🐧🔺
In a recent turn of events, the trading volume of Pudgy Penguins soared by an impressive 241% within a week, following a lucrative deal with retail behemoth Walmart.
The R Roundup
October 02, 2023
RRUPDATES📍: Pudgy Penguins Sees A Whopping 241% Surge In Trading Volume Post Walmart Partnership🐧🔺
In a recent turn of events, the trading volume of Pudgy Penguins soared by an impressive 241% within a week, following a lucrative deal with retail behemoth Walmart.
This surge was observed between September 24 and October 1, marking a significant milestone for the whimsical NFT (Non-Fungible Token) project.
The collaboration unfolded last week when Walmart unveiled its plans to feature Pudgy Penguin-branded toys across a sprawling network of 2,000 stores. This initiative not only amplifies the brand's physical presence but also intertwines the digital realm through an engaging gaming platform dubbed Pudgy World. Upon purchasing one of the 26 distinct toys, customers unlock access to this platform where they can indulge in various games and craft a unique "Forever Pudgy" avatar. The toys are priced at a modest $12, making them an accessible gateway to both the tangible and virtual Pudgy Penguin universe.
The ripple effect of this collaboration was palpable in the trading circles of Pudgy Penguins. The NFT project witnessed its trading volume skyrocket to $3.32 million between the aforementioned dates, marking a 241% uptick from the preceding week.
According to data sourced from The Block's Data Dashboard, this weekly volume is the zenith the project has reached since July, underscoring the profound impact of the Walmart deal.
Pudgy Penguins, a cherished collection of 8,888 cartoonish penguins, has been making waves in the NFT marketplace. As of now, the project boasts a staggering total trading volume of 190,563 ETH (equivalent to $321.9 million) and commands a floor price of 4.9 ETH (around $8,270) on the renowned NFT marketplace, OpenSea.
The Walmart-Pudgy Penguin alliance exemplifies a burgeoning trend of mainstream retail giants forging ties with digital collectibles, thereby bridging the gap between the physical and digital commerce realms. This synergy not only propels the brand's visibility and trading volume but also enriches the consumer experience by offering a blend of tangible products and digital engagement.
As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies.
This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.
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