- Pudgy Penguins decides to license selected NFTs to be made into physical toys.
- Luca Netz took over Pudgy Penguin for 750 ETH.
- The floor price stood at 2.63 ETH, an increase of 18%.
The Pudgy Penguins, a collection of 8,888 NFTs with proof-of-ownership sold on OpenSea, saw the prices of its NFTs rise with the licensing of selected NFTs in its collection to be made into real-life toys.
The Pudgy Penguins’ decision to license some of its NFTs coincides with a critical time where there are debates about license rights to holders with the floor prices of Moonbird tanking since its switch to the CCO license, which gives permission for anyone to use the project’s artwork for the creation of commercial products – not exclusive rights to the NFT holder.
The fluctuation of its NFT prices since last June 2021 and the lofty promises of launching a children’s book, a token, and a metaverse not being met saw the expulsion of the leadership team, and the ownership of Pudgy Penguin being taken over by Luca Netz, an entrepreneur from Los Angeles, in April for 750 ETH, which at the time was $2.5 million.
According to OpenSea, the collection saw a sale of 252 ETH, which is around $466,000 within the last 24 hours, amounting to a 370% increase when compared to the previous day’s sale.
According to the NFT collection, the floor price of each Pudgy Penguin stood at 2.63 ETH, which is around $4,900, an increase of 18% from yesterday and a 60% increase from the last 30 days.