What is the business strategy behind the sale of 750,000 Pudgy Penguins physical toys?
Blue-chip NFT project Pudgy Penguins has sold over 750,000 sets of physical toys since its launch. Through the QR codes on the toys, the project has obtained a potential customer list of over 55,000, laying the groundwork for future product sales and promotions.
(Note: This article does not provide investment advice)
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Pudgy Penguin toy sales exceed 750,000 sets
Combining channel marketing with brand management
Pudgy World captures user data
Pudgy Penguin’s comprehensive business strategy
Continuing low-cost marketing efforts
Brand value and revenue
Pudgy Penguins’ next step: scaling up
In April 2022, after obtaining permission from the Pudgy Penguins and Lil Pudgys communities, the physical toys were launched on Amazon, combining Pudgy World serial numbers to create an online and offline integration, successfully attracting market attention.
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(Pudgy Penguins physical toys launched on Amazon, sold 20,000 units in 48 hours! Cultivating a Web 3 audience from a young age)
Since its launch nine months ago, Pudgy Penguins toy sales have reached over 750,000 units. Calculated at $25 per doll, toy sales revenue alone amounts to $18.75 million, making it a significant income to sustain the project’s continued development.
Pudgy Penguins toys have successfully entered top channels such as Walmart, Toys “R” Us, and Macy’s. Official channels now cover nine countries, strengthening channel marketing strategies.
In addition to winning multiple mainstream awards from traditional brands, such as Amazon’s Best Seller, the project has increased its visibility through media interviews, including CNBC, Yahoo Finance, and Fox News. These efforts have helped enhance brand awareness and gain trust from the wider market.
With the QR codes attached to the physical toys, users can link to the online metaverse project Pudgy World. This not only drives traffic to new product lines but also allows for the capture of user email addresses, obtaining a precise list of potential customers.
(High-value NFT Pudgy Penguins to launch online game Pudgy World next year)
Having a customer list will facilitate future sales of other products, such as becoming a user of Pudgy World or purchasing the next generation of toys. Unlike other projects that mostly limit customer lists to NFT holders, Pudgy Penguins’ future business prospects are expected to be even better.
Currently, Pudgy World has accumulated approximately 55,000 accounts. Assuming half of these accounts were driven by physical toys, the conversion rate is approximately 3.6%.
Pudgy Penguins utilizes a low-price, multi-channel approach to reach potential users with a low barrier of entry. Through the barcodes on the toys, they drive traffic to new online products, capture customer lists, and enhance brand trust through media coverage and traditional awards. They have successfully maximized marketing effectiveness at a low cost.
In the Web3 environment where attention is scarce, it is natural for OG NFT projects to attract market attention and drive up prices. Currently, the floor price for Pudgy Penguins NFTs is approximately 18 ETH.
Even without considering brand premiums, if toy sales volume is maintained, it is expected to generate approximately $25 million in revenue annually, making it highly competitive among most Web3 projects.
With the achievements mentioned above, the Pudgy Penguins team has completed market testing and achieved product-market fit (PMF). The next step is rapid growth.
Pudgy Penguins’ next plans include continuing to increase its customer list, improving conversion and retention through the official launch of Pudgy World, or introducing more product lines to further drive growth with the help of customer lists.
However, the market environment is changing rapidly, and major projects have also been active recently. There are still many factors that will determine whether Pudgy Penguins will have the last laugh.
(Note: This article does not provide investment advice)
Lil Pudgys
Pudgy Penguins
Business strategy
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Further reading:
2023 NFT Development Review: Blur Points, Elementals Controversy, Ordinals’ Popularity
Blue-chip NFT Pudgy Penguins to launch online game Pudgy World next year
