Morning Minute | Pudgy Toy Launch, Cobie's Quest
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Take a minute to catch up on the latest in the web3 space with today's NFT market analysis, top movers, and upcoming mints:
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Logie's Market Summary
It's Logan again, rounding out the week with a few recaps of some notable stories in NFTs.
Pudgy Toys Are Here
The most anticipated event of the last week was the launch of Pudgy Toys, the Pudgy Penguins physical collectible line. In partnership with PMI Toys and Retail Monster, the Pudgy brand has been hard at work developing a line of collectibles that were available to the mass market as a means of expanding the collection's IP and finally unveiled them last night.
Here's are the VERY basics of the launch:
- Six different collectible types
- Price points vary from $8.99 to $29.99
- Shipping expected to start June 3, delivery end of June depending on geographic location
- Available for purchase here
The reaction from the web3 community was overwhelmingly positive. There are too many potential quotes to embed, so just take a scroll through the replies to the announcement tweet.
We also got more details about just how exactly the Pudgy Toys would act as Trojan Horses to web3 adoption...enter, Pudgy World.
What the Heck Is Pudgy World?
Pudgy World is the digital experience that comes with the purchase of a Pudgy Toy collectible. Access to the world is unlockable after unboxing, providing "an experience that gives the non-NFT public their very first blockchain wallet, Soulbound NFT, and Tradeable NFTs, all in one simple sign-up."
Here's a quick rundown of the steps:
- Each Pudgy Toy comes with a birth certificate that has a QR code.
- Scanning this code provides a unique trait code.
- The users can then sign into PudgyWorld.com, either with an existing crypto wallet or an email address. Using email will create a unique wallet for the user.
- Inside Pudgy World, users enter the unique trait code to "redeem a Trait Box." This begins an unboxing experience, where they can collect traits for their own Pudgy Penguin character.
- These traits, which are also NFTs, can be bought, sold, and used for customizing characters.
You can watch Luca undertake this process as well.
Pudgy Toys mark a special moment in history. They are the first mass-market product licensed DIRECTLY from the community.
— Pudgy Penguins (@pudgypenguins) May 18, 2023
This will be the first time that NFTs and blockchain technology are introduced to the everyday consumer, in a seamless, non-intimidating way. pic.twitter.com/SOSFAjEubN
The toys have been on the market for just more than 12 hours at this point and some are already out of stock and labeled as the No. 1 New Release in Amazon's Toys & Games category.
Congrats, Pudgys. I can't wait to throw this guy on my desk.
Cobie's Quest
While we had a heads up about the Pudgy Toys announcement, I don't think anyone could have expected that notable crypto personality and former(?) NFT hater, Cobie, would start an NFT trading quest in pursuit of a $1 million portfolio valuation.
Wait, what? Yeah. That Cobie.
It started with the humble purchase of friend No. 22 from the Forest, No collection for 0.08 ETH. From there, Cobie is attempting to trade his way to an NFT or group of NFTs worth at least $1 million dollars.
The Rules
- Only peer-to-peer trades
- 50 swaps maximum
- 1 year timeframe
- Cannot swap NFTs for ETH or stablecoins
The Trades
After his opening tweet, which included the cry "Pls tell me what NFT u will give me for my badger," Cobie recieved a flurry of offers which included multiple tubby cats, Cryptovoxel parcels, a nakamigos and more.
Ultimately, Cobie ended up making his first trade for one of XCOPY's Max Pain and Frens NFTs valued at around 0.45 ETH.
Since that time, he has made four more swaps (bringing the total to 5 of 50 possible) and traded up from 0.08 ETH to around 7.7 ETH in valuation at present time. The swaps are listed below.
- Friend No. 22 for Max Pain and Frens
- Max Pain and Frens for Sappy Seal
- Sappy Seal for Remilio
- Remilio for Rare Pepe
- Rare Pepe for Matt Furie's PEGZ 093
While Cobie does not need the funds, he has not yet described what he might do with the NFT or gains at the end of the journey, but in less than one day he's mustered more than a $13,000 gain.
When asked why do something like this?
Cobie replied, "Im just trying to do the Red Paperclip thing but with NFTs because I am bored."
You can follow the rest of the journey via our Twitter or the original reporting.
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- Autograph, Co-Founded by Tom Brady, grabbed ownership in a SimWin Sports Team.
- Chimpers concluded Adventure 3 and distributed rewards.
- .SWOOSH delayed its general sale.
- Cool Cats launched Journeys Season 2, letting Shadow Wolves join the fun.
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- The crypto market was down; BTC down 1.9% to $26,831; ETH down 1% to $1,808
- LooksRare started its second raffle with another BAYC up top.
🚀 NFT Total Volume
- Wrapped CryptoPunks (1,990 ETH, 49.99 ETH Floor)
- MAYC (1,022 ETH, 9.95 ETH)
- BAYC (791 ETH, 47.22 ETH)
- Pudgy Penguins (715 ETH; 4.89 ETH)
- Milady Maker (512 ETH, 4.90 ETH)
📈 NFT Floor Price Increase
- 10KTF Kagami (69%, 2.95 ETH Floor)
- Friendship Bracelets (35%, 0.17 ETH)
- Damien Hirst - The Currency (14%, 2.39 ETH)
- KILLABITS (7%, 0.64 ETH)
- CyberKongz Babies (6%, 1.24 ETH)
🗓 Upcoming NFT Mints and Reveals
- Grails Part 1 - Sothebys (10:00 a.m. ET)
- The Red Dream by RedRuM (11:00 a.m. ET)
Enjoy this write-up? Follow along with me on Twitter @lhitch09 or reach out via email logan@luckytrader.com.
For all volume and floor price data, see Lucky Trader's Project Rankings page.
For all upcoming mints, see Lucky Trader's Project Schedule page.
