Pudgy Penguins Releases Project Overpass Beta for IP Usage
Overpass IP Beta is live, featuring two Pudgy Penguins toyline deals, which offers original Pudgy Penguins and Lil Pudgy NFT holders new royalties and opportunities.
- Launch of Overpass IP Beta: Connects NFT holders with official licensing deals.
- First Deals: Two opportunities for Pudgy Penguins toyline.
- Availability: Separate deals open for Pudgy Penguin and Lil Pudgy owners.
- Past Success: Chapter 1 of Pudgy Toys achieved significant milestones, selling more than 750,000 toys in major retail locations like Walmart.
Overpass IP launched in Beta, marking a significant step in bridging NFTs with real-world applications and licensing deals. This platform allows NFT holders, specifically those owning Pudgy Penguins, to connect their digital assets with official licensing deals, opening doors to earn royalties and more.
The inaugural deals are part of the next chapter in the Pudgy Toys series. This opportunity is not just for Pudgy Penguin holders but also for Lil Pudgy owners. To participate, holders can submit their NFTs through the designated Overpass IP links.
Submissions for the deal will be accepted until Feb. 10, 2024, but submission does not guarantee a licensing agreement. Instead, it places the NFT in a selection pool for future SKUs of the toy line. Selected participants will receive semi-annual updates via the Overpass IP blog.
Furthermore, the deal includes a Pudgy Rods multiplier for eligible submissions. Details about this multiplier structure are available on the Overpass IP website.
🎤 Founder Feedback
We navigated a complex legal and technical landscape to build a product that was well designed and easy to use. The goal was to do NFT licensing in 3 clicks. We accomplished that: Select NFT - review legal - sign agreement The platform was born from a problem we needed to solve for our own brand growth. Today it is a gift to web3 allowing everyone to truly build together.Lorenzo, President of Pudgy Penguins
❗️ Why It Matters
The launch of Overpass IP Beta, particularly with the Pudgy Penguins toyline, is an expansion on the development of IP and licensing in the NFT space. It not only offers new revenue streams for NFT holders but also signifies the maturity of the space behind "simple jpegs" whilst simplifying what is typically a complex and intimidating legal proposition for the average holder.
🎬 Take Action
For Pudgy Penguin and Lil Pudgy owners interested in exploring these new opportunities, visit the Overpass IP Beta website before the February 10 deadline to submit your NFTs for consideration.
For more web3 and NFT news, visit the Lucky Trader newsfeed.