Pudgy Penguins Signs Hollywood Representation Deal to Expand Intellectual Property
Pudgy Penguins, a popular nonfungible token (NFT) project, has recently inked a representation deal with William Morris Endeavor (WME), a major Hollywood talent agency. The news was announced via Twitter on May 5 and comes as part of Pudgy Penguins' plan to expand its intellectual property into various entertainment mediums, such as film, television, and gaming.
Pudgy Penguins is just one of many NFT projects that have sought out representation deals with Hollywood talent agencies to increase their visibility and reach. WME's other NFT-related clients include Dapper Labs co-founder Mack Flavelle, the Boss Beauties project, pseudonymous NFT artist FEWOCiOUS, and artist Claire Silver.
According to CryptoSlam's data, Pudgy Penguins is currently the twenty-first highest-selling NFT project of all time. Since its launch in July 2021, it has generated over $250.2 million worth of sales on secondary markets. Last month, the project was acquired by Luca Netz of Netz Capital for 750 Ether, or about $2.5 million.
Despite its success, Pudgy Penguins has been steadily developing its Web3 ecosystem and community surrounding the project. One such move was the soft launch of physical Pudgy Penguin figurines in late March. These figurines come with certificates of authenticity, and proof of ownership is recorded on Ethereum.
The representation deal with WME is just the latest step in Pudgy Penguins' journey to establish itself as a major player in the NFT space. With its intellectual property expanding into various entertainment mediums and a growing community around the project, it will be exciting to see what Pudgy Penguins has in store for the future. Here at NFT Drops Calendar, we will keep an eye out for any further development in the story.