The Pudgy Penguins (PENGU) is one of the most popular non-fungible token (NFT) projects ever.
In simple words, an NFT is a unique digital asset that acts as a secure certificate of ownership for a specific item, such as digital art, music, gaming avatars, or virtual real estate.
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In September 2023, Pudgy Penguins partnered with Walmart to launch Pudgy Toys, a line of plushies, figurines, and physical collectibles inspired by its NFT collection. The products debuted in 2,000 Walmart stores across the United States.
Pudgy Penguins toys are available for sale on the Walmart website too.
Pudgy Penguins for sale on Walmart website
But the NFT mania seems to be over. In fact, the project’s native token PENGU is trading 90% lower than its all-time high (ATH) of $0.06845 that it hit on Dec. 17, 2024.
Now, it turns out Pudgy Penguins is winding down its popular mobile game Pudgy Party.
Trending on TheStreet Roundtable:
Pudgy Party game winds down
Last week, the team posted on X that it is shutting down Pudgy Party and halting further development.
Launched in August 2025, the mobile game has been downloaded over 1 million times. Its popularity made the Pudgy Penguins brand extremely popular, the team said.
But now, a single flagship gaming product is going to be the focus as the Pudgy Penguins universe extends to new products like toys, gaming, licensing, and entertainment, the team revealed.
“We are now going all-in on Pudgy World to make it the easiest, most fun entry point into the Pudgy Penguins story through gaming.”
As far as the NFT market capitalization is concerned, the figure stood at $1.55 billion at the time of writing. On the other hand, the figure stood at over $17 billion at its peak in 2022.
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This story was originally published by TheStreet on Jun 16, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
