Pudgy Penguins brought its NFT characters to the Las Vegas Sphere during Christmas week, projecting animated penguins across the venue’s vast exterior screens.
The animated display went live on Christmas Eve, taking advantage of the Sphere’s high-resolution LED panels visible throughout the Las Vefgas Strip.
In a post on X, Pudgy Penguins confirmed the activation marked one of its largest real-world brand showcases to date.
The project was founded in 2021 and later acquired in April 2022 by entrepreneur Luca Netz for 2.5 million Ether.
Following the acquisition, Netz shifted the project’s strategy beyond digital collectibles as NFT revenues began to decline.
The company expanded into physical consumer products, particularly toys, to create sustainable cash flow.
Toys generate significant revenue, but the margins are thin.
Luca Netz said, adding:
We’re selling millions of dollars’ worth of toys today, but it took time to scale into that business.
What began as a short-term survival strategy evolved into a core business line for Pudgy Penguins.