Unifred Unifred 01.02.2024

Pudgy Toys Chapter 2: OverpassIP Beta Opens IP Licensing for Pudgy Penguins

Pudgy Penguins, the renowned NFT collection featuring adorable flightless birds, has announced the beta version of its IP licensing platform, ‘OverpassIP.’ According to a recent tweet thread, OverpassIP will host Chapter 2 of Pudgy Toys, which are real-life simulation toys based on the Pudgy Penguin IP. 

Pudgy Toys Chapter 2 will offer NFT holders, particularly those owning Pudgy Penguins and Lil Pudgys, the opportunity to connect their toys with official licensing deals, paving the way to earning royalties and special perks. 

This deal will bring 88 Pudgy Penguins and Lil Pudgys to life through plushies, action figures, clip-on plushies, and mystery figurines. While the OverpassIP beta version is currently only available to Pudgy Penguin and Lil Pudgy holders, its mainnet (actual date isn't available yet) aims to provide opportunities for more than 200 Pudgy Penguin and Lil Pudgy IPs in the future.

To participate in Chapter 2, NFT holders will submit their Pudgy Penguin and Lil Pudgy toys on OverpassIP for their licensing deals. Submissions are currently ongoing and will last until February 11th, 2024. 

Selection will run throughout Q1 2024. Notably, submission does not guarantee holders a licensing deal. Instead, it puts their penguins in the pool of NFTs for potential licensing deals as new SKUs are developed.

Selected participants will receive updates on their licensing status and toy production progress through semi-annual OverpassIP blog posts. Furthermore, holders of Pudgy Rods in the same wallet as their submitted penguin may be eligible for a Pudgy Rods multiplier.

The latest development comes on the heels of Pudgy Toys Chapter 1 success, which saw the project hit the top spot on Amazon in three categories, land in 2,000 Walmart stores across the US, and claim prestigious awards like Toy Insider's top Summer and Winter toy. It will be interesting to see how Chapter 2 unfolds. Stay tuned!