Digital collectable company Pudgy Penguins has made its foray into Malaysia, according to the brand on X. Its launch in the country was supported by the Malaysian Digital Economy Corporation (MDEC) and Asia Huddle PLT.
The company’s business lead, Cheryl Law, reportedly said that the brand’s commitment is to promote intellectual property utilisation and to increase consumer engagement to drive Malaysia’s business growth while empowering community members to partake in the journey.
Following its success in the United States, the collectable company is now a transformative venture that allows for a blend between blockchain innovation and tangible business opportunities, Law added. She explained that the Web3 ecosystem will help unlock opportunities for Malaysian businesses. For instance, the retail environment supports a growing blockchain ecosystem as well as underpins initiatives by the Malaysian government and MDEC.
The company’s CEO, Luca Netz reportedly added that Pudgy Penguins’ mission is not only to bring joy but also to contribute to the economic landscape of Malaysia through inclusivity and art.
To mark its entry into the country, Pudgy Pengines organised a three-day event to showcase how it moved from the digital realm to real-world toys. The event included arcade games, a lion dance, shopping experiences and more.
Earlier this year in May, Pudgy Penguins carried out a seed round in which it raised $9,000,000. "While raising, our number one goal was to make sure that once the round was complete, we would purely be amplifying the momentum we had already built and that our community and ethos would still be at the centre of the brand. It was very important to us that we observed other raises in this industry, and learned what worked and what didn’t, as well as how to position ourselves and the community for success," it added.
While NFTs have not been as much of a rage as they used to be, many brands did come forth with their own NFT marketplace when the phenomenon was at its peak. Towards the tail-end of last year, Mattel launched its own NFT marketplace on Mattel Creations, which is the company’s direct-to-consumer platform. The Mattel Creations Digital Collectibles Marketplace was built on the Flow blockchain, a decentralised blockchain touted by the brand to be eco-friendly.
Ron Friedman, vice president at Mattel Future Lab said, “Mattel is pioneering the future of play”, and constantly deepening connections with fans of all ages in both the physical and digital worlds.
“In launching our own marketplace, we’re able to translate iconic Mattel IP into digital art, engaging directly with our customers and providing a best-in-class user experience. This is the latest evolution of our digital endeavors, and we look forward to sharing more drops soon inspired by some of the world’s favourite Mattel brands,” he added.
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