Pudgy Penguins, an Ethereum-based NFT project, wrapped the exterior of the Las Vegas Sphere with an animated mural for a seven-day promotional campaign. The Sphere says the project is not a digital asset venture but a display of physical products, marking a pivot away from a meme-coin-centric crypto culture toward mainstream consumer goods. The seven-day wrap occurred during the Christmas season and carried an estimated production cost of about $600,000.
Previously, the Dogwifhat community raised roughly $700,000 to pursue a similar initiative, but Sphere blocked the plan, stating that digital assets beyond tokens or exchange-traded assets are not permitted, and the funds were refunded. Pudgy Penguins has since expanded beyond digital assets, with Pudgy Toys sold in about 3,100 Walmart stores nationwide, and toy sales last year surpassing $10 million. Sphere maintains that the Pudgy Penguins campaign is categorized as a consumer product, and the existing policy remains in effect.
Since talks began in 2024, the project involved nearly a year of preparation. Analysts say this marks a shift in crypto culture from meme-coin focus to mainstream consumer brands, as NFT projects pursue physical product collaborations to reach broader audiences.
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