Why Pudgy Penguins Turned to This Toy Guru to Reach the Masses
Pudgy Penguins, once an NFT project, is in the early stages of building a significant consumer packaged goods presence, guided by toy industry veteran Steve Starobinsky. After being acquired by CEO Luca Netz in 2022, Pudgy expanded from digital collectibles into physical merchandise, launching toys at major retailers like Walmart and Target in 2023 and generating over $13 million in sales. Starobinsky is focused on methodical, long-term strategy rather than reactive moves typical in the crypto sector. The brand collaborates with names such as Bearbrick, PEZ, and Penguin Random House, with plans for more substantial launches in 2026. He sees opportunity in marketing Pudgy’s winter-themed products during the retail industry’s post-holiday slowdown, aiming to “own winter” and avoid competition by targeting this underused window. The business development team is small but growing, and the company targets over $20 million in retail sales for 2026. Starobinsky stresses that winning in retail requires controlling promotional space and extending campaigns beyond traditional peak seasons to achieve greater scale and market presence.
