On August 29th, Mythical Games, in collaboration with Pudgy Penguines, launched its latest title, Pudgy Party. Now that I’ve had just over a week of testing the game out and observing the secondary market for in-game NFTs, I wanted to quickly share my thoughts and outline what a potential bull case would be for the game moving forward.
Pudgy Party is a party game that plays very similarly to most other leading titles in the genre, like Stumble Guys and Eggy Party – groups of 20 players compete across 3 knockout rounds, and the winner is the last penguin standing. The core loop is fairly simple and has a low skill floor, which is the main reason why these games have such a broad appeal, especially with younger players. At the end of each game, players are rewarded with a mix of in-game currency and lootboxes containing character skins. These character skins separate Pudgy Party from its peers because, under certain circumstances, skins in this game can become tradable NFTs. The current floor price for the game’s most limited and powerful skin is just under $6k (up from $1.5k last Friday!).
Taking a very brief step back, it is important to note that Pudgy Party was built based on the Mythical blueprint – leverage IP for distribution -> provide a frictionless UX and
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