Pudgy Penguins shut down rumors of an OpenSea buyout, calling the speculation unnecessary and pointing instead to growing brand partnerships.
Pudgy Penguins has denied speculation that it acquired NFT marketplace OpenSea, following a wave of social media chatter suggesting a deal may have closed as early as December 2024.
In a Saturday post on X, Beau, head of security at Pudgy Penguins, dismissed the acquisition talk. “Pudgy Penguins didn’t buy OpenSea… chill,” he wrote.
He claimed that the project has big plans, so there’s no need to focus on just one possible acquisition. “Talk about partnering with Lufthansa and NASCAR, and go find the next great brand for us to proliferate with,” Beau wrote.
Pudgy Penguins is a collection of 8,888 flightless bird NFTs launched in July 2021. The project has also expanded into physical products with a Pudgy Toys line in partnership with PMI Toys, allowing NFT holders to earn from commercial use through its OverpassIP platform.
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The rumors of OpenSea’s acquisition gained traction after multiple X users pointed to past comments by CEO Luca Netz, including a now-resurfaced October 2024 post where he said he wanted his company to buy OpenSea.
Other community members speculated that a purchase may have occurred quietly, citing coincidental timing with Pudgy’s December announcements and OpenSea’s later policy shifts around token support.
However, Beau pushed back on the narrative. “I don’t actually think acquiring OS rn would make a lot of sense for us,” he wrote in an earlier reply, emphasizing the team’s preference to focus on confirmed developments rather than speculation.
Pudgy Penguins has recently leaned into brand partnerships, including tie-ups with Lufthansa and NASCAR. Last month, the project also launched a skill-based Web3 game called Pengu Clash for The Open Network (TON) blockchain, joining the competitive mini-game space.
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The NFT market is showing renewed momentum, with total market capitalization hitting $6.6 billion in July, a 94% jump from the previous month, according to DappRadar. Weekly trading volumes also climbed 51%, marking the strongest performance since February.
Leading the comeback is the Ethereum-based collection CryptoPunks, whose floor prices jumped 53%. DappRadar analysts noted the collection’s enduring appeal as a Web3 status symbol. On July 22, CryptoPunks saw 83 new purchases and a 15.9% floor price rise within 24 hours, reaching nearly $180,000 per Punk.
