Thomas Daniels
Pudgy Penguins has categorically denied rumors suggesting it acquired the NFT marketplace OpenSea, terming such speculation unnecessary and reaffirming its focus on expanding brand partnerships.
In a post on X, Beau—the project’s head of security—stated bluntly: “Pudgy Penguins didn’t buy OpenSea… chill.” He emphasized the team’s broader ambitions, urging observers to “talk about partnering with Lufthansa and NASCAR, and go find the next great brand for us to proliferate with.”
Launched in July 2021, Pudgy Penguins is an NFT collection boasting 8,888 flightless bird avatars. The project has since branched into physical merchandise through a Pudgy Toys collaboration with PMI Toys, enabling NFT holders to monetize commercial usage of their NFTs via the OverpassIP platform.
Rumors of the OpenSea deal reignited when users resurfaced an October 2024 post from CEO Luca Netz expressing interest in acquiring the marketplace. Some community members suggested a silent acquisition occurred in December 2024, citing parallel timing between Pudgy’s announcements and OpenSea’s policy revisions around token support. Beau refuted this, writing that acquiring OpenSea “right now would not make a lot of sense,” and the team is focused on tangible developments rather than speculation.
Instead of pursuing high‑profile acquisitions, Pudgy Penguins is ramping up brand collaborations. Notable tie‑ins include Lufthansa and NASCAR. Additionally, the team has launched Pengu Clash, a skill‑based Web3 game on The Open Network (TON) blockchain, entering the competitive mini‑game arena.
Meanwhile, the NFT market is experiencing a strong resurgence. According to DappRadar, total market capitalization surged to $6.6 billion in July, representing a 94% month‑over‑month increase, while weekly trading volume climbed 51%. Leading the rebound is the CryptoPunks collection, whose Ethereum‑based floor prices rose 53%, with 83 new sales on July 22 and a 15.9% floor increase to nearly $180,000 per Punk within 24 hours.
