Pudgy Penguins Denies OpenSea Acquisition, Eyes Partnerships
Key Takeaways:
- Pudgy Penguins officially denies OpenSea acquisition
- Project focuses on partnerships with Lufthansa and NASCAR
- NFT market recovering with $6.6 billion market cap
- CryptoPunks leads growth surge with 53% increase
Pudgy Penguins Dismisses OpenSea Acquisition Rumors
Pudgy Penguins has publicly denied speculation about acquiring the NFT marketplace OpenSea, following a wave of social media buzz suggesting a deal may have closed in December 2024.
In a post on X (formerly Twitter), Beau, Head of Security at Pudgy Penguins, firmly rejected the rumors: “Pudgy Penguins didn’t buy OpenSea… chill,” he wrote.
He emphasized the team’s broader vision and focus on building long-term partnerships. “Talk about partnering with Lufthansa and NASCAR, and go find the next great brand for us to proliferate with,” Beau added.
Pudgy Penguins is a collection of 8,888 flightless bird NFTs launched in July 2021. The project has since expanded into physical products through its Pudgy Toys line, developed in collaboration with PMI Toys. It also empowers NFT holders to commercialize their IP through the OverpassIP licensing platform.
Origins of Pudgy Penguins’ Interest in OpenSea Rumors
The OpenSea acquisition rumors resurfaced after several users on X referenced earlier statements by Pudgy Penguins CEO Luca Netz. In particular, a now-viral post from October 2024 showed Netz expressing interest in acquiring OpenSea.
Some speculated a stealth acquisition had already occurred, pointing to the timing of Pudgy’s December updates and OpenSea’s subsequent changes to token support.
However, Beau shut down that narrative, writing: “I don’t actually think acquiring OS rn would make a lot of sense for us,” and encouraged the community to focus on verified developments over speculation.
Pudgy Penguins Focuses on Brand Partnerships
Rather than chasing acquisitions, Pudgy Penguins has leaned into real-world brand collaborations. Recent initiatives include partnerships with Lufthansa and NASCAR, enhancing mainstream visibility and Web3 adoption.
In June, the project launched Pengu Clash, a skill-based Web3 mini-game built on The Open Network (TON). According to Cointelegraph, the game is designed around competitive player-vs-player mechanics and emphasizes skill-based rewards.
The broader NFT market is showing strong signs of recovery. According to DappRadar, total NFT market cap reached $6.6 billion in July—marking a 94% increase month-over-month. Weekly trading volumes also surged 51%, the highest since February.
CryptoPunks, one of the most iconic Ethereum-based NFT collections, led the resurgence. Its floor price surged 53%, with 83 new purchases recorded on July 22 alone. That day, the floor price rose nearly 16% to hover around $180,000 per Punk. Analysts cited CryptoPunks’ lasting appeal as a blue-chip NFT and status symbol in the Web3 space.
