Pudgy Penguins Denies OpenSea Deal, Focuses on Partnerships

Pudgy Penguins has denied hypothesis that it acquired NFT market OpenSea, following a wave of social media chatter suggesting a deal might have closed as early as December 2024.

In a Saturday post on X, Beau, head of safety at Pudgy Penguins, dismissed the acquisition discuss. “Pudgy Penguins didn’t purchase OpenSea… chill,” he wrote.

He claimed that the undertaking has huge plans, so there’s no must deal with only one potential acquisition. “Speak about partnering with Lufthansa and NASCAR, and go discover the subsequent nice model for us to proliferate with,” Beau wrote.

Pudgy Penguins is a group of 8,888 flightless chicken NFTs launched in July 2021. The undertaking has additionally expanded into bodily merchandise with a Pudgy Toys line in partnership with PMI Toys, permitting NFT holders to earn from business use via its OverpassIP platform.

Associated: Blistering NFT ‘sweep’ underway as CryptoPunks, Penguins surge

Rumors of Pudgy Penguins’ curiosity in OpenSea

The rumors of OpenSea’s acquisition gained traction after a number of X customers pointed to previous feedback by CEO Luca Netz, together with a now-resurfaced October 2024 submit the place he stated he wished his firm to purchase OpenSea.

Different neighborhood members speculated that a purchase order might have occurred quietly, citing coincidental timing with Pudgy’s December bulletins and OpenSea’s later coverage shifts round token assist.

Nevertheless, Beau pushed again on the narrative. “I don’t really assume buying OS rn would make a number of sense for us,” he wrote in an earlier reply, emphasizing the group’s choice to deal with confirmed developments relatively than hypothesis.

Pudgy Penguins has lately leaned into model partnerships, together with tie-ups with Lufthansa and NASCAR. Final month, the undertaking additionally launched a skill-based Web3 game called Pengu Clash for The Open Community (TON) blockchain, becoming a member of the aggressive mini-game area.

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NFT market rebounds as CryptoPunks lead $6.6B surge

The NFT market is showing renewed momentum, with complete market capitalization hitting $6.6 billion in July, a 94% soar from the earlier month, based on DappRadar. Weekly buying and selling volumes additionally climbed 51%, marking the strongest efficiency since February.