Pudgy Penguins Dismisses OpenSea Buyout Rumors, Focuses on Brand Deals

Pudgy Penguins Dismisses OpenSea Buyout Rumors, Focuses on Brand Deals

NFT Community Buzzes Over Acquisition Claims

Pudgy Penguins has denied rumors that it acquired leading NFT marketplace OpenSea, following waves of speculation across social media. The project’s security lead, known as Beau, took to X (formerly Twitter) over the weekend to dismiss the chatter.

“Pudgy Penguins didn’t buy OpenSea… chill,” Beau posted, responding to viral claims suggesting that the deal might have closed as far back as December 2024.

He urged followers to pivot attention away from acquisition gossip and toward confirmed brand progress:

“Talk about partnering with Lufthansa and NASCAR, and go find the next great brand for us to proliferate with,” Beau wrote.

NFT Toys, Licensing, and a Gaming Pivot

Launched in July 2021, Pudgy Penguins is a limited series of 8,888 cartoon penguin NFTs. Since then, the project has evolved into a full-fledged brand, expanding into physical merchandise through its Pudgy Toys collaboration with PMI Toys. These toys are tied to its OverpassIP platform, which allows NFT holders to license their characters for commercial use and earn royalties.

Where Did the OpenSea Rumor Start?

The acquisition theory gained traction after users resurfaced a post from October 2024 in which CEO Luca Netz openly expressed his desire to acquire OpenSea. Coupled with timing overlaps between Pudgy’s announcements and OpenSea’s policy changes, fans speculated that a deal may have happened quietly.

But Beau was quick to debunk the connection:

“I don’t actually think acquiring OS rn would make a lot of sense for us,” he said, reinforcing the team’s preference for “building confirmed momentum” instead of feeding unverified theories.

Penguins Lean Into Real-World Brands and Web3 Gaming

Instead of acquisitions, Pudgy Penguins is focused on real-world partnerships and new digital experiences. This year, the team announced collaborations with German airline Lufthansa and American motorsport brand NASCAR.

Just last month, they rolled out a Web3 game called “Pengu Clash” built on The Open Network (TON) blockchain. The game adds Pudgy Penguins to the expanding arena of skill-based NFT mini-games, targeting the fast-growing intersection of gaming and digital assets.

NFT Market Roars Back with $6.6B in Value

Meanwhile, the NFT market is enjoying a robust rebound. According to DappRadar, total market capitalization surged to $6.6 billion in July, up 94% from the previous month. Weekly trading volumes also jumped 51%, marking the strongest performance since February.

Leading the resurgence is CryptoPunks, one of the oldest Ethereum-based NFT collections. Its floor price spiked 53%, with 83 sales recorded on July 22 alone—driving a 15.9% single-day floor increase. The average sale price neared $180,000 per Punk.

DappRadar analysts attribute the renewed demand to the collection’s status as a Web3 cultural icon.