Pudgy Penguins has denied hypothesis that it acquired NFT market OpenSea, following a wave of social media chatter suggesting a deal could have closed as early as December 2024.
In a Saturday publish on X, Beau, head of safety at Pudgy Penguins, dismissed the acquisition speak. “Pudgy Penguins didn’t purchase OpenSea… chill,” he wrote.
He claimed that the undertaking has large plans, so there’s no have to give attention to 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 chook 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 industrial use by way of its OverpassIP platform.
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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 publish the place he stated he needed his firm to purchase OpenSea.
Different neighborhood members speculated that a purchase order could 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 suppose buying OS rn would make a whole lot of sense for us,” he wrote in an earlier reply, emphasizing the workforce’s choice to give attention to confirmed developments somewhat 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 sport known as Pengu Conflict for The Open Community (TON) blockchain, becoming a member of the aggressive mini-game house.
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NFT market rebounds as CryptoPunks lead $6.6B surge
The NFT market is displaying renewed momentum, with whole 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.
Main the comeback is the Ethereum-based assortment CryptoPunks, whose flooring costs jumped 53%. DappRadar analysts famous the gathering’s enduring enchantment as a Web3 standing image. On July 22, CryptoPunks noticed 83 new purchases and a 15.9% flooring worth rise inside 24 hours, reaching practically $180,000 per Punk.
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