Pudgy Penguins has denied recent speculation suggesting it acquired the NFT marketplace OpenSea.
The rumors gained momentum after resurfaced social media posts and coincidental timing between announcements from both projects led some users to believe a quiet acquisition had taken place.
Pudgy Penguins Shuts Down OpenSea Rumors Amid ETF Plans
On July 26, Beau, the NFT project’s head of security, clarified that no such acquisition occurred.
According to him, the NFT-focused firm is focused on expanding brand partnerships and scaling its existing ecosystem.
Beau encouraged the Pudgy Penguin community to shift attention away from takeover narratives and focus on its broader growth initiatives, which include collaborations with established global brands such as Lufthansa and NASCAR.
“The scale of things planned for the Penguin is so large that you need not speculate on a single acquisition. Instead talk about partnering with Lufthansa and NASCAR, and go find the next great brand for us to proliferate with,” he stated.
Pudgy Penguins, launched in July 2021, consists of 8,888 cartoon-styled penguin NFTs and has become one of the most recognizable collections in the space.
Luca Netz, the CEO of Igloo Inc. and the owner of the Pudgy Penguins NFT project, recently highlighted the project’s popularity, with over 100 billion views recorded through its content distribution network.
These figures point to a resurgence powered by meme culture and community-led marketing.
Moreover, the project’s token, PENGU, has also drawn attention as the only NFT-linked assets involved in an exchange-traded fund (ETF) application.
This move places Pudgy Penguins in a unique position within the crypto investment landscape, where very few NFT projects have bridged into regulated financial products.
OpenSea, once the dominant Ethereum-based NFT marketplace during the 2021 bull run, has struggled to retain its leadership in a changing market.
In response, the platform has introduced OS2, a redesigned multi-chain marketplace that supports both non-fungible and fungible tokens.
It has also outlined plans to release a SEA token with an airdrop targeting both legacy and new users, although no official launch date has been provided.
These developments come amid a broader rebound in the NFT market. According to CoinGecko data, the total market capitalization of NFTs surpassed $6.5 billion this week, marking its highest level since January.
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