Pudgy Penguins has officially denied widespread rumors that it acquired leading NFT marketplace OpenSea. The speculation sparked after users on social media circulated past comments from Pudgy Penguins CEO Luca Netz, including an October 2024 post expressing interest in buying OpenSea. Some even suggested the deal might have quietly closed in December.

However, Beau, the project’s head of security, put the rumors to rest in a post on X, saying, “Pudgy Penguins didn’t buy OpenSea… chill.” He emphasized that the team is focused on building high-profile partnerships rather than acquisitions. “Talk about partnering with Lufthansa and NASCAR, and go find the next great brand for us to proliferate with,” he added.

Pudgy Penguins, a collection of 8,888 penguin NFTs launched in July 2021, has evolved beyond digital art. The brand now includes Pudgy Toys, a physical product line developed with PMI Toys. Through its OverpassIP platform, NFT holders can license their assets for commercial use.

While the acquisition theory was fueled by coincidental timing between Pudgy’s December announcements and OpenSea’s policy changes, Beau clarified that purchasing OpenSea "wouldn’t make a lot of sense" for the project right now.

Instead, the team is actively pursuing new brand alliances and gaming innovations. In July, they launched Pengu Clash, a skill-based mini-game on The Open Network (TON), expanding their footprint into the Web3 gaming space.

Meanwhile, the broader NFT market is experiencing a resurgence. According to DappRadar, total market capitalization surged to $6.6 billion in July, up 94% from the previous month. Weekly trading volume also rose 51%, with CryptoPunks leading the rally as floor prices spiked 53%—reaffirming its role as a top-tier Web3 asset.