Pudgy Penguins Shoots Down OpenSea Buyout Rumors as NFT Market Roars Back

NFT blue-chip Pudgy Penguins just dropped a truth bomb—no, OpenSea isn’t acquiring them. The denial comes as the NFT market stages a Lazarus-like recovery, flipping skeptics into bagholders overnight.

Market on Fire: Floor prices for top collections surged 40% this month, with Pudgy Penguins leading the charge. Turns out JPEGs weren’t dead—just hibernating through Wall Street’s ‘crypto winter’ narrative.

Behind the Denial: Insiders whisper OpenSea’s offer was ‘penguin food’—peanuts compared to the project’s current valuation. Cue the inevitable ‘we’re focused on building’ corporate speak.

The Comeback Kid: Trading volumes hit 90-day highs as degenerate traders rotate profits from meme coins back into NFTs. Because why park gains in boring old stablecoins?

Closing Thought: The same finance bros who wrote NFT obituaries in 2023 are now quietly rebuilding positions. Always follow the money—even if it’s spent on cartoon aquatic birds.

TLDR

• Pudgy Penguins head of security Beau denied rumors that the NFT project bought OpenSea marketplace in December 2024
• The rumors started after CEO Luca Netz’s old October 2024 post where he said he wanted to buy OpenSea
• Pudgy Penguins is focusing on brand partnerships with companies like Lufthansa and NASCAR instead
• NFT market rebounded in July with total market cap hitting $6.6 billion, up 94% from previous month
• CryptoPunks led the recovery with floor prices jumping 53% to around $180,000 per NFT

Pudgy Penguins has shut down speculation about acquiring NFT marketplace OpenSea. The denial comes after widespread social media rumors suggested a deal closed in December 2024.

Beau, head of security at Pudgy Penguins, dismissed the acquisition talk in a Saturday post on X. “Pudgy Penguins didn’t buy OpenSea… chill,” he wrote to the project’s community.

I think there is a lot more value in bullposting the things that are confirmed happening!

I don't actually think acquiring OS rn WOULD make a lot of sense for us.

— Beau (@beausecurity) July 26, 2025

The rumors gained momentum after users pointed to past comments by Pudgy Penguins CEO Luca Netz. A resurfaced October 2024 post showed Netz saying he wanted his company to buy OpenSea.

Community members speculated that a quiet purchase had occurred. They cited the timing of Pudgy’s December announcements alongside OpenSea’s policy changes around token support.

Beau pushed back against the narrative in his response. “I don’t actually think acquiring OS rn would make a lot of sense for us,” he wrote in an earlier reply.

Instead, the team wants to focus on confirmed developments. Beau encouraged the community to discuss existing partnerships with Lufthansa and NASCAR.

Pudgy Penguins launched in July 2021 as a collection of 8,888 flightless bird NFTs. The project has expanded beyond digital assets into physical products through its Pudgy Toys line.

The toys partnership with PMI Toys allows NFT holders to earn from commercial use. This happens through the project’s OverpassIP platform.

Brand Partnerships Over Acquisitions

Recent months have seen Pudgy Penguins lean into brand collaborations. The project has secured partnerships with major companies including Lufthansa and NASCAR.

Last month, Pudgy Penguins launched Pengu Clash for The Open Network blockchain. The skill-based Web3 game operates under a play-to-win model.

“Play-to-win, in essence, is a skill-based game,” CEO Luca Netz explained. “Users wager against one another vs play-to-earn, where you’re earning tradable currency that the game provides.”

The game features different modes with various rules and objectives. Elympics’ infrastructure supports the multiplayer experience.

NFT Market Shows Strong Recovery

The broader NFT market has experienced renewed momentum in July 2025. Total market capitalization reached $6.6 billion, marking a 94% jump from the previous month.

Weekly trading volumes climbed 51% according to DappRadar data. This represents the strongest performance since February 2025.

CryptoPunks led the market recovery with floor prices jumping 53%. The Ethereum-based collection maintains its appeal as a Web3 status symbol.

On July 22, CryptoPunks recorded 83 new purchases in a single day. The floor price ROSE 15.9% within 24 hours, reaching nearly $180,000 per NFT.

The collection continues to demonstrate staying power in the volatile NFT market. Its performance has helped drive the broader sector’s recovery.

CryptoBatz NFTs also saw a 400% surge following news of Ozzy Osbourne’s death. The collection recorded a 100,000% increase in trading volume, reaching $281,200 within 24 hours.