Pudgy Penguins denies OpenSea acquisition rumors, focuses on partnerships

Uncover key highlights within the DeFi house. This article dives into: “Pudgy Penguins denies OpenSea acquisition rumors, focuses on partnerships”.

Pudgy Penguins has denied hypothesis that it acquired NFT market OpenSea, following a wave of social media chatter suggesting a deal might 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 buy OpenSea… chill,” he wrote.

He claimed that the challenge has large plans, so there’s no must give attention to only one potential acquisition. “Talk about partnering with Lufthansa and NASCAR, and go find the next great brand for us to proliferate with,” Beau wrote.

Pudgy Penguins is a collection of 8,888 flightless hen NFTs launched in July 2021. The challenge has additionally expanded into bodily merchandise with a Pudgy Toys line in partnership with PMI Toys, permitting NFT holders to earn from business use by way of its OverpassIP platform.

Beau dismissing OpenSea acquisition rumors. Source: Beau

Related: Blistering NFT ‘sweep’ underway as CryptoPunks, Penguins surge

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 mentioned he needed his firm to purchase OpenSea.

Other group members speculated that a purchase order might have occurred quietly, citing coincidental timing with Pudgy’s December bulletins and OpenSea’s later coverage shifts round token assist.

However, Beau pushed again on the narrative. “I don’t actually think acquiring OS rn would make a lot of sense for us,” he wrote in an earlier reply, emphasizing the crew’s desire to give attention to confirmed developments moderately than hypothesis.

Pudgy Penguins has not too long ago leaned into model partnerships, together with tie-ups with Lufthansa and NASCAR. Last month, the challenge additionally launched a skill-based Web3 recreation known as Pengu Clash for The Open Network (TON) blockchain, becoming a member of the aggressive mini-game house.

Related: Ozzy Osbourne’s demise sparks 400% surge in CryptoBatz NFTs

NFT market rebounds as CryptoPunks lead $6.6B surge

The NFT market is exhibiting renewed momentum, with whole market capitalization hitting $6.6 billion in July, a 94% leap from the earlier month, based on DappRadar. Weekly buying and selling volumes additionally climbed 51%, marking the strongest efficiency since February.

Leading the comeback is the Ethereum-based collection CryptoPunks, whose flooring costs jumped 53%. DappRadar analysts famous the collection’s enduring attraction as a Web3 standing image. On July 22, CryptoPunks noticed 83 new purchases and a 15.9% floor price rise inside 24 hours, reaching practically $180,000 per Punk.

Magazine: NFT Creator: Jack Butcher’s no fan of NFT royalties: ‘You’re getting paid on churn’

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