Pudgy Penguins Denies OpenSea Acquisition as NFT Market Rebounds

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…