Pudgy Penguins has denied recent rumors that they acquired the Non-Fungible Token exchange OpenSea.
These rumors spread after social media posts were revived and the coincidental timing of announcements from both projects led some users to believe a covert acquisition had occurred.
Pudgy Penguins Refute OpenSea Rumors Amid ETF Plans
On July 26th, Beau, the project's security chief, clarified that no acquisition took place.
According to him, the Non-Fungible Token-focused company is concentrating on expanding brand partnerships and developing its existing ecosystem.
Beau encouraged the Pudgy Penguin community to shift attention from acquisition stories and focus on broader development initiatives, including collaborations with global brands like Lufthansa and NASCAR.
"The scale of plans for Penguin is so large that you don't need to speculate about a single acquisition. Instead, let's talk about partnerships with Lufthansa and NASCAR, and find the next big brand to grow together," he stated.
Pudgy Penguins, launched in July 2021, comprises 8,888 cartoon-style penguin Non-Fungible Tokens and has become one of the most prominent collections in the field.
Luca Netz, CEO of Igloo Inc. and owner of the Pudgy Penguins Non-Fungible Token project, recently emphasized the project's popularity, with over 100 billion views recorded through their content distribution network.
These numbers demonstrate a revival driven by meme culture and community-led marketing.
Moreover, the project's token, PENGU, has also attracted attention by being the only Non-Fungible Token-linked asset participating in an exchange-traded fund (ETF) application.
This move positions Pudgy Penguins uniquely in the cryptocurrency investment landscape, where very few Non-Fungible Token projects have entered regulated financial products.
OpenSea, formerly the dominant Ethereum-based Non-Fungible Token exchange during the 2021 price surge, has struggled to maintain its leading position in a changing market.
In response, the platform introduced OS2, a redesigned multi-chain exchange supporting both non-fungible and fungible tokens.
It also outlined plans to release the SEA token with an airdrop targeting both old and new users, although no official launch date has been announced.
These developments occur as the Non-Fungible Token market recovers. According to data from CoinGecko, the total market capital of Non-Fungible Tokens exceeded $6.5 billion this week, marking the highest level since January.
